Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Warehouses
15615 Newport Hwy Mead, WA 99021-5048
Individually Owned
8-yr Hold
Free & Clear
Property ID
US90-0353232
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2019
Total area
3,140 SF
Lot
3.22 ac (140,263 SF)
APN
37341.0177
UPID
US90-0353232
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
by Request
CAP Approach
CAP
$425k
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$590k
Owner & transaction history
Harley C Douglass · 8 yrs held
Harley C Douglass
since 2017
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$755,000
+100.6%
Medical building
$685,000
+81.7%
Auto repair, garage
$595,000
+58.1%
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 Mead submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mead 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$460,000
6.5%
$425,000
7%
$395,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$375,000
Current use
OFFICE BUILDING
$755,000
Change: +101% · Conversion: Difficult
MEDICAL BUILDING
$685,000
Change: +82% · Conversion: Difficult
AUTO REPAIR, GARAGE
$595,000
Change: +58% · Conversion: Easy
RETAIL STORES
$590,000
Change: +57% · Conversion: Moderate
COMMERCIAL (GENERAL)
$475,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±10%
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
$188 / 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
$38,139
Tax year 2023
Assessed value
$4,137,160
Assessed 2024
Previous assessed
$3,656,390
+13.1% YoY
Effective rate
0.92%
On assessed value
Assessed land
$455,860
Assessed improvement
$3,681,300
Land market value
$455,860
Improvement market value
$3,681,300
Total market value
$4,137,160
Applied tax rate
1,200.0000
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
Off-Market
Year built
2019
Heating
FORCED AIR
Buildings
6
Stories
1
Rooms
4
Bathrooms
1
Total area
3,140 SF
Lot
3.22 ac (140,263 SF)
APN
37341.0177
UPID
US90-0353232
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
WAREHOUSE, STORAGE Current
Est. value
$375,000
OFFICE BUILDING
Est. value
$755,000
MEDICAL BUILDING
Est. value
$685,000
AUTO REPAIR, GARAGE
Est. value
$595,000
RETAIL STORES
Est. value
$590,000
COMMERCIAL (GENERAL)
Est. value
$475,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
2019
Heating
FORCED AIR
Stories
1
Buildings
6
Rooms
4
Bathrooms
1
Lot
3.22 ac
Current owner
From public records · entity-resolved
Harley C Douglass
Individual
Free & Clear · 8 yrs held
Mailing address
5520 N FLORIDA ST, SPOKANE, WA 99217-5018
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2017
$498,766
Harley C Douglass
Bell,elaine S
Warranty 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 15615 Newport Hwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
