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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Hotels
1417 Division St, Spokane, WA 99202
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1658208
Property summary
AI-generated overview
This exceptional Spokane, WA commercial property, located at 1417 & 1423 N Division St, offers a unique investment opportunity. The 3,760 square foot, two-story building sits on a 15,200 square foot lot (0.16 acres) and boasts a prime location on a busy thoroughfare, ensuring high visibility and accessibility. Recently updated with brand new siding and roof, this Class C building also features a new upper access staircase and a dedicated parking lot. The interior offers flexibility for customization, making it ideal for owner-occupants or tenants seeking to create a space tailored to their specific needs. The property includes an adjoining lot, presenting potential for expansion. Built in 1934, this freestanding building offers 3,760 square feet of net rentable space, suitable for a variety of uses, including retail or professional office spaces. The ample parking provides convenience for tenants and customers. This property presents a compelling opportunity to acquire a well-located, updated commercial building in a thriving Spokane market. The APN is 35181.0102 & 35181.0103, and the zip code is 99202.
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1934
Total area
3,760 SF
Lot
0.17 ac (7,600 SF)
APN
35181.0103
UPID
US90-1658208
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
by Request
CAP Approach
CAP
$370k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$525k
Owner & transaction history
Alcoan Motel LLC · 21 yrs held
Alcoan Motel LLC
since 2005
Last sale
$550,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$550,000
+72.0%
Commercial (general)
$490,000
+52.8%
Office building
$475,000
+48.2%
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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane 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%
$400,000
6.5%
$370,000
7%
$345,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$320,000
Current use
AUTO REPAIR, GARAGE
$550,000
Change: +72% · Conversion: Difficult
COMMERCIAL (GENERAL)
$490,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$475,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$410,000
Change: +29% · Conversion: Difficult
MEDICAL BUILDING
$340,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $550k (Mar 31 2020)
Last sale anchor
$550k
Mar 31 2020
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
$140 / 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
$3,420
Tax year 2023
Assessed value
$349,500
Assessed 2024
Previous assessed
$280,400
+24.6% YoY
Effective rate
0.98%
On assessed value
Assessed land
$209,000
Assessed improvement
$140,500
Land market value
$209,000
Improvement market value
$140,500
Total market value
$349,500
Applied tax rate
10.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1934
Heating
NONE
Stories
2
Units
12
Bathrooms
1
Total area
3,760 SF
Lot
0.17 ac (7,600 SF)
APN
35181.0103
UPID
US90-1658208
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
HOTEL/MOTEL Current
Est. value
$320,000
AUTO REPAIR, GARAGE
Est. value
$550,000
COMMERCIAL (GENERAL)
Est. value
$490,000
OFFICE BUILDING
Est. value
$475,000
RETAIL STORES
Est. value
$410,000
MEDICAL BUILDING
Est. value
$340,000
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
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
1934
Heating
NONE
Stories
2
Units
12
Bathrooms
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Alcoan Motel LLC
Entity
Free & Clear · 21 yrs held
Mailing address
1919 E FRANCIS AVE, SPOKANE, WA 99208-2747
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2005
—
Alcoan Motel LLC
Paupst,wayne A & Mary L
Quit Claim Deed
related
—
—
—
Wayne A Paupst
—
Deed Of Trust
related
$150,000 · United Security 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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