New search
Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Hotels
165 Washington St, Spokane, WA 99201-4329
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US90-0262140
Property summary
AI-generated overview
This established Spokane, WA motel presents a compelling investment opportunity. Located at 165 S Washington St, this turn-key operation boasts 43 rental rooms – 39 singles and 4 doubles – plus two residential units for managers. Built in two phases during the 1950s, the property comprises three buildings across a 0.45-acre lot, totaling 26,270 square feet. Each guest room is equipped with a TV, microwave, and refrigerator, and the property benefits from consistently positive year-over-year revenue. All rooms are non-smoking. The motel's furniture, fixtures, and equipment (FF&E) are included in the sale price of $1,999,500 ($95.17/sq ft). The property's strong performance is further enhanced by the high demand for affordable housing in downtown Spokane. Detailed financial information is available upon execution of a non-disclosure agreement. Showings are by appointment only
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1957
Total area
10,542 SF
Lot
0.45 ac (19,525 SF)
APN
35191.0504
UPID
US90-0262140
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
-
Downtowner Motel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$625k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$436k
Blend (final)
Blend
$530k
Owner & transaction history
Dunning Hospitality LLC · 13 yrs held
Dunning Hospitality LLC
since 2013
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
$625,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$845,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$50 / 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
$11,575
Tax year 2023
Assessed value
$1,185,940
Assessed 2024
Previous assessed
$926,000
+28.1% YoY
Effective rate
0.98%
On assessed value
Assessed land
$536,940
Assessed improvement
$649,000
Land market value
$536,940
Improvement market value
$649,000
Total market value
$1,185,940
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1957
Heating
NONE
Buildings
3
Stories
2
Units
39
Bathrooms
38
Total area
10,542 SF
Lot
0.45 ac (19,525 SF)
APN
35191.0504
UPID
US90-0262140
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
Est. value
$845,000
RETAIL STORES
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
1957
Heating
NONE
Stories
2
Buildings
3
Units
39
Bathrooms
38
Lot
0.45 ac
Current owner
From public records · entity-resolved
Dunning Hospitality LLC
Entity
Mailing address
16123 E RADCO DR, SPOKANE VALLEY, WA 99037-8001
Ownership since
2013
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
Oct 21, 2016
—
Dunning Hospitality LLC
—
Deed
related
$456,661 · Mountain West Bk
Feb 15, 2013
$900,280
Dunning Hospitality LLC
Budget Hospitality Ventures LLC
Warranty Deed
$300,000 · Budget Hospitality Ventures LLC
—
—
Dunning Hospitality LLC
—
Deed Of Trust
related
$456,661 · Mountain West Bk
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 165 Washington St?
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.
