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    Property profile & analytics

    12622 Sunset Hwy Airway Heights, WA 99001-9427

    • Retail space
    • 7,800 SF
    • 0.38 lot acres
    OFF-MARKET
    Last Sale
    Nov 15, 2024
    $1,621,616
    Value Estimations
    $1,620,000
    Show details
    Cap Rate Potential
    5.3%
    Retail space
    Location Intelligence
    Property ID
    US90-3319045
    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

    • Retail space

    Property Details for 12622 Sunset Hwy

    Year built
    2004
    Lot size
    0.38 lot acres
    Property size
    7,800 SF
    Property type
    Retail space
    APN
    15234.2710
    APU
    152342710

    Description

    This exceptional retail space, Suite A, offers 1,524 square feet of ground floor commercial space in a vibrant Spokane County strip center. The property boasts convenient front and rear access, ensuring ease of entry and exit for both customers and staff. Ample ADA-compliant parking is available, enhancing accessibility for all. High visibility is guaranteed with available pylon signage, providing excellent opportunities for branding and attracting customers. The total building size is 7,800 square feet, with a portion currently vacant. This presents a unique opportunity to establish or expand your business in a thriving retail environment. The property sits on a 0.38-acre lot (APN 15234.2710), offering ample space and potential for future growth. The zoning is designated C1-A. Net operating expenses are estimated at $4.89 per square foot annually. This is a fantastic opportunity for a business seeking high visibility, convenient access, and ample parking in a well-established retail center. Don't miss out on this chance to secure a prime location in a bustling Spokane County commercial area. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,620,000
      ML approach
      $1,620,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,430,000
      6.5%
      $1,320,000
      7%
      $1,225,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,683,000
      Market price range: $683k - $2.83M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,470,000
      Current use
      OFFICE BUILDING
      $1,875,000
      Change: +27% Conversion: Easy
      MEDICAL BUILDING
      $1,695,000
      Change: +15% Conversion: Difficult
      RESTAURANT
      $1,680,000
      Change: +15% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,475,000
      Change: +0% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,185,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Airway Heights
    County
    Spokane
    State
    Washington
    Longitude
    -117.586
    Latitude
    47.6433
    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
    $7,793
    $99,000
    $892,100
    $991,100
    -
    $99,000
    $892,100
    $991,100

    Comparable in this City

    • Value Estimation
      $1,165,000
      7,360 SF

      1415 Russell St

      RETAIL STORES (PERSONAL SERVICES) • 7,360 SF
      1415 Russell St, Airway Heights, WA 99001-5102
      View Details
    • Value Estimation
      $26,750,000
      164,522 SF

      1221 Hayford Rd

      RETAIL STORES (PERSONAL SERVICES) • 164,522 SF
      1221 Hayford Rd, Airway Heights, WA 99001
      View Details
    • Value Estimation
      $1,825,000
      9,200 SF

      10833 2nd Hwy

      RETAIL STORES (PERSONAL SERVICES) • 9,200 SF
      10833 2nd Hwy, Airway Heights, WA 99001
      View Details
    • Value Estimation by Request
      2,400 SF

      13011 14th Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      13011 14th Ave, Airway Heights, WA 99001-9453
      View Details
    • Value Estimation
      $1,415,000
      7,028 SF

      10829 2nd Hwy

      RETAIL STORES (PERSONAL SERVICES) • 7,028 SF
      10829 2nd Hwy, Airway Heights, WA 99001
      View Details
    • Value Estimation by Request
      2,024 SF

      13220 Sunset Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,024 SF
      13220 Sunset Hwy, Airway Heights, WA 99001
      View Details

    Similar Nearby for Sale

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      Airway Heights Commercial Property For Sale

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      High-visibility commercial space suitable for retail or restaurant use.
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      Established Restaurant with High Visibility

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    Similar Nearby for Lease

    • $6 SF/Yr
      35,081 SF

      Airway Heights Warehouse Space Available

      Industrial warehouse space for lease in Spokane County.
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      Modern Industrial Warehouse Space

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    • $0.50 SF/Yr
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      West Spokane Industrial Park Suites

      Industrial park suites available for rent in West Spokane.
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      Prime Graded Land Available

      1.45 acres of graded land with high traffic volume.
      11109 W Sr 2 Hwy, Airway Heights, WA 99001
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    • $10 SF/Yr
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      Commercial Land Available For Rent

      Commercial land available for rent or build to suite.
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      View Details
    • Contact for pricing
      202,800 SF

      Airway Heights Warehouse Space Available

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      View Details
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    12622 Sunset Hwy
    Airway Heights, WA 99001-9427
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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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