Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    151 Spruce St Spokane, WA 99201-5833
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    151 Spruce St Spokane, WA 99201-5833

    View on Map
    • Apartment buildings
    • 2,104 SF
    • 0.26 lot acres
    Off-Market
    Property ID
    US90-0741755
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 151 Spruce St

    Year built
    1958
    Construction
    STEEL FRAME
    Lot size
    0.26 lot acres
    Property size
    2,104 SF
    Property type
    Apartment buildings
    APN
    25242.0203
    APU
    252420203

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.446
    Latitude
    47.6548
    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
    $6,231
    $168,750
    $469,050
    $637,800
    -
    $168,750
    $469,050
    $637,800

    Comparable in this City

    • Value Estimation by Request
      21,444 SF

      176 Howard St

      Multifamily properties • 21,444 SF
      176 Howard St, Spokane, WA 99201
      View Details
    • Value Estimation
      $4,775,000
      35,148 SF

      107 Howard St

      APARTMENT HOUSE (5+ UNITS) • 35,148 SF
      107 Howard St, Spokane, WA 99201-3831
      View Details
    • Value Estimation
      $7,615,000
      25,674 SF

      2136 Riverside Ave

      APARTMENT HOUSE (5+ UNITS) • 25,674 SF
      2136 Riverside Ave, Spokane, WA 99201-1444
      View Details
    • Value Estimation
      $3,155,000
      8,500 SF

      926 Sprague Ave

      APARTMENT HOUSE (5+ UNITS) • 8,500 SF
      926 Sprague Ave, Spokane, WA 99201-5076
      View Details
    • Value Estimation
      $3,400,000
      18,500 SF

      1310 College Ave

      APARTMENT HOUSE (5+ UNITS) • 18,500 SF
      1310 College Ave, Spokane, WA 99201-2048
      View Details
    • Value Estimation by Request
      3,000 SF

      1024 Boone Ave

      APARTMENT HOUSE (5+ UNITS) • 3,000 SF
      1024 Boone Ave, Spokane, WA 99201-2657
      View Details

    Similar Nearby for Sale

    • $835,000

      Spokane Multifamily Investment Opportunity

      Eight-unit apartment building with value-add potential in Spokane, WA.
      929 N Ash St, Spokane, WA 99201
      View Details
    • Contact for pricing

      Mixed-Use Property on Broadway Avenue

      Mixed-use building with retail/office space and apartments for sale.
      1522 W Broadway Ave, Spokane, WA 99201
      View Details
    • $695,000

      West Central Multifamily Investment Opportunity

      Well-maintained multifamily property with AirBnB potential in West Central neighborhood.
      2623 W Maxwell Ave, Spokane, WA 99201
      View Details
    • $1,000,000
      15,000 SF

      Spokane Multifamily Investment Opportunity

      Two buildings with development potential in Spokane's downtown periphery.
      1306 N Monroe St, Spokane, WA 99201
      View Details
    • $1,850,000
      1,350 SF

      Downtown Spokane Mixed-Use Building

      40 apartments and 2 retail suites in downtown Spokane.
      218-224 S Howard St, Spokane, WA 99201
      View Details
    • $1,690,000
      6,288 SF

      Newly Constructed 9-Unit Apartment Building

      New 9-unit apartment building with tax abatement and central location.
      2001 W Boone Ave, Spokane, WA 99201
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Renovated Apartment Building Restaurant Opportunity

      Restaurant space available in renovated downtown Spokane apartment building.
      120 W 3Rd Ave, Spokane, WA 99201
      View Details
    • Contact for pricing

      Spokane Commercial Space For Rent

      Commercial space available in Spokane, WA with free rent offer.
      1009 N Washington St, Spokane, WA 99201
      View Details
    • Contact for pricing

      Historic Office Building in Spokane

      Charming office building in the heart of Downtown Spokane.
      905 W Riverside Ave, Spokane, WA 99201
      View Details
    • Contact for pricing

      Spokane Office Space For Lease

      Office space available for lease in Spokane, Washington.
      221 N Wall St, Spokane, WA 99201
      View Details
    • Contact for pricing

      Office Space For Lease

      Office space available for lease in Spokane, Washington.
      1330 N Washington St, Spokane, WA 99201
      View Details
    • Contact for pricing

      Garden Style Office Space

      Office suites for lease with territorial views and easy access.
      1313 N Atlantic St, Spokane, WA 99201
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    151 Spruce St
    Spokane, WA 99201-5833
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!