Back to Search
Property profile & analytics
FOR LEASE
Medical Office Space
16009 E Indiana Ave Spokane Valley, WA 99216
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-2706414
For Lease
1 / 4
Contact for pricing
16009 E Indiana Ave, Spokane Valley, WA 99216
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2020
Total area
13,076 SF
Lot
1.55 ac (67,545 SF)
APN
45132.0315
UPID
US90-2706414
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
-
Vivacity Care Center Medical Clinic
-
Kinwell Primary Care - Spokane Valley Medical Clinic
-
Sarah Crow Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.21M
Owner & transaction history
Spokane Valley Clinic LLC · 5 yrs held
Spokane Valley Clinic LLC
since 2021
Last sale
$7.8M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.3M
+101.4%
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
$6,010,000
ML approach
$6,135,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$5,345,000
Change: +101% · Conversion: Moderate
Blend value · Realmo final
$6.21M
Range $5.59M – $6.83M · ±10% · vs last sale $7.77M (Apr 9 2021)
Last sale anchor
$7.77M
Apr 9 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
$475 / 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
$59,302
Tax year 2023
Assessed value
$6,239,450
Assessed 2024
Previous assessed
$5,701,850
+9.4% YoY
Effective rate
0.95%
On assessed value
Assessed land
$675,450
Assessed improvement
$5,564,000
Land market value
$675,450
Improvement market value
$5,564,000
Total market value
$6,239,450
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2020
Heating
NONE
Stories
1
Total area
13,076 SF
Lot
1.55 ac (67,545 SF)
APN
45132.0315
UPID
US90-2706414
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.3M
APARTMENT HOUSE (5+ UNITS)
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
2020
Heating
NONE
Stories
1
Lot
1.55 ac
Current owner
From public records · entity-resolved
Spokane Valley Clinic LLC
Entity
Mailing address
607 SW GRADY WAY STE #210, RENTON, WA 98057-2977
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 9, 2021
$7,771,429
Spokane Valley Clinic LLC
Noi Real Estate Partners LLC
Warranty Deed
$4,900,000 · Banner Bank
Apr 17, 2020
—
Noi Real Estate Partners LLC
—
Deed
related
$3,230,000 · Mountain West Bank
Nov 25, 2019
$716,857
Noi Real Estate Partners LLC
Hanson Industries INC
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?”
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.
