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Property profile & analytics
FOR LEASE
Banks
1520 W 3Rd Ave Spokane, WA 99201
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1680345
For Lease
$10 SF/Yr
1520 W 3Rd Ave, Spokane, WA 99201
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Property summary
AI-generated overview
This exceptional medical and traditional office building, located at 1520 W 3rd Ave in Spokane, WA, 99201, offers a rare opportunity. The property boasts a total of 30,166 square feet situated on a generous 1.76-acre lot (approximately 76,500 square feet). Currently, there are two available office spaces ranging from 3,439 to 3,795 square feet, ideal for a variety of medical or professional practices. The building is zoned DTC (Downtown General), providing flexibility for various uses. Ample parking is available with approximately 94 stalls, offering a convenient 3.4 spaces per 1,000 square feet. The property's location in Spokane's vibrant downtown core provides excellent visibility and accessibility. The property's APN is 25241.2511, and it's situated in Spokane County. This is a multi-tenant building presenting a strong investment opportunity in a desirable location. The building's size and parking capacity make it suitable for a range of businesses seeking a prominent presence in the Spokane market. Contact us today to learn more about this exceptional property and the available suites.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1976
Total area
66,907 SF
Lot
1.76 ac (76,500 SF)
APN
25241.2511
UPID
US90-1680345
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
-
OmniPark (Bike/Boat/Book/etc) Store Corporate Office
-
Agents Ally (Bike/Boat/Book/etc) Store Corporate Office
-
Northwest Neurology Physician Medical Clinic
-
Colleen Moore Physician
-
Emiliana Fiesta Wedding Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.79M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.37M
Blend (final)
Blend
$5.95M
Owner & transaction history
Bumblebee23 LLC · 4 yrs held
Bumblebee23 LLC
since 2021
Last sale
$4.8M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$6,895,000
ML approach
$6,790,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.95M
Range $5.36M – $6.55M · ±10% · vs last sale $4.85M (Nov 18 2021)
Last sale anchor
$4.85M
Nov 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
$89 / 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
$44,591
Tax year 2023
Assessed value
$4,571,850
Assessed 2024
Previous assessed
$3,992,200
+14.5% YoY
Effective rate
0.98%
On assessed value
Assessed land
$2,103,750
Assessed improvement
$2,468,100
Land market value
$2,103,750
Improvement market value
$2,468,100
Total market value
$4,571,850
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
For Lease
Year built
1976
Heating
NONE
Stories
3
Units
1
Total area
66,907 SF
Lot
1.76 ac (76,500 SF)
APN
25241.2511
UPID
US90-1680345
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
Building & site characteristics
From public records
Year built
1976
Heating
NONE
Stories
3
Units
1
Lot
1.76 ac
Current owner
From public records · entity-resolved
Bumblebee23 LLC
Entity
Mailing address
26 E 5TH AVE, SPOKANE, WA 99202-1309
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 18, 2021
$4,849,500
Bumblebee23 LLC
Dark Properties LLC
Warranty Deed
$5,025,240 · Washington Trust Bank
Sep 22, 2020
—
Dark Properties LLC
—
Deed
related
$500,000 · Washington Trust Bank
Nov 19, 2018
—
Dark Properties LLC
—
Deed
related
$3,973,318 · Washington Trust Bank
Mar 31, 2016
$3,362,000
Dark Properties LLC
Global Credit Union
Warranty Deed
$2,738,000 · Washington Trust 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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