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    Property profile & analytics

    2021 29th Ave Spokane, WA 99203-3957

    • Office buildings
    • 16,560 SF
    • 0.68 lot acres
    OFF-MARKET
    Last Sale
    Dec 24, 2024
    Value Estimations
    $3,540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2376376
    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

    • Weldon Barber / Barber Shop

    Property Details for 2021 29th Ave

    Year built
    2009
    Lot size
    0.68 lot acres
    Property size
    16,560 SF
    Property type
    Office buildings
    APN
    35283.3322
    APU
    352833322

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,215,000
      6.5%
      $3,890,000
      7%
      $3,615,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,409,000
      Market price range: $873k - $3.67M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,140,000
      Current use
      MEDICAL BUILDING
      $3,940,000
      Change: -5% Conversion: Easy
      RETAIL STORES
      $3,815,000
      Change: -8% Conversion: Moderate
      RESTAURANT
      $3,670,000
      Change: -11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.381
    Latitude
    47.6285
    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
    $40,974
    $236,900
    $3,964,100
    $4,201,000
    -
    $236,900
    $3,964,100
    $4,201,000

    Comparable in this City

    • Value Estimation
      $1,970,000
      9,775 SF

      3707 Grand Blvd

      OFFICE BUILDING • 9,775 SF
      3707 Grand Blvd, Spokane, WA 99203-2762
      View Details
    • Value Estimation
      $810,000
      3,351 SF

      1923 Grand Blvd

      PROFESSIONAL BUILDING • 3,351 SF
      1923 Grand Blvd, Spokane, WA 99203-2347
      View Details
    • Value Estimation by Request
      8,055 SF

      2814 Grand Blvd

      PROFESSIONAL BUILDING • 8,055 SF
      2814 Grand Blvd, Spokane, WA 99203-2528
      View Details
    • Value Estimation
      $2,435,000
      10,978 SF

      2001 29th Ave

      OFFICE BUILDING • 10,978 SF
      2001 29th Ave, Spokane, WA 99203-3957
      View Details
    • Value Estimation
      $900,000
      1,338 SF

      3424 Grand Blvd

      OFFICE BUILDING • 1,338 SF
      3424 Grand Blvd, Spokane, WA 99203-2621
      View Details
    • Value Estimation
      $1,135,000
      6,812 SF

      1919 Grand Blvd

      PROFESSIONAL BUILDING • 6,812 SF
      1919 Grand Blvd, Spokane, WA 99203-2347
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,234 SF

      Spokane Office Units For Sale

      Office units available in Spokane, WA, totaling 807 square feet.
      2005 E 29Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing
      0.16 Acres

      Spokane Landlocked South Hill Lot

      Landlocked South Hill lot ideal for neighborhood residents.
      1125 E 32Nd Ave, Spokane, WA 99203
      View Details
    • Contact for pricing

      Development Land Near Fairchild AFB

      6.95 acres of development land near Fairchild AFB.
      W 16Th Ave, Airway Heights, WA 99203
      View Details
    • $1,250,000
      4,560 SF

      South Hill Updated Duplex Units

      Two well-maintained duplexes in excellent South Hill location.
      1225/1301 E 29Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing

      Airway Heights Warehouse Opportunity

      Warehouse in Airway Heights with fenced yard and power.
      12825 W 17Th Ave, Airway Heights, WA 99203
      View Details
    • $225,000
      0.32 Acres

      South Hill Development Opportunity

      Cleared, level lot on Spokane's South Hill.
      2101 E 30Th Ave, Spokane, WA 99203
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail and Office Spaces Available

      Retail and office spaces available for lease.
      2005 E 29Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing

      Flexible Office/Retail Space Available

      Office/retail spaces ranging from 262 to 2,102 SF for rent.
      1001 W 25Th Ave, Spokane, WA 99203
      View Details
    • $24 SF/Yr

      South Hill Office Space Available

      Office space for rent with ample on-site parking.
      1403 S Grand Blvd, Spokane, WA 99203
      View Details
    • Contact for pricing

      Class A Medical Office Building

      Class A medical office building in established South Hill location.
      3707 S Grand Blvd, Spokane, WA 99203
      View Details
    • $1,920 /Mo

      South Hill Retail or Office

      Corner lot location ideal for retail or office use.
      1001 W 25Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing
      27,443 SF

      Commercial Land Available For Rent

      Commercial land for rent in Spokane, WA. 27,443 square feet.
      2515-2529 N Division St, Spokane, WA 99203
      View Details
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    Spokane, WA 99203-3957
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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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