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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Distribution centers
1234 Atlantic St, Spokane, WA 99201-2302
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0638517
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1953
Total area
3,000 SF
Lot
0.49 ac (21,300 SF)
APN
35181.0820
UPID
US90-0638517
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
-
TRX Water Repair Kitchen & Bath Showroom Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$536k
Blend (final)
Blend
$775k
Owner & transaction history
Atlantic Project LLC · 4 yrs held
Atlantic Project LLC
since 2021
Last sale
$900,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$745,000
+105.8%
Medical building
$715,000
+97.8%
Retail stores
$650,000
+79.6%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$745,000
Change: +106% · Conversion: Difficult
MEDICAL BUILDING
$715,000
Change: +98% · Conversion: Difficult
RETAIL STORES
$650,000
Change: +80% · Conversion: Moderate
AUTO REPAIR, GARAGE
$595,000
Change: +64% · Conversion: Easy
COMMERCIAL (GENERAL)
$485,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$775k
Range $698k – $853k · ±10% · vs last sale $900k (Dec 13 2021)
Last sale anchor
$900k
Dec 13 2021
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
$258 / 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
$7,027
Tax year 2023
Assessed value
$719,500
Assessed 2024
Previous assessed
$552,400
+30.2% YoY
Effective rate
0.98%
On assessed value
Assessed land
$213,000
Assessed improvement
$506,500
Land market value
$213,000
Improvement market value
$506,500
Total market value
$719,500
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1953
Heating
NONE
Buildings
2
Stories
1
Total area
3,000 SF
Lot
0.49 ac (21,300 SF)
APN
35181.0820
UPID
US90-0638517
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
OFFICE BUILDING
Est. value
$745,000
MEDICAL BUILDING
Est. value
$715,000
RETAIL STORES
Est. value
$650,000
AUTO REPAIR, GARAGE
Est. value
$595,000
COMMERCIAL (GENERAL)
Est. value
$485,000
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1953
Heating
NONE
Stories
1
Buildings
2
Lot
0.49 ac
Current owner
From public records · entity-resolved
Atlantic Project LLC
Entity
Mailing address
1234 N ATLANTIC ST, SPOKANE, WA 99201-2302
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2024
—
Atlantic Project LLC
—
Deed
related
—
Feb 2, 2024
—
Atlantic Project LLC
—
Deed
related
$731,500 · Tenet Fixed Income Fund LLC
Mar 25, 2022
—
Atlantic Project LLC
—
Deed
related
$1,317,000 · Thistle Creek Partners LP
Dec 13, 2021
$900,000
Atlantic Project LLC
Michael Galles
Warranty Deed
$810,000 · Milanne Galles Living Trust
Apr 10, 2020
—
Galles,m & M Living Trust
Jeffersons Washington LLC
Quit Claim Deed
related
—
Feb 1, 2018
$620,000
Jeffersons Washington LLC
Galles Michael & M Trust
Warranty Deed
$600,000 · Galles Michael & M Tr (pt)
Feb 1, 2018
—
Galles,michael & Milanne Trust
Mmg-atlantic LLC
Quit Claim Deed
related
—
Sep 7, 2010
$600,000
Mmg-atlantic LLC
Haskins C P Family Trust
Grant Deed
$420,000 · Wheatland Bank
—
—
Haskins Charles P Family Trust
—
Deed Of Trust
related
$141,680 · Haskins C P Inv Trust (pt)
—
—
Charles P Haskins
—
Deed Of Trust
related
$250,000 · Haskins Charles Inv Trust (pt)
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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