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Property profile & analytics
OFF-MARKET
Estimated value
$3,205,000
Medical Office Space
1415 Houk Rd, Spokane Valley, WA 99216-1043
Individually Owned
5-yr Hold
Free & Clear
Property ID
US90-1251980
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1999
Total area
10,463 SF
Lot
0.54 ac (23,341 SF)
APN
45152.0803
UPID
US90-1251980
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
$3.44M
CAP Approach
CAP
$2.08M
Comparable Approach
Comparable
$3.17M
Blend (final)
Blend
$3.21M
Owner & transaction history
Multicare Health System · 5 yrs held
Multicare Health System
since 2021
Last sale
$3.8M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.6M
+5.2%
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
$2,940,000
ML approach
$3,440,000
CAP Approach
CAP Return
Estimation
6%
$2,250,000
6.5%
$2,080,000
7%
$1,930,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,490,000
Current use
OFFICE BUILDING
$2,615,000
Change: +5% · Conversion: Easy
RESTAURANT
$2,320,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,070,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$3.21M
Range $2.88M – $3.53M · ±10% · vs last sale $3.80M (May 18 2021)
Last sale anchor
$3.80M
May 18 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
$306 / 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
$32,575
Tax year 2023
Assessed value
$3,449,970
Assessed 2024
Previous assessed
$326,770
+955.8% YoY
Effective rate
0.94%
On assessed value
Assessed land
$326,770
Assessed improvement
$3,123,200
Land market value
$326,770
Improvement market value
$3,123,200
Total market value
$3,449,970
Applied tax rate
144.0000
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
Off-Market
Year built
1999
Heating
NONE
Stories
1
Bathrooms
2
Total area
10,463 SF
Lot
0.54 ac (23,341 SF)
APN
45152.0803
UPID
US90-1251980
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
MEDICAL BUILDING Current
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.6M
RESTAURANT
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING Current
OFFICE BUILDING
RESTAURANT
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
1999
Heating
NONE
Stories
1
Bathrooms
2
Lot
0.54 ac
Current owner
From public records · entity-resolved
Multicare Health System
Individual
Free & Clear · 5 yrs held
Mailing address
801 W 5TH AVE STE #100, SPOKANE, WA 99204-2800
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
May 18, 2021
$3,800,000
Multicare Health System
Maxwell And Sinto LLC
Warranty Deed
—
Aug 11, 1998
—
Maxwell & Sinto LLC
—
Deed Of Trust
related
$1,520,000 · Sterlings Savings Bank
Oct 1, 1997
$203,125
Maxwell & Sinto LLC
Burnett,lyle W & Marilyn K
Grant Deed
—
—
—
Maxwell & Sinto LLC
—
Deed Of Trust
related
$1,750,000 · Sterling Bank
—
—
Maxwell & Sinto LLC
—
Deed Of Trust
related
$480,000 · Sterlings Savings 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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