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Property profile & analytics
OFF-MARKET
Estimated value
$1,405,000
Banks
1507 Sprague Ave Spokane, WA 99202-3112
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0082031
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,400 SF
Lot
0.28 ac (12,000 SF)
APN
35163.3710
UPID
US90-0082031
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
Current use
Occupant on record · Public records
-
Serein at The Clutch Alternative Medicine Practice Spa & Massage Center
-
The CLUTCH Gym & Fitness Center Alternative Medicine Practice
-
Aiki Spokane Roshinkan Aikido Dojo Training Center Sports School
-
Intentional Healing Alternative Medicine Practice
-
Dance Ecology - Dance Spokane Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.41M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.41M
Owner & transaction history
Marquette Group Properties LLC · 2 yrs held
Marquette Group Properties LLC
since 2024
Last sale
$1.4M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.1M
+47.0%
Medical building
$2.0M
+39.8%
Restaurant
$1.9M
+30.3%
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
$1,405,000
ML approach
$1,405,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$1,430,000
Current use
OFFICE BUILDING
$2,100,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$2,000,000
Change: +40% · Conversion: Difficult
RESTAURANT
$1,860,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,660,000
Change: +16% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,510,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,355,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.41M
Range $1.26M – $1.55M · ±10% · vs last sale $1.41M (Jan 9 2024)
Last sale anchor
$1.41M
Jan 9 2024
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
$167 / 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
$7,675
Tax year 2023
Assessed value
$785,900
Assessed 2024
Previous assessed
$679,800
+15.6% YoY
Effective rate
0.98%
On assessed value
Assessed land
$84,000
Assessed improvement
$701,900
Land market value
$84,000
Improvement market value
$701,900
Total market value
$785,900
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
8,400 SF
Lot
0.28 ac (12,000 SF)
APN
35163.3710
UPID
US90-0082031
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
FINANCIAL BUILDING Current
Est. value
$1.4M
OFFICE BUILDING
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.0M
RESTAURANT
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
FINANCIAL BUILDING Current
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
1935
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Marquette Group Properties LLC
Entity
Mailing address
2309 W STRATTON AVE, SPOKANE, WA 99208-4403
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2024
$1,405,000
Marquette Group Properties LLC
Lasac Investments LLC
Warranty Deed
$1,291,100 · Numerica Cu
Mar 5, 2019
—
Lasac Investments LLC
—
Deed
related
$337,021 · Washington Trust Bank
Nov 16, 2017
—
Lasac Investments LLC
—
Deed
related
$251,073 · Washington Trust Bank
Aug 23, 2017
—
Lasac Investments LLC
—
Deed
related
$201,569 · Washington Trust Bank
Apr 2, 2004
$595,000
Lasac Investments LLC
Cancer Patient Care
Grant Deed
—
Apr 13, 2001
$324,500
Patient Care Cancer
Thomas Properties LLC
Grant Deed
—
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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