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Property profile & analytics
FOR LEASE
Retail space
15701 E Sprague Ave Spokane Valley, WA 99037
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0422589
For Lease
Contact for pricing
15701 E Sprague Ave, Spokane Valley, WA 99037
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1999
Total area
9,184 SF
Lot
0.69 ac (30,056 SF)
APN
45133.1343
UPID
US90-0422589
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
-
Serenity Dental Dental Office
-
Rufino A. Zisumbo, LMT Alternative Medicine Practice Spa & Massage Center
-
Chelsea L. Hoyt, LMP Alternative Medicine Practice Spa & Massage Center
-
Huston Hearing Care & Audiology Spokane Valley Hearing Aid Store Audiologist
-
Alexis A. Assink, LMP Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.49M
CAP Approach
CAP
$1.31M
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$1.61M
Owner & transaction history
Muk Cho Song · 5 yrs held
Muk Cho Song
since 2021
Last sale
$1.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.5M
+69.5%
Restaurant
$2.0M
+36.7%
Office building
$2.0M
+36.4%
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 Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane Valley 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
$1,420,000
ML approach
$1,485,000
CAP Approach
CAP Return
Estimation
6%
$1,420,000
6.5%
$1,310,000
7%
$1,215,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,455,000
Current use
AUTO REPAIR, GARAGE
$2,465,000
Change: +70% · Conversion: Difficult
RESTAURANT
$1,990,000
Change: +37% · Conversion: Easy
OFFICE BUILDING
$1,985,000
Change: +36% · Conversion: Easy
MEDICAL BUILDING
$1,865,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,395,000
Change: -4% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,175,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.61M
Range $1.45M – $1.77M · ±10% · vs last sale $1.84M (Jun 21 2021)
Last sale anchor
$1.84M
Jun 21 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
$175 / 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
$14,552
Tax year 2023
Assessed value
$1,499,170
Assessed 2024
Previous assessed
$1,160,470
+29.2% YoY
Effective rate
0.97%
On assessed value
Assessed land
$360,670
Assessed improvement
$1,138,500
Land market value
$360,670
Improvement market value
$1,138,500
Total market value
$1,499,170
Applied tax rate
144.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1999
Heating
NONE
Stories
1
Total area
9,184 SF
Lot
0.69 ac (30,056 SF)
APN
45133.1343
UPID
US90-0422589
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
RETAIL STORES Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$2.5M
RESTAURANT
Est. value
$2.0M
OFFICE BUILDING
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1999
Heating
NONE
Stories
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Muk Cho Song
Individual
Mailing address
36204 22ND PL S, FEDERAL WAY, WA 98003-8368
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 21, 2021
$1,840,000
Muk Cho Song
Donbo Enterprises LLC
Warranty Deed
$680,000 · Commencement Bank
Nov 1, 2007
$1,400,000
Donbo Ents LLC
Gc Capital LLC
Warranty Deed
$409,567 · Frontier Bank
Sep 11, 2000
—
Gc Capital LLC
Germann Childrens LP
Grant Deed
related
—
Aug 30, 1999
$1,350,000
Germann Childrens LP
Wam Enterprises INC
Grant Deed
—
Jun 23, 1998
$370,000
Wam Enterprises INC
Roundup Co
Trustees Deed
—
—
—
Wam Enterprises INC
—
Deed Of Trust
related
$912,000 · Sterling Savings Association
—
—
Donbo Ents LLC
—
Deed Of Trust
related
$403,000 · Coastal Community Bank
—
—
Donbo Ents LLC
—
Deed Of Trust
related
$75,000 · Frontier 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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