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Property profile & analytics
FOR SALE
Drive through restaurants
12421 W Sunset Hwy Airway Heights, WA 99001
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0424978
For Sale
Contact for pricing
12421 W Sunset Hwy, Airway Heights, WA 99001
View Listing →
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1987
Total area
2,845 SF
Lot
1.13 ac (49,400 SF)
APN
15261.0027
UPID
US90-0424978
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$820k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$864k
Blend (final)
Blend
$815k
Owner & transaction history
Griffin West Plains Properties LLC · 4 yrs held
Griffin West Plains Properties LLC
since 2021
Last sale
$775,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$710,000
+12.9%
Medical building
$675,000
+7.3%
Retail stores
$655,000
+3.9%
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 Airway Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Airway Heights 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
$850,000
ML approach
$820,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$630,000
Current use
OFFICE BUILDING
$710,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$675,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$655,000
Change: +4% · Conversion: Easy
AUTO REPAIR, GARAGE
$560,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$815k
Range $734k – $897k · ±10% · vs last sale $775k (Dec 9 2021)
Last sale anchor
$775k
Dec 9 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
$286 / 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
$6,254
Tax year 2023
Assessed value
$795,100
Assessed 2024
Previous assessed
$680,300
+16.9% YoY
Effective rate
0.79%
On assessed value
Assessed land
$247,000
Assessed improvement
$548,100
Land market value
$247,000
Improvement market value
$548,100
Total market value
$795,100
Applied tax rate
370.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Sale
Year built
1987
Heating
NONE
Stories
1
Bathrooms
2
Total area
2,845 SF
Lot
1.13 ac (49,400 SF)
APN
15261.0027
UPID
US90-0424978
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
RESTAURANT Current
Est. value
$630,000
OFFICE BUILDING
Est. value
$710,000
MEDICAL BUILDING
Est. value
$675,000
RETAIL STORES
Est. value
$655,000
AUTO REPAIR, GARAGE
Est. value
$560,000
RESTAURANT Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
Heating
NONE
Stories
1
Bathrooms
2
Lot
1.13 ac
Current owner
From public records · entity-resolved
Griffin West Plains Properties LLC
Entity
Mailing address
911 1ST ST, CHENEY, WA 99004-1705
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2021
—
Griffin West Plains Properties LLC
—
Deed
related
$1,000,000 · First Interstate Bank
Dec 9, 2021
—
Griffin West Plains Properties LLC
Grabel Properties LLC
Intrafamily Transfer
related
—
Apr 10, 2018
—
Grabel Properties LLC
—
Deed
related
$832,751 · Eon INC
Sep 21, 2009
$775,000
Grabel Properties LLC
Eon INC
Warranty Deed
$775,000 · Eon INC
—
—
Grabel Properties LLC
—
Deed Of Trust
related
$832,751 · Eon INC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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