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Property profile & analytics
OFF-MARKET
Estimated value
$1,880,000
Distribution centers
2018 Riverside Ave Spokane, WA 99202-5068
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-0644889
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2007
Total area
11,888 SF
Lot
0.59 ac (25,654 SF)
APN
35163.4215
UPID
US90-0644889
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
-
WaterDaddy Home Appliance Store Hardware & Home Improvement
-
GolfCarts.com Golf Cart Dealer
-
A1 Auto Sales of Spokane Car Dealership
-
NextHome Living The Northwest Real Estate Agency
-
Aqua Living Factory Outlets (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.20M
Comparable Approach
Comparable
$1.20M
Blend (final)
Blend
$1.88M
Owner & transaction history
Lees Group LLC · 5 yrs held
Lees Group LLC
since 2020
Last sale
$1.3M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.9M
+21.1%
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%
$1,295,000
6.5%
$1,195,000
7%
$1,110,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,585,000
Current use
COMMERCIAL (GENERAL)
$1,920,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$1.88M
Range $1.69M – $2.07M · ±10% · vs last sale $1.30M (Aug 31 2020)
Last sale anchor
$1.30M
Aug 31 2020
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
$158 / 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
$12,243
Tax year 2023
Assessed value
$1,254,390
Assessed 2024
Previous assessed
$1,021,340
+22.8% YoY
Effective rate
0.98%
On assessed value
Assessed land
$89,790
Assessed improvement
$1,164,600
Land market value
$89,790
Improvement market value
$1,164,600
Total market value
$1,254,390
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2007
Heating
NONE
Stories
2
Total area
11,888 SF
Lot
0.59 ac (25,654 SF)
APN
35163.4215
UPID
US90-0644889
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
WAREHOUSE, STORAGE Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.9M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
2007
Heating
NONE
Stories
2
Lot
0.59 ac
Current owner
From public records · entity-resolved
Lees Group LLC
Entity
Free & Clear · 5 yrs held
Mailing address
10902 E PIERCE LN, SPOKANE, WA 99206-6071
Ownership since
2020
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
Aug 31, 2020
$1,301,100
Lees Group LLC
Inland Nw Invs LLC
Warranty Deed
—
Dec 13, 2019
—
Inland Nw Invs LLC
—
Deed
related
$482,445 · River Bk
Jun 4, 2008
—
Inland Northwest Investments
Vandinter,michael G & Sheryl A
Quit Claim Deed
related
—
Nov 13, 2006
—
Michael Vandinter
—
Trustees Deed
related
$700,000 · Riverbank
—
—
Inland Nw Invs LLC
—
Deed Of Trust
related
$482,445 · River 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.
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