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Property profile & analytics
OFF-MARKET
Estimated value
$1,025,000
Medical Office Space
123 Francis Ave Spokane, WA 99205-6348
Individually Owned
24-yr Hold
Free & Clear
Property ID
US90-0592644
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1987
Construction
STEEL FRAME
Total area
6,275 SF
Lot
0.37 ac (16,246 SF)
APN
36311.0216
UPID
US90-0592644
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Porter James J DPM Physician
-
Premier Dental of Spokane: Scott D. Davis, DDS Dental Office
-
Melissa Johnson Dental Office
-
Dr. Scott Davis Dental Office
-
Dr. Jonathan Misner Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.25M
Comparable Approach
Comparable
$696k
Blend (final)
Blend
$1.03M
Owner & transaction history
Douglas P Romney · 24 yrs held
Douglas P Romney
since 2001
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Spokane submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,350,000
6.5%
$1,245,000
7%
$1,160,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,495,000
Current use
RESTAURANT
$1,390,000
Change: -7% · Conversion: Difficult
OFFICE BUILDING
$1,380,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,240,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.03M
Range $923k – $1.13M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$163 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$15,417
Tax year 2023
Assessed value
$1,579,910
Assessed 2024
Previous assessed
$1,472,960
+7.3% YoY
Effective rate
0.98%
On assessed value
Assessed land
$178,710
Assessed improvement
$1,401,200
Land market value
$178,710
Improvement market value
$1,401,200
Total market value
$1,579,910
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
3
Total area
6,275 SF
Lot
0.37 ac (16,246 SF)
APN
36311.0216
UPID
US90-0592644
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.5M
RESTAURANT
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
3
Lot
0.37 ac
Current owner
From public records · entity-resolved
Douglas P Romney
Individual
Free & Clear · 24 yrs held
Mailing address
927 E ARABIAN LN, SPOKANE, WA 99208-6791
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 28, 2001
$344,553
Douglas P Romney
Millard Trust
Quit Claim Deed
related
—
Sep 28, 2001
—
Millard Trust
Romney,douglas P
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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