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    Property profile & analytics

    12825 14Th Ave Airway Heights, WA 99001

    • Parking lots & garages
    • 2,800 SF
    • 4.94 lot acres
    For Sale
    View listing
    $5,138,640
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1294571
    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

    • Parking lots & garages

    Property Details for 12825 14Th Ave

    Year built
    1978
    Lot size
    4.94 lot acres
    Property size
    2,800 SF
    Property type
    Parking lots & garages
    APN
    15261.1907
    APU
    152611907

    Description

    This exceptional free-standing commercial building, totaling 49,410 square feet, presents a unique investment opportunity in Airway Heights. Ideally situated on Highway 2 in the downtown area, this property boasts a prime location just 2.6 miles from Fairchild Air Force Base, providing access to a substantial consumer base of approximately 11,868 active-duty personnel, Air National Guard members, dependents, and civilian employees, along with an additional 814 households. Originally constructed in 1978 and renovated in 1986, the building sits on a generous 4.94 acres of land and is zoned C-1 Light Commercial, allowing for a diverse range of uses including commercial, financial, retail, personal services, restaurants, professional and medical offices, entertainment, and hotels. The property features two loading docks and ample parking, including a large striped parking lot in front and a gravel lot behind the building. A significant value-add opportunity exists with an additional 2,800 square feet of fenced storage space located in a garage behind the main building. Currently, a portion of the building is available for lease, with a minimum divisible space of 20,000 square feet. This presents a rare chance to acquire a substantial retail space in a high-traffic area with strong potential for growth and diverse tenant possibilities. The APN is 15261.1907.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $460,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $666,000
      Market price range: $208k - $667k
      AI Estimate
      $736,000
      Market price range: $238k - $736k

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $380,000
      Current use
      OFFICE BUILDING
      $670,000
      Change: +76% Conversion: Difficult
      MEDICAL BUILDING
      $610,000
      Change: +60% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $530,000
      Change: +39% Conversion: Difficult
      RETAIL STORES
      $525,000
      Change: +38% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $425,000
      Change: +12% Conversion: Difficult
      WAREHOUSE, STORAGE
      $335,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Airway Heights
    County
    Spokane
    State
    Washington
    Longitude
    -117.59
    Latitude
    47.6419
    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
    $18,978
    $645,560
    $1,770,300
    $2,415,860
    -
    $645,560
    $1,770,300
    $2,415,860

    Comparable in this City

    • Value Estimation
      $230,000
      1,920 SF

      12728 13th Ave

      PARKING GARAGE, PARKING STRUCTURE • 1,920 SF
      12728 13th Ave, Airway Heights, WA 99001
      View Details
    • Value Estimation
      $70,000
      2,592 SF

      13107 16th Ave

      PARKING GARAGE, PARKING STRUCTURE • 2,592 SF
      13107 16th Ave, Airway Heights, WA 99001
      View Details
    • Value Estimation
      $335,000
      4,800 SF

      13021 17th Ave

      PARKING GARAGE, PARKING STRUCTURE • 4,800 SF
      13021 17th Ave, Airway Heights, WA 99001
      View Details
    • Value Estimation
      $955,000
      4,092 SF

      11005 Fast Ln

      AUTO REPAIR, GARAGE • 4,092 SF
      11005 Fast Ln, Airway Heights, WA 99001-4501
      View Details
    • Value Estimation
      $325,000
      6,140 SF

      1307 Craig Rd

      AUTO REPAIR, GARAGE • 6,140 SF
      1307 Craig Rd, Airway Heights, WA 99001
      View Details
    • Value Estimation
      $420,000
      16,000 SF

      11011 21st Ave

      AUTO REPAIR, GARAGE • 16,000 SF
      11011 21st Ave, Airway Heights, WA 99001-9703
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $6 SF/Yr
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      Industrial warehouse space for lease in Spokane County.
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      View Details
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      Commercial Land for Ground Lease

      Commercial land available for ground lease.
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    • Contact for pricing
      202,800 SF

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      View Details
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    12825 14Th Ave
    Airway Heights, WA 99001
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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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