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Property profile & analytics
OFF-MARKET
Estimated value
$1,795,000
Medical Office Space
2126 Monroe St Spokane, WA 99205-4543
Individually Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1989734
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1947
Total area
11,034 SF
Lot
0.41 ac (18,000 SF)
APN
35073.1711
UPID
US90-1989734
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
-
CSL Plasma Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.20M
Comparable Approach
Comparable
$1.23M
Blend (final)
Blend
$1.80M
Owner & transaction history
Robert C Lipe · 13 yrs held
Robert C Lipe
since 2012
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,375,000
6.5%
$2,195,000
7%
$2,035,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,625,000
Current use
RESTAURANT
$2,445,000
Change: -7% · Conversion: Difficult
OFFICE BUILDING
$2,420,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,180,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.80M
Range $1.62M – $1.97M · ±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
$163 / 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
$27,252
Tax year 2023
Assessed value
$2,794,900
Assessed 2024
Previous assessed
$2,601,900
+7.4% YoY
Effective rate
0.98%
On assessed value
Assessed land
$180,000
Assessed improvement
$2,614,900
Land market value
$180,000
Improvement market value
$2,614,900
Total market value
$2,794,900
Applied tax rate
12.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1947
Heating
NONE
Stories
1
Total area
11,034 SF
Lot
0.41 ac (18,000 SF)
APN
35073.1711
UPID
US90-1989734
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
MEDICAL BUILDING Current
Est. value
$2.6M
RESTAURANT
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.2M
MEDICAL BUILDING Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1947
Heating
NONE
Stories
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Robert C Lipe
Individual
Free & Clear · 13 yrs held
Mailing address
900 BROKEN SOUND PKWY NW STE #400, BOCA RATON, FL 33487-3575
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
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
Dec 6, 2012
—
Robert C Lipe
Oxrieder,ken O & Jean
Warranty Deed
related
—
Nov 7, 2012
$685,000
Spokane Investments L Flagship
Khokhar,mahmood A & Shaazia A
Warranty Deed
—
Jan 20, 2006
$850,000
Mahmood A Khokhar
North Monroe Street Prop LLC
Grant Deed
$150,000 · North Monroe Street Prop LLC
Oct 26, 2005
—
North Monroe Street Props LLC
Lipe,robert C
Warranty 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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