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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1521 Argonne Rd Spokane Valley, WA 99212

    • Retail space
    • 9,520 SF
    • 0.67 lot acres
    For Lease
    View listing
    Last Sale
    Jan 02, 2020
    $1,250,000
    Value Estimations
    $960,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3298653
    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.

    Current Use by Public Records

    • Shelly Weiland / Real Estate Consultant
    • Tracy Bergan Realtor / Real Estate Agent
    • Crystal Delaney Realtor®, Delaney Lane Homes brokered by Coldwell Banker Tomlinson / Real Estate Agent
    • @MoveSpokane - Abbey Parsons - Coldwell Banker Tomlinson - Call or Text! / Real Estate Agent / Real Estate Agency
    • Ellie McIntyre - Realtor / Real Estate Agent

    Property Details for 1521 Argonne Rd

    Year built
    2003
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.67 lot acres
    Property size
    9,520 SF
    Property type
    Retail space
    APN
    45181.0144
    APU
    451810144

    Description

    This exceptional single-story retail property, the Argonne Mission Center, is located at 1521 N Argonne Rd in Spokane Valley, WA 99212. Built in 2003, this 9,520 square foot strip center offers a prime opportunity for businesses seeking high-visibility retail space in a thriving Spokane Valley location. The property features a multi-tenant configuration, providing flexibility for various retail concepts. Currently, one retail space is available, measuring 1,330 square feet, ideal for a smaller business looking to establish a presence in this busy area. The property's location in Spokane County, with its APN 45181.0144, ensures easy access to major transportation routes and a strong customer base. The building's single-story design provides convenient access and ample parking for customers and employees. This is an excellent opportunity to secure a well-located retail space in a vibrant community. The property's 2003 construction ensures modern amenities and efficient layouts. Interested parties should inquire about the available space and lease terms. This property presents a compelling investment opportunity for those seeking a strong retail presence in Spokane Valley.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $870,000
      ML approach
      $1,120,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,236,000
      Market price range: $285k - $2.26M

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.283
    Latitude
    47.6711
    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
    $15,045
    $292,600
    $1,077,100
    $1,369,700
    -
    $292,600
    $1,077,100
    $1,369,700

    Comparable in this City

    • Value Estimation
      $295,000
      0.16 Acres

      6320 Sprague Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.16 Acres
      6320 Sprague Ave, Spokane, WA 99212
      View Details
    • Value Estimation
      $480,000
      3,720 SF

      5617 Sprague Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,720 SF
      5617 Sprague Ave, Spokane Valley, WA 99212-0826
      View Details
    • Value Estimation
      $285,000
      8,624 SF

      6206 Trent Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,624 SF
      6206 Trent Ave, Spokane Valley, WA 99212-5012
      View Details
    • Value Estimation
      $195,000
      473 SF

      5004 Sprague Ave

      RETAIL STORES (PERSONAL SERVICES) • 473 SF
      5004 Sprague Ave, Spokane Valley, WA 99212-0860
      View Details
    • Value Estimation
      $7,575,000
      240 SF

      2702 Argonne Rd

      RETAIL STORES (PERSONAL SERVICES) • 240 SF
      2702 Argonne Rd, Millwood, WA 99212-2305
      View Details
    • Value Estimation
      $205,000
      10,000 SF

      4823 Sprague Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      4823 Sprague Ave, Spokane Valley, WA 99212-5001
      View Details

    Similar Nearby for Sale

    • $1,500,000
      7,286 SF

      Retail/Office Building Former Bank

      Retail/Office building on high traffic Argonne Rd.
      2716 N Argonne Rd, Spokane, WA 99212
      View Details
    • $2,599,900
      25,885 SF

      Freestanding Retail Building on Sprague

      Highly visible retail building with showroom, offices, and warehousing.
      6404 E Sprague Ave, Spokane, WA 99212
      View Details
    • $4,100,000
      29,936 SF

      Spokane Valley Retail Investment Opportunity

      29,936 SF commercial building on 1.42-acre lot for sale.
      5725 E Sprague Ave, Spokane, WA 99212
      View Details
    • Contact for pricing

      Anchored Retail Building For Sale

      Retail building 100% leased, anchored by Big 5 Sporting Goods.
      Spokane, WA 99212
      View Details
    • $750,000
      550 SF

      Prime Millwood Office/Retail Opportunity

      Vacant, high-traffic corner lot, redevelopment potential
      2821 Argonne Rd & 9012, Millwood, WA 99212
      View Details
    • $1,695,000
      1.40 Acres

      Spokane Valley Commercial Property

      Commercial property with multiple buildings and redevelopment potential in Spokane Valley.
      8814 E Sprague Ave, Spokane Valley, WA 99212
      View Details

    Similar Nearby for Lease

    • $5,500 /Mo
      4,000 SF

      Retail Space Near Major Retailers

      4,000 SF retail space with high-visibility frontage on Sprague Avenue.
      5428 E Sprague Ave, Spokane Valley, WA 99212
      View Details
    • $12 SF/Yr
      14,950 SF

      Retail Space on Argonne Road

      Retail space available in Spokane, WA, with ample parking.
      101 N Argonne Rd, Spokane, WA 99212
      View Details
    • $5,200,000
      15,000 SF

      Retail/Warehouse Space Available For Lease

      15,000 SF retail/warehouse space available Spring 2025.
      4630 E Sprague Ave, Spokane, WA 99212
      View Details
    • $13 SF/Yr
      6,952 SF

      Retail Space Available For Rent

      6,952 square feet of retail space for lease.
      5207 E Trent Ave, Spokane, WA 99212
      View Details
    • Contact for pricing
      9,520 SF

      Retail Space at Argonne & Mission

      Retail space available at the corner of Argonne and Mission.
      1521 N Argonne Rd, Spokane, WA 99212
      View Details
    • $18 SF/Yr
      19,780 SF

      Spokane Valley Retail Space For Lease

      High-traffic retail space, 1,620 sq ft available.
      5320 Sprague Ave, Spokane Valley, WA 99212
      View Details
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    1521 Argonne Rd
    Spokane Valley, WA 99212
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    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
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