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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12615 Mission Ave Spokane Valley, WA 99216

    • Medical offices
    • 34,218 SF
    • 2.15 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0098159
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Peter Schlegel / Oncologist
    • Michael Coats, MD / Neurologist
    • Lake City Physical Therapy - Spokane Valley / Physical Therapist
    • Cindi L. Fuller, MSW / Family Counselor
    • Medical Transportation Asstnc / Department Of Transportation

    Property Details for 12615 Mission Ave

    Year built
    1974
    Construction
    CONCRETE
    Lot size
    2.15 lot acres
    Property size
    34,218 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    45103.0287
    APU
    451030287

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,696,000
      Market price range: $3.34M - $8.81M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.235
    Latitude
    47.6723
    CBSA code
    44060
    CBSA name
    SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $44,303
    $1,216,800
    $3,489,600
    $4,706,400
    -
    $1,216,800
    $3,489,600
    $4,706,400

    Comparable in this City

    • Value Estimation
      $955,000
      7,034 SF

      13414 Msn Ave

      MEDICAL BUILDING • 7,034 SF
      13414 Msn Ave, Spokane Valley, WA 99216-2759
      View Details
    • Value Estimation
      $1,435,000
      12,768 SF

      1123 Evergreen Rd

      MEDICAL BUILDING • 12,768 SF
      1123 Evergreen Rd, Spokane Valley, WA 99216-1138
      View Details
    • Value Estimation by Request
      21,502 SF

      1204 Vercler Rd

      MEDICAL BUILDING • 21,502 SF
      1204 Vercler Rd, Spokane Valley, WA 99216-1020
      View Details
    • Value Estimation
      $1,065,000
      12,854 SF

      13512 Mansfield Ave

      MEDICAL BUILDING • 12,854 SF
      13512 Mansfield Ave, Spokane Valley, WA 99216-1793
      View Details
    • Value Estimation
      $2,280,000
      23,266 SF

      16010 Indiana Ave

      MEDICAL BUILDING • 23,266 SF
      16010 Indiana Ave, Spokane Valley, WA 99216-1813
      View Details
    • Value Estimation by Request
      1,464 SF

      12418 Saltese Ave

      MEDICAL BUILDING • 1,464 SF
      12418 Saltese Ave, Spokane Valley, WA 99216-0357
      View Details

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      Spokane Valley Commercial Property

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    Similar Nearby for Lease

    • Contact for pricing
      32,000 SF

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      Medical office space available near MultiCare Valley Hospital.
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      View Details
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    • $20 SF/Yr
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      Medicus Building: Spokane Valley Office Space

      Prime Medical Office Space Available in Spokane Valley
      12615 Mission Ave, Spokane Valley, WA 99216
      View Details
    • $35 SF/Yr
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      Evergreen Medical Office Space

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      View Details
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      Spokane Valley Office Space For Lease

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    • $32,400
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      Spokane Valley Office Suite 315

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      View Details
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    Spokane Valley, WA 99216
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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