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Property profile & analytics
FOR SALE
Warehouses
1529 S Craig Rd Airway Heights, WA 99001
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1715683
For Sale
1 / 14
$7,300,000
1529 S Craig Rd, Airway Heights, WA 99001
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1995
Total area
10,600 SF
Lot
4.67 ac (203,425 SF)
APN
15262.2108
UPID
US90-1715683
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
$3.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.38M
Owner & transaction history
Black Dog Properties LLC · 4 yrs held
Black Dog Properties LLC
since 2022
Last sale
$4.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.7M
+108.0%
Medical building
$2.5M
+97.8%
Retail stores
$2.4M
+91.5%
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 Airway Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Airway Heights 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
$3,380,000
ML approach
$3,360,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,650,000
Change: +108% · Conversion: Difficult
MEDICAL BUILDING
$2,520,000
Change: +98% · Conversion: Difficult
RETAIL STORES
$2,440,000
Change: +91% · Conversion: Moderate
RESTAURANT
$2,350,000
Change: +84% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,095,000
Change: +64% · Conversion: Easy
Blend value · Realmo final
$3.38M
Range $3.04M – $3.71M · ±10% · vs last sale $4.13M (Mar 16 2022)
Last sale anchor
$4.13M
Mar 16 2022
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
$318 / 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
$24,473
Tax year 2023
Assessed value
$3,115,840
Assessed 2024
Previous assessed
$2,632,540
+18.4% YoY
Effective rate
0.79%
On assessed value
Assessed land
$305,140
Assessed improvement
$2,810,700
Land market value
$305,140
Improvement market value
$2,810,700
Total market value
$3,115,840
Applied tax rate
370.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Sale
Year built
1995
Heating
NONE
Buildings
7
Stories
1
Units
18
Bathrooms
1
Total area
10,600 SF
Lot
4.67 ac (203,425 SF)
APN
15262.2108
UPID
US90-1715683
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
OFFICE BUILDING
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.5M
RETAIL STORES
Est. value
$2.4M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.1M
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
RESTAURANT
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
1995
Heating
NONE
Stories
1
Buildings
7
Units
18
Bathrooms
1
Lot
4.67 ac
Current owner
From public records · entity-resolved
Black Dog Properties LLC
Entity
Mailing address
5801 88TH ST SW, MUKILTEO, WA 98275-3313
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2022
$4,125,000
Black Dog Properties LLC
Airway Storage Ops LLC
Warranty Deed
$1,091,930 · Coastal Community Bank
Dec 27, 2019
$2,925,000
Airway Storage Ops LLC
4 The King Ents INC
Warranty Deed
$2,193,750 · Washington St Emp Cu
Mar 23, 2017
$465,150
Samuel A Matson
Matson,dean C
Quit Claim Deed
related
—
Mar 23, 2017
$1,850,000
Willow Grove Enterprises INC
Dean C Matsen
Warranty Deed
$1,295,000 · Umpqua Bank
Mar 20, 2017
—
Dean C Matson
Deanco LLC
Quit Claim Deed
related
—
Jul 12, 2013
$324,791
Deanco LLC
Matson Mckinney & Raymond
Quit Claim Deed
related
$651,300 · Seacoast Commerce Bank
Feb 25, 2002
$997,079
Mckinney Matsen
Blair,steven R
Grant Deed
$560,422 · Farmers & Merchants Bk Rockfor
—
—
Matsen Mckinney
—
Loan Modification
related
$560,423 · Isola Capital Management LLC
—
—
Matsen Mckinney
—
Deed Of Trust
related
$433,055 · Isola Capital Management LLC
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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