Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    2301 Wellesley Ave Spokane, WA 99205-5004

    Property Lookup

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

    2301 Wellesley Ave Spokane, WA 99205-5004

    View on Map
    • Outlet malls
    • 154,455 SF
    • 11.29 lot acres
    Off-Market
    Property ID
    US90-1145263
    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.
    Value Estimations
    $19,230,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Subway / Take-out & Catering / Catering Service
    • Walmart Photo Center / (Bike/Boat/Book/etc) Store
    • Walmart / Grocery & Convenience Store / Food Market
    • Walmart Vision & Glasses / Ophthalmologist / (Bike/Boat/Book/etc) Store
    • Minute Key / Locksmith / (Bike/Boat/Book/etc) Store

    Property Details for 2301 Wellesley Ave

    Year built
    1999
    Lot size
    11.29 lot acres
    Property size
    154,455 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    25012.0022
    APU
    250120022

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $26,710,000
      6.5%
      $24,655,000
      7%
      $22,895,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $16,970,000
      Market price range: $13.2M - $27.6M
      AI Estimate
      $16,057,000
      Market price range: $8.85M - $28.6M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $18,605,000
      Current use
      AUTO REPAIR, GARAGE
      $30,525,000
      Change: +64% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $27,800,000
      Change: +49% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $24,925,000
      Change: +34% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.446
    Latitude
    47.6995
    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
    $146,352
    $2,459,840
    $12,548,400
    $15,008,240
    -
    $2,459,840
    $12,548,400
    $15,008,240

    Comparable in this City

    • Value Estimation by Request
      5,452 SF

      3024 Monroe St

      WHOLESALE OUTLET, DISCOUNT STORE • 5,452 SF
      3024 Monroe St, Spokane, WA 99205-3361
      View Details
    • Value Estimation
      $635,000
      3,755 SF

      22 Mansfield Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 3,755 SF
      22 Mansfield Ave, Spokane, WA 99205-4835
      View Details
    • Value Estimation by Request
      5,353 SF

      1921 Wnw Blvd

      SHOPPING CENTER, STRIP CENTER • 5,353 SF
      1921 Wnw Blvd, Spokane, WA 99205-3714
      View Details
    • Value Estimation by Request
      12,500 SF

      1608 Rowan Ave

      SHOPPING CENTER, STRIP CENTER • 12,500 SF
      1608 Rowan Ave, Spokane, WA 99205-5533
      View Details
    • Value Estimation
      $3,555,000
      17,997 SF

      5528 Ash St

      SHOPPING CENTER, STRIP CENTER • 17,997 SF
      5528 Ash St, Spokane, WA 99205-6802
      View Details
    • Value Estimation by Request
      0.09 Acres

      6118 Atlantic St

      RETAIL STORES (PERSONAL SERVICES) • 0.09 Acres
      6118 Atlantic St, Spokane, WA 99205
      View Details

    Similar Nearby for Sale

    • $35,000,000
      163,161 SF

      Grocery Anchored Retail Center

      Established retail destination with diverse tenants and strong market presence.
      1628-1902 W Francis Ave, Spokane, WA 99205
      View Details
    • Contact for pricing
      7,915 SF

      North Spokane Retail Investment Opportunity

      Multi-tenant retail building in established commercial corridor.
      5525 N Alberta St, Spokane, WA 99205
      View Details
    • $2,078,500

      Established Espresso Stand For Sale

      Turnkey espresso stand business and real estate opportunity on high-traffic corner.
      2503 W Northwest Blvd, Spokane, WA 99205
      View Details
    • Contact for pricing
      1,930 SF

      Commercially Zoned Building For Rent

      Commercially zoned building with multiple suites available for rent.
      1211 W Northwest Blvd, Spokane, WA 99205
      View Details
    • Contact for pricing
      2,786 SF

      Drive-Thru Restaurant Opportunity

      2nd generation drive-thru restaurant space available for sale.
      1812 W Northwest Blvd, Spokane, WA 99205
      View Details
    • $1,495,000

      Spokane Restaurant/Retail Opportunity For Sale

      Turn-key restaurant or retail opportunity in Spokane, WA.
      3315 W Northwest Blvd, Spokane, WA 99205
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,000 SF

      Retail Center Space Available

      Retail spaces available in high-visibility Spokane location.
      4411-4507 W Wellesley Ave, Spokane, WA 99205
      View Details
    • $1,700 /Mo
      12,114 SF

      Retail Space Near Northwest Blvd

      Retail spaces available near Northwest Blvd and Alberta Street intersection.
      2613 W 2611 - Blvd Northwest, Spokane, WA 99205
      View Details
    • $12 SF/Yr

      Retail Space on N Monroe

      Retail space available at the corner of N Monroe.
      1705 N Monroe St, Spokane, WA 99205
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available for lease, approximately 1,500 square feet.
      8 W Indiana Ave, Spokane, WA 99205
      View Details
    • Contact for pricing

      Retail Space on Corner Location

      Retail space available on corner of West Indiana Avenue.
      319 W Indiana Ave, Spokane, WA 99205
      View Details
    • $1,650 /Mo

      Corner Retail and Office Space

      Retail and office space available on corner of N. Wall.
      5524 N Wall St, Spokane, WA 99205
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2301 Wellesley Ave
    Spokane, WA 99205-5004
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    2301 Wellesley Ave, Spokane, WA, 99205

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!