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Property profile & analytics
FOR LEASE
Medical Office Space
12615 E Mission Ave, Spokane Valley, WA 99216
Trust Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-0098159
For Lease
1 / 9
$22 SF/Yr
12615 E Mission Ave, Spokane Valley, WA 99216
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Property summary
AI-generated overview
The Medicus Building, located at 12615 E Mission Ave in Spokane Valley, WA 99216, offers exceptional medical office space for lease. This multi-tenant building boasts a total of 36,820 square feet situated on a 2.15-acre lot in Spokane County. Currently, there are 5,062 square feet of vacant space available, divisible into units as small as 1,562 square feet. Larger contiguous spaces of up to 12,294 square feet are also available, providing flexibility for practices of various sizes. The building's classification as medical office ensures it meets the specific needs of healthcare professionals. Its convenient location in Spokane Valley offers easy access for patients and staff. The property is ideal for a variety of medical practices seeking modern, efficient, and well-located office space. Interested parties should inquire about available space and lease terms. The building's address is easily accessible via E Mission Ave, and its ample lot size provides convenient parking for patients and staff. The property is situated in Spokane County, Washington.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1974
Construction
CONCRETE
Total area
34,218 SF
Lot
2.15 ac (93,600 SF)
APN
45103.0287
UPID
US90-0098159
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
-
Peter Schlegel Physician
-
Michael Coats, MD Physician Medical Clinic
-
Lake City Physical Therapy - Spokane Valley Physician
-
Cindi L. Fuller, MSW Family Counselor
-
Medical Transportation Asstnc Department Of Transportation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.70M
Blend (final)
Blend
$2.73M
Owner & transaction history
Karmia Family Trust · 10 yrs held
Karmia Family Trust
since 2015
7 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 Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane Valley 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
Blend value · Realmo final
$2.73M
Range $2.46M – $3.00M · ±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
$80 / 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
$44,303
Tax year 2023
Assessed value
$4,706,400
Assessed 2024
Previous assessed
$4,717,200
-0.2% YoY
Effective rate
0.94%
On assessed value
Assessed land
$1,216,800
Assessed improvement
$3,489,600
Land market value
$1,216,800
Improvement market value
$3,489,600
Total market value
$4,706,400
Applied tax rate
146.0000
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
For Lease
Year built
1974
Construction
CONCRETE
Heating
NONE
Stories
4
Bathrooms
8
Total area
34,218 SF
Lot
2.15 ac (93,600 SF)
APN
45103.0287
UPID
US90-0098159
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
Building & site characteristics
From public records
Year built
1974
Construction
CONCRETE
Heating
NONE
Stories
4
Bathrooms
8
Lot
2.15 ac
Current owner
From public records · entity-resolved
Karmia Family Trust
Trust
Mailing address
14701 ARMINTA ST STE C, VAN NUYS, CA 91402-5910
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 8, 2015
—
Karmia Family Trust
Lazarus,wayne
Quit Claim Deed
related
—
Feb 7, 2006
$5,500,000
Lazarus Wayne Trust
Empire Investments LLC
Warranty Deed
$2,500,000 · Banner Bank
Aug 29, 2003
$1,347,237
Empire Lumber Co
Klaue Family Investments LLC
Quit Claim Deed
related
—
Aug 29, 2003
$738,722
Empire Investments LLC
Klaue Family Investments LLC
Quit Claim Deed
related
—
Aug 29, 2003
$186,293
White Dog Investments LLC
Klaue Family Investments LLC
Quit Claim Deed
related
—
Dec 3, 2002
$3,209,000
Klaue Family Investments LLC
Harrison,rick & Linda
Grant Deed
$1,660,000 · Banner Bank
—
—
Lazarus Wayne Trust
—
Deed Of Trust
related
$2,125,000 · Greenpoint Mortgage Funding
—
—
Empire Investments LLC
—
Deed Of Trust
related
$1,568,000 · Banner Bank
—
—
Empire Investments LLC
—
Deed Of Trust
related
$1,000,000 · Banner Bank
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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