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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office buildings
210 Simpson Pkwy, Cheney, WA 99004-5001
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US90-0594746
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Total area
2,078 SF
Lot
9.16 ac (399,010 SF)
APN
13121.0008
UPID
US90-0594746
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$585k
CAP Approach
CAP
$400k
Comparable Approach
Comparable
$786k
Blend (final)
Blend
$565k
Owner & transaction history
Boulder Apartments LLC · 22 yrs held
Boulder Apartments LLC
since 2004
6 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 Cheney submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cheney 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
$585,000
CAP Approach
CAP Return
Estimation
6%
$435,000
6.5%
$400,000
7%
$375,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$500,000
Current use
MEDICAL BUILDING
$450,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±10%
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
$272 / 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
$165,403
Tax year 2023
Assessed value
$19,817,500
Assessed 2024
Previous assessed
$12,858,800
+54.1% YoY
Effective rate
0.83%
On assessed value
Assessed land
$598,520
Assessed improvement
$19,218,980
Land market value
$598,520
Improvement market value
$19,218,980
Total market value
$19,817,500
Applied tax rate
110.0000
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
2004
Heating
NONE
Buildings
8
Stories
3
Total area
2,078 SF
Lot
9.16 ac (399,010 SF)
APN
13121.0008
UPID
US90-0594746
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
$500,000
MEDICAL BUILDING
Est. value
$450,000
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
2004
Heating
NONE
Stories
3
Buildings
8
Lot
9.16 ac
Current owner
From public records · entity-resolved
Boulder Apartments LLC
Entity
Mailing address
24201 E KNOX AVE, LIBERTY LAKE, WA 99019-6028
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2004
—
Boulder Apartments LLC
Gillingham,john W
Quit Claim Deed
related
—
Jan 8, 2004
$250,000
John W Gillingham
Valdale Properties LLC
Grant Deed
$200,000 · Valdale Properties LLC
Dec 6, 2002
—
Cheney City (wa)
Valdale Properties LLC
Quit Claim Deed
related
—
—
—
Boulder Apartments LLC
—
Deed Of Trust
related
$8,000,000 · Walker & Dunlop
—
—
Boulder Apartments LLC
—
Deed Of Trust
related
$7,750,000 · Transamerica Occidental Life
—
—
Boulder Apartments LLC
—
Deed Of Trust
related
$7,100,000 · Us Bank NA
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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