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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1721 Monroe St Spokane, WA 99205

    • Warehouses
    • 3,550 SF
    • 0.09 lot acres
    OFF-MARKET
    Last Sale
    Apr 29, 2024
    $250,000
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    9.3%
    Warehouses
    Location Intelligence
    Property ID
    US90-0715359
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 1721 Monroe St

    Year built
    1947
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.09 lot acres
    Property size
    3,550 SF
    Property type
    Warehouses
    APN
    35073.5314
    APU
    350735314

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $250,000
      ML approach
      $250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $385,000
      6.5%
      $355,000
      7%
      $330,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $273,000
      Market price range: $274k - $634k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.427
    Latitude
    47.6738
    CBSA code
    44060
    CBSA name
    SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,398
    $39,760
    $102,400
    $142,160
    -
    $39,760
    $102,400
    $142,160

    Comparable in this City

    • Value Estimation
      $325,000
      968 SF

      1627 Atlantic St

      WAREHOUSE, STORAGE • 968 SF
      1627 Atlantic St, Spokane, WA 99205-4821
      View Details
    • Value Estimation by Request
      4,920 SF

      1711 Division St

      Distribution properties • 4,920 SF
      1711 Division St, Spokane, WA 99205
      View Details
    • Value Estimation
      $920,000
      30,600 SF

      1120 Francis Ave

      WAREHOUSE, STORAGE • 30,600 SF
      1120 Francis Ave, Spokane, WA 99205-6639
      View Details
    • Value Estimation
      $285,000
      960 SF

      2101 Monroe St

      WAREHOUSE, STORAGE • 960 SF
      2101 Monroe St, Spokane, WA 99205
      View Details
    • Value Estimation
      $480,000
      10,000 SF

      4401 Aubrey L White Pkwy

      WAREHOUSE, STORAGE • 10,000 SF
      4401 Aubrey L White Pkwy, Spokane, WA 99205-3939
      View Details
    • Value Estimation
      $650,000
      5,880 SF

      2904 Monroe St

      WAREHOUSE, STORAGE • 5,880 SF
      2904 Monroe St, Spokane, WA 99205-3359
      View Details

    Similar Nearby for Sale

    • $550,000
      5,055 SF

      Spokane Warehouse with Office Space

      Warehouse with office space for sale in Spokane, Washington.
      630 W Shannon Ave, Spokane, WA 99205
      View Details
    • $600,000
      2,748 SF

      Former Dental Office Space

      2,748 SF office space suitable for medical or professional use.
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    • $563,200

      Commercial Land in High-Traffic Area

      Land for commercial use in North Spokane's growing corridor.
      100-108 W Francis Ave, Spokane, WA 99205
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    • $2,230,000
      616 SF

      Established Espresso Stand For Sale

      Turnkey espresso stand business and real estate opportunity on high-traffic corner.
      2503 W Northwest Blvd, Spokane, WA 99205
      View Details
    • $600,000
      0.14 Acres

      Spokane Multifamily Investment Opportunity

      Well-maintained 5-unit property in a desirable Spokane neighborhood.
      1619 N Madison St, Spokane, WA 99205
      View Details
    • $550,000
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      Spokane Commercial Building - $550k

      Versatile Warehouse & Office Space
      630 Shannon Ave, Spokane, WA 99205
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      4,920 SF

      Division Street Warehouse Opportunity

      Prime Spokane Warehouse, High Traffic
      1711 Division St, Spokane, WA 99205
      View Details
    • $10 SF/Yr
      18,000 SF

      Spokane Warehouse: 18,000 SF

      ±18,000 SF warehouse, Spokane, WA
      520 Dalton Ave, Spokane, WA 99205
      View Details
    • $15,000 /Mo
      11,897 SF

      Industrial Space Available for Rent

      Industrial property offering 11897 square feet of space.
      3830 E Olympic Ave, Spokane, WA 99205
      View Details
    • Contact for pricing
      1,049 SF

      Corner Buildable Land Parcel

      Located on the corner of N. Maple St. and W. Francis Ave.
      6222 N Maple St, Spokane, WA 99205
      View Details
    • $4,000 /Mo
      700 SF

      Office Space For Rent

      Office space available for lease in Spokane, WA.
      5503 N Wall St, Spokane, WA 99205
      View Details
    • $1,600 /Mo
      5,200 SF

      Retail Space on Corner Lot

      1,200 SF retail space available on corner lot.
      323 W Indiana Ave, Spokane, WA 99205
      View Details
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    1721 Monroe St
    Spokane, WA 99205
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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