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Property profile & analytics
FOR SALE
Office buildings
22820 E Appleway Ave, Liberty Lake, WA 99019
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-1123532
For Sale
1 / 2
$5,800,000
22820 E Appleway Ave, Liberty Lake, WA 99019
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
36,440 SF
Lot
1.77 ac (77,101 SF)
APN
55104.9056
UPID
US90-1123532
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
$4.25M
CAP Approach
CAP
$7.06M
Comparable Approach
Comparable
$6.84M
Blend (final)
Blend
$5.49M
Owner & transaction history
Sd Appleway LLC · 3 yrs held
Sd Appleway LLC
since 2022
Last sale
$5.3M
7 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 Liberty Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Liberty Lake 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
$4,300,000
ML approach
$4,250,000
CAP Approach
CAP Return
Estimation
6%
$7,645,000
6.5%
$7,060,000
7%
$6,555,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,750,000
Current use
MEDICAL BUILDING
$7,925,000
Change: -9% · Conversion: Easy
RESTAURANT
$7,860,000
Change: -10% · Conversion: Moderate
Blend value · Realmo final
$5.49M
Range $4.94M – $6.04M · ±10% · vs last sale $5.25M (Dec 1 2022)
Last sale anchor
$5.25M
Dec 1 2022
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
$151 / 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
$52,565
Tax year 2023
Assessed value
$5,726,410
Assessed 2024
Previous assessed
$4,829,150
+18.6% YoY
Effective rate
0.92%
On assessed value
Assessed land
$539,710
Assessed improvement
$5,186,700
Land market value
$539,710
Improvement market value
$5,186,700
Total market value
$5,726,410
Applied tax rate
1,420.0000
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
For Sale
Year built
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Total area
36,440 SF
Lot
1.77 ac (77,101 SF)
APN
55104.9056
UPID
US90-1123532
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
$8.8M
MEDICAL BUILDING
Est. value
$7.9M
RESTAURANT
Est. value
$7.9M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
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
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Lot
1.77 ac
Current owner
From public records · entity-resolved
Sd Appleway LLC
Entity
Free & Clear · 3 yrs held
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2022
—
Sd Appleway LLC
Dl Appleway LLC
Quit Claim Deed
related
—
Dec 28, 2012
$5,250,000
Dl Appleway LLC
Schmautz,steven D & Tresa
Warranty Deed
$1,207,940 · Numerica Cu
Dec 20, 2012
—
Steven D Schmautz
Sds Properties Liberty Lake Ll
Quit Claim Deed
related
—
Mar 31, 2000
$1,079
Properties Liberty Lake Sds
Marzetta Trust
Grant Deed
$1,729,129 · United Security Bank
—
—
Sds Properties Liberty Lake Ll
—
Deed Of Trust
related
$400,000 · American West Bank
—
—
Sds Properties Liberty Lk LLC
—
Deed Of Trust
related
$2,920,000 · American West Bank
—
—
Sds Properties Liberty Lk LLC
—
Deed Of Trust
related
$2,925,000 · Numerica Cu
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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