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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    22 Central Ave Spokane, WA 99205-6221

    • Office buildings
    • 1,880 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    $390,000
    Show details
    Cap Rate Potential
    9.2%
    Office buildings
    Location Intelligence
    Property ID
    US90-1032824
    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

    • Parks Sarah N / Physical Therapist
    • Bump Aesthetics LLC / Spa
    • Peachy With V / Skin Care Clinic
    • Tara House Esthetics / Health And Beauty Shop
    • Evoke Aesthetics / Make-Up Artist / Teeth Whitening Service

    Property Details for 22 Central Ave

    Year built
    1961
    Construction
    STEEL FRAME
    Lot size
    0.18 lot acres
    Property size
    1,880 SF
    Property type
    Office buildings
    APN
    36311.1607
    APU
    363111607

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $480,000
      6.5%
      $440,000
      7%
      $410,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $406,000
      Market price range: $172k - $419k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $415,000
      Current use
      MEDICAL BUILDING
      $445,000
      Change: +8% Conversion: Easy
      AUTO REPAIR, GARAGE
      $370,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.412
    Latitude
    47.7117
    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
    $3,732
    $115,200
    $266,300
    $381,500
    -
    $115,200
    $266,300
    $381,500

    Comparable in this City

    • Value Estimation
      $260,000
      1,181 SF

      1321 Wnw Blvd

      OFFICE BUILDING • 1,181 SF
      1321 Wnw Blvd, Spokane, WA 99205-4344
      View Details
    • Value Estimation
      $290,000
      528 SF

      1716 Ash St

      OFFICE BUILDING • 528 SF
      1716 Ash St, Spokane, WA 99205-4202
      View Details
    • Value Estimation
      $270,000
      1,056 SF

      1720 Ash St

      OFFICE BUILDING • 1,056 SF
      1720 Ash St, Spokane, WA 99205-4202
      View Details
    • Value Estimation
      $235,000
      888 SF

      5622 Wall St

      OFFICE BUILDING • 888 SF
      5622 Wall St, Spokane, WA 99205-6436
      View Details
    • Value Estimation by Request
      2,658 SF

      2026 Washington St

      OFFICE BUILDING • 2,658 SF
      2026 Washington St, Spokane, WA 99205-4714
      View Details
    • Value Estimation
      $300,000
      6,308 SF

      25 Nora Ave

      OFFICE BUILDING • 6,308 SF
      25 Nora Ave, Spokane, WA 99205-4800
      View Details

    Similar Nearby for Sale

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      3,727 SF

      Spokane Office Building For Sale

      3,727 SF office building in prime Spokane location.
      731 W Indiana Ave, Spokane, WA 99205
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    • $249,000

      Corner Office Building with Parking

      One-level office building with basement, parking, and flexible layout.
      2026 N Washington St, Spokane, WA 99205
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    • $299,900
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      Single-Level Office Building Near Downtown

      Stand-alone office building with functional layout and dedicated parking.
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    • $600,000
      2,748 SF

      Former Dental Office Space

      2,748 SF office space suitable for medical or professional use.
      707 W Francis Ave, Spokane, WA 99205
      View Details
    • $550,000
      3,727 SF

      Spokane Medical Office Building

      Prime Spokane medical office, 3,727 SF
      731 Indiana Ave, Spokane, WA 99205
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    • $531,000
      2,291 SF

      Spokane Commercial Office Opportunity

      Commercial zoned property with multiple garages and potential uses.
      6227 N Elm St, Spokane, WA 99205
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo
      700 SF

      Office Space For Rent

      Office space available for lease in Spokane, WA.
      5503 N Wall St, Spokane, WA 99205
      View Details
    • $1,650 /Mo
      5,701 SF

      Corner Retail and Office Space

      Retail and office space available on corner of N. Wall.
      5524 N Wall St, Spokane, WA 99205
      View Details
    • $17 SF/Yr
      2,010 SF

      Versatile Office Space Available

      Sublease opportunity: 2,010 SF suite in well-located building.
      19 E Queen Ave, Spokane, WA 99205
      View Details
    • $14 SF/Yr
      11,911 SF

      Spokane Office Space For Rent

      Available office space in Spokane, Washington, totaling 11,911 square feet.
      1628 S Windsor Dr, Spokane, WA 99205
      View Details
    • $14 SF/Yr
      1,689 SF

      Prime Medical/Office Space Available

      1,689 SF, High Visibility Corner
      4610 Ash St, Spokane, WA 99205
      View Details
    • Contact for pricing
      1,049 SF

      Corner Buildable Land Parcel

      Located on the corner of N. Maple St. and W. Francis Ave.
      6222 N Maple St, Spokane, WA 99205
      View Details
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    22 Central Ave
    Spokane, WA 99205-6221
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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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