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Property profile & analytics
OFF-MARKET
Estimated value
$1,430,000
Banks
1628 5th Mile Rd Spokane, WA 99208-7111
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1336542
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1972
Construction
STEEL FRAME
Total area
3,622 SF
Lot
0.6 ac (26,024 SF)
APN
26254.1515
UPID
US90-1336542
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
-
Bank of America Mortgage Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.43M
Owner & transaction history
5 Mile Investmnt Company I LLC · 4 yrs held
5 Mile Investmnt Company I LLC
since 2022
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$905,000
+47.0%
Medical building
$860,000
+39.8%
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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane 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
$1,365,000
ML approach
$1,360,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$905,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$860,000
Change: +40% · Conversion: Difficult
Blend value · Realmo final
$1.43M
Range $1.29M – $1.57M · ±10% · vs last sale $1.50M (Jan 6 2022)
Last sale anchor
$1.50M
Jan 6 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
$395 / 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
$9,024
Tax year 2023
Assessed value
$924,290
Assessed 2024
Previous assessed
$730,470
+26.5% YoY
Effective rate
0.98%
On assessed value
Assessed land
$208,190
Assessed improvement
$716,100
Land market value
$208,190
Improvement market value
$716,100
Total market value
$924,290
Applied tax rate
10.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1972
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
1
Total area
3,622 SF
Lot
0.6 ac (26,024 SF)
APN
26254.1515
UPID
US90-1336542
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
$905,000
MEDICAL BUILDING
Est. value
$860,000
OFFICE BUILDING
MEDICAL BUILDING
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
1972
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
5 Mile Investmnt Company I LLC
Entity
Mailing address
PO BOX 9368, SPOKANE, WA 99209-9368
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2022
$1,500,000
5 Mile Investmnt Company I LLC
J Grant Person
Warranty Deed
$173,430 · Usaa Fsb
Aug 16, 1996
$337,100
Person,j G & Dixie L
Watson,james R
Trustees Deed
$375,000 · Global FCU
Jan 10, 1996
$462,500
James R Watson
5-mile Investment Co LP
Grant Deed
—
—
—
Person J G
—
Deed Of Trust
related
$360,000 · Washington Trust Bank
—
—
James R Watson
—
Deed Of Trust
related
$2,550,000 · Bank Of America Nt&sa Trustee
—
—
Person J G
—
Deed Of Trust
related
$250,000 · Bank Of America
—
—
Person J G
—
Deed Of Trust
related
$360,000 · Washington Trust 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.
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