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Property profile & analytics
FOR LEASE
Office buildings
1717 S Rustle St Spokane, WA 99224
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-0818733
For Lease
1 / 3
$1,550/Mo
1717 S Rustle St, Spokane, WA 99224
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Total area
6,840 SF
Lot
0.39 ac (17,000 SF)
APN
25262.0702
UPID
US90-0818733
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
-
IER (Inland Environmental Resources Inc.) Industrial Manufacturer Production Facility
-
Ardurra Engineering Consultant
-
OAC Services, Spokane Construction Company
-
Kirkpatrick & Startzel PS: Caitlin Baunsgard Law Firm
-
Brumback Real Estate and Construction Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.61M
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$1.43M
Owner & transaction history
Garden Springs At I90 LLC · 7 yrs held
Garden Springs At I90 LLC
since 2019
7 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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,740,000
6.5%
$1,605,000
7%
$1,490,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,710,000
Current use
MEDICAL BUILDING
$1,625,000
Change: -5% · Conversion: Easy
RETAIL STORES
$1,575,000
Change: -8% · Conversion: Moderate
RESTAURANT
$1,515,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$1.43M
Range $1.28M – $1.57M · ±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
$208 / 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
$30,382
Tax year 2023
Assessed value
$3,470,000
Assessed 2024
Previous assessed
$3,073,900
+12.9% YoY
Effective rate
0.88%
On assessed value
Assessed land
$68,000
Assessed improvement
$3,402,000
Land market value
$68,000
Improvement market value
$3,402,000
Total market value
$3,470,000
Applied tax rate
50.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1990
Heating
NONE
Buildings
2
Stories
2
Bathrooms
2
Total area
6,840 SF
Lot
0.39 ac (17,000 SF)
APN
25262.0702
UPID
US90-0818733
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 Current
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.6M
RESTAURANT
Est. value
$1.5M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
RESTAURANT
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
1990
Heating
NONE
Stories
2
Buildings
2
Bathrooms
2
Lot
0.39 ac
Current owner
From public records · entity-resolved
Garden Springs At I90 LLC
Entity
Mailing address
1717 S RUSTLE ST STE #203, SPOKANE, WA 99224-2088
Ownership since
2019
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
Apr 29, 2024
—
Garden Springs At 190 LLC
—
Deed
related
$199,156 · Numerica Cu
Mar 1, 2021
—
Garden Springs At I90 LLC
—
Deed
related
$2,000,000 · Numerica Cu
Aug 31, 2020
—
Garden Springs At 190 LLC
—
Deed
related
$500,000 · Numerica Cu
Oct 9, 2019
—
Garden Springs At 190 LLC
—
Deed
related
$250,000 · Numerica Cu
Jun 7, 2019
$1,150,000
Garden Springs At I90 LLC
Cotter Health Centers INC
Warranty Deed
$862,500 · Numerica Cu
Aug 31, 2001
$2,525,000
Cotter Health Centers INC
Garden Springs Professional Bu
Grant Deed
$1,921,149 · Farmers & Merchants Bk Rockfor
—
—
Garden Springs At 190 LLC
—
Loan Modification
related
$500,000 · Numerica Cu
—
—
Garden Springs Professional
—
Deed Of Trust
related
$765,000 · Us Bank Of Washington
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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