Financial
Distress signals
Property profile

228 West Indiana Ave Spokane, WA 99205

FOR SALE
Office buildings
Property ID
US90-0264889
1,950 SF 0.16 ac lot Built 1976
Last sale Nov 2025 · $315,000
Entity Owned Owner of record is a legal entity (LLC / corporation). ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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228 West Indiana Ave, Spokane, WA 99205 For Sale
Contact for pricing 1,950 SF
228 West Indiana Ave, Spokane, WA 99205
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Property summary

AI-generated overview

A stand-alone, single-level office building in Spokane, located approximately two blocks west of Division and about one mile from downtown, containing approximately 1,950 square feet of office space and an additional 120-square-foot storage area. The interior layout includes nine private offices, a reception area, and separate restrooms for men and women. Exterior features include 12 dedicated parking stalls, additional street parking, and alley access, along with low-maintenance landscaping.

Ownership intelligence

Who controls the opportunity?

Resolved identity, portfolio, hold profile and investor signals. Included in the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$3k
Tax billed · 2023
Assessed value · 2024$300k
Assessed land$56k
Assessed improvement$244k
Effective rate0.98%

Value estimate

· Sep 2026
$325k
$293k – $358k
AI approach$325k
NOI build-up
Gross scheduled income$43k
Vacancy & credit loss−$6k
Operating expenses−$9k
NOI · 7.00% cap applied$28k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$220/SF
ZIP average, outlier-cleaned · 22 recorded sales of this use type
Observed band · Q1–Q3$143 – $287

Cap rate analysis

How does the asset earn?
7.00%
$28k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionSPOKANE

Location intelligence

Which uses thrive at this corner?
Best fit: HVAC Service
Demand heat for this use is drawn on the map · LocInt grid
Demand index
HVAC Service11.4
Electrical Service11.2
Tailor Shop10.3

Location

228 West Indiana Ave Spokane, WA 99205
County assessor Recorded deeds · 4 transfers Qualifying comp sales · not on file Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
914 Garland, Spokane, WA 99205-2819 $2,800,000 Jun 2024 2,016 SF
22 Indiana, Spokane, WA 99205-4825 $285,000 Jun 2024 1,990 SF
727 Francis, Spokane, WA 99205-6407 $470,000 Apr 2023 1,982 SF
1401 Wnw, Spokane, WA 99205-4371 $343,000 Oct 2022 1,717 SF
1007 Augusta, Spokane, WA 99205-4507 $180,000 Jul 2022 1,785 SF
5625 Wall, Spokane, WA 99205-6435 $277,500 Nov 2020 1,968 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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