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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Bars & Pubs
1423 Ash St Spokane, WA 99201-2805
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-3277675
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1905
Construction
STEEL FRAME
Total area
4,066 SF
Lot
0.28 ac (12,000 SF)
APN
25131.2806
UPID
US90-3277675
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
$785k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$768k
Blend (final)
Blend
$640k
Owner & transaction history
Felony Flats LLC · 6 yrs held
Felony Flats LLC
since 2020
Last sale
$560,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+11.7%
Medical building
$965,000
+7.3%
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
$810,000
ML approach
$785,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$900,000
Current use
OFFICE BUILDING
$1,005,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$965,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$880,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$805,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$640k
Range $576k – $704k · ±10% · vs last sale $560k (Jan 2 2020)
Last sale anchor
$560k
Jan 2 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
$157 / 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
$5,763
Tax year 2023
Assessed value
$589,800
Assessed 2024
Previous assessed
$516,000
+14.3% YoY
Effective rate
0.98%
On assessed value
Assessed land
$84,000
Assessed improvement
$505,800
Land market value
$84,000
Improvement market value
$505,800
Total market value
$589,800
Applied tax rate
12.0000
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1905
Construction
STEEL FRAME
Heating
NONE
Stories
2
Units
10
Bathrooms
1
Total area
4,066 SF
Lot
0.28 ac (12,000 SF)
APN
25131.2806
UPID
US90-3277675
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
RESTAURANT Current
Est. value
$900,000
OFFICE BUILDING
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$965,000
RETAIL STORES
Est. value
$880,000
AUTO REPAIR, GARAGE
Est. value
$805,000
RESTAURANT Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
1905
Construction
STEEL FRAME
Heating
NONE
Stories
2
Units
10
Bathrooms
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Felony Flats LLC
Entity
Mailing address
115 E MEADOWLANE RD, SPOKANE, WA 99224-8475
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2025
—
Felony Flats LLC
—
Deed
related
$220,000 · Washington Trust Bank
Jan 2, 2020
$560,000
Felony Flats LLC
Richard J Culnane
Warranty Deed
$420,000 · Washington Trust Bank
May 20, 2004
—
Richard J Culnane
Wheeler,sidney W
Grant Deed
related
—
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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