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Property profile & analytics
OFF-MARKET
Estimated value
$1,525,000
Office buildings
1817 Springfield Ave Spokane, WA 99202-2913
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-2764666
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1962
Total area
4,877 SF
Lot
1.3 ac (56,800 SF)
APN
35163.0311
UPID
US90-2764666
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
-
DAJ Taxi Cab Courier Service
-
Lund Law Offices Law Firm
-
Amy Corman Counselor Practitioner Service Location
-
Jamie Clark Counselor
-
Temple Massage Therapy Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.88M
CAP Approach
CAP
$1.15M
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$1.53M
Owner & transaction history
Christina Picanso · 1 yrs held
Christina Picanso
since 2025
Last sale
$1.6M
5 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
$1,875,000
ML approach
$1,880,000
CAP Approach
CAP Return
Estimation
6%
$1,240,000
6.5%
$1,145,000
7%
$1,065,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,220,000
Current use
MEDICAL BUILDING
$1,160,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$1.53M
Range $1.37M – $1.68M · ±10% · vs last sale $1.60M (Jun 2 2025)
Last sale anchor
$1.60M
Jun 2 2025
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
$313 / 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
$6,749
Tax year 2023
Assessed value
$690,900
Assessed 2024
Previous assessed
$590,300
+17.0% YoY
Effective rate
0.98%
On assessed value
Assessed land
$227,200
Assessed improvement
$463,700
Land market value
$227,200
Improvement market value
$463,700
Total market value
$690,900
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1962
Heating
NONE
Buildings
2
Stories
1
Total area
4,877 SF
Lot
1.3 ac (56,800 SF)
APN
35163.0311
UPID
US90-2764666
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
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING Current
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
1962
Heating
NONE
Stories
1
Buildings
2
Lot
1.3 ac
Current owner
From public records · entity-resolved
Christina Picanso
Individual
Mailing address
PO BOX 8318, SPOKANE, WA 99203-0318
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2025
$1,600,000
Christina Picanso
Jayn P Courchaine
Warranty Deed
$1,600,000 · Jayn P Chourchaine
Jan 22, 2025
$339,600
Jayn P Courchaine
Noun LLC
Deed
—
Apr 9, 2021
—
Noun LLC
—
Deed
related
$200,000 · Jayn P Courchaine
Jun 28, 2018
—
Noun LLC
—
Deed
related
$50,000 · Jayn P Courchaine
—
—
Noun LLC
—
Deed Of Trust
related
$50,000 · Jayn P Courchaine
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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