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Property profile & analytics
OFF-MARKET
Estimated value
$1,885,000
Medical Office Space
2230 29th Ave Spokane, WA 99203
Entity Owned
Free & Clear
Property ID
US90-0647876
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Total area
12,332 SF
Lot
1.2 ac (52,199 SF)
APN
35331.4307
UPID
US90-0647876
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
by Request
CAP Approach
CAP
$2.45M
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$1.89M
Owner & transaction history
SONNELAND COMMERCIAL PROPERTIES LLC
SONNELAND COMMERCIAL PROPERTIES LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.1M
+5.2%
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%
$2,655,000
6.5%
$2,450,000
7%
$2,275,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,935,000
Current use
OFFICE BUILDING
$3,085,000
Change: +5% · Conversion: Easy
RETAIL STORES
$2,840,000
Change: -3% · Conversion: Difficult
RESTAURANT
$2,735,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,435,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.89M
Range $1.70M – $2.07M · ±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
$153 / 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
$29,389
Tax year 2023
Assessed value
$3,012,890
Assessed 2024
Previous assessed
$2,320,980
+29.8% YoY
Effective rate
0.98%
On assessed value
Assessed land
$521,990
Assessed improvement
$2,490,900
Land market value
$521,990
Improvement market value
$2,490,900
Total market value
$3,012,890
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Heating
NONE
Stories
2
Bathrooms
4
Total area
12,332 SF
Lot
1.2 ac (52,199 SF)
APN
35331.4307
UPID
US90-0647876
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
$2.9M
OFFICE BUILDING
Est. value
$3.1M
RETAIL STORES
Est. value
$2.8M
RESTAURANT
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.4M
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
RESTAURANT
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
2007
Heating
NONE
Stories
2
Bathrooms
4
Lot
1.2 ac
Current owner
From public records · entity-resolved
SONNELAND COMMERCIAL PROPERTIES LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 562, COLBERT, WA 99005-0562
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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