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Property profile & analytics
FOR LEASE
Retail space
206 E Wellesley Ave Spokane, WA 99207
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1325973
For Lease
$1,200/Mo
206 E Wellesley Ave, Spokane, WA 99207
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1952
Construction
STEEL FRAME
Total area
1,723 SF
Lot
0.13 ac (5,791 SF)
APN
35052.0304
UPID
US90-1325973
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
-
Sparky's Bird Store (Bike/Boat/Book/etc) Store Pet Store
-
Bird Lovers Outlet Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Ltb LLC · 1 yrs held
Ltb LLC
since 2025
Last sale
$155,000
4 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,723
Tax year 2023
Assessed value
$175,520
Assessed 2024
Previous assessed
$155,830
+12.6% YoY
Effective rate
0.98%
On assessed value
Assessed land
$49,220
Assessed improvement
$126,300
Land market value
$49,220
Improvement market value
$126,300
Total market value
$175,520
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1952
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
1
Total area
1,723 SF
Lot
0.13 ac (5,791 SF)
APN
35052.0304
UPID
US90-1325973
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
Building & site characteristics
From public records
Year built
1952
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Ltb LLC
Entity
Mailing address
203 E HOFFMAN AVE, SPOKANE, WA 99207-1541
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2026
—
Ltb LLC
—
Deed
related
$295,000 · S&b Financial Group LLC
Apr 4, 2025
$155,000
Ltb LLC
Mark J Settle
Warranty Deed
$355,000 · Pacific Premier Bank
Apr 1, 2025
—
The Easy Home Buyer LLC
Mark J Settle
Deed
—
Jan 25, 2010
—
Mark J Settle
Settle,jeanne A
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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