Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2424 Division St Spokane, WA 99207-2124

    • Retail space
    • 41,924 SF
    • 1.33 lot acres
    OFF-MARKET
    Value Estimations
    $3,665,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3359315
    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

    • The General Store / (Bike/Boat/Book/etc) Store
    • The General Store & Ace Hardware / Department Store
    • Resharp / Sharpening Service
    • Atom Garage Door Opener Repair / Building Supply / General Contractor

    Property Details for 2424 Division St

    Year built
    1960
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.33 lot acres
    Property size
    41,924 SF
    Property type
    Retail space
    APN
    35082.3301
    APU
    350823301

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,607,000
      Market price range: $4.49M - $17.6M
      AI Estimate
      $2,294,000
      Market price range: $2.26M - $9.00M

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.41
    Latitude
    47.6801
    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
    $24,011
    $1,508,000
    $953,300
    $2,461,300
    -
    $1,508,000
    $953,300
    $2,461,300

    Comparable in this City

    • Value Estimation
      $3,405,000
      16,230 SF

      3131 Division St

      RETAIL STORES (PERSONAL SERVICES) • 16,230 SF
      3131 Division St, Spokane, WA 99207-1900
      View Details
    • Value Estimation
      $2,040,000
      10,364 SF

      3201 Division St

      RETAIL STORES (PERSONAL SERVICES) • 10,364 SF
      3201 Division St, Spokane, WA 99207-1945
      View Details
    • Value Estimation by Request
      1,824 SF

      2725 Division St

      RETAIL STORES (PERSONAL SERVICES) • 1,824 SF
      2725 Division St, Spokane, WA 99207
      View Details
    • Value Estimation by Request
      1,200 SF

      2914 Market St

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      2914 Market St, Spokane, WA 99207-5554
      View Details
    • Value Estimation
      $3,045,000
      18,257 SF

      2020 Division St

      RETAIL STORES (PERSONAL SERVICES) • 18,257 SF
      2020 Division St, Spokane, WA 99207-2254
      View Details
    • Value Estimation by Request
      1,723 SF

      206 Wellesley Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,723 SF
      206 Wellesley Ave, Spokane, WA 99207-1414
      View Details

    Similar Nearby for Sale

    • $950,000

      Spokane Retail Property with Warehouse

      Freestanding retail property with warehouse space in Spokane, Washington.
      2015 N Division St, Spokane, WA 99207
      View Details
    • Contact for pricing

      New Construction Valvoline For Sale

      New construction Valvoline in rapidly growing Spokane, Washington.
      1830 N Division St, Spokane, WA 99207
      View Details
    • $425,000

      Functional Industrial Warehouse For Sale

      Efficient industrial warehouse with vehicle lifts and updated roof.
      5202 N Nevada St, Spokane, WA 99207
      View Details
    • $8,500,000

      Established Restaurant Portfolio For Sale

      Three established restaurants in high-demand market.
      Thai Bamboo Portfolio, Spokane, WA 99207
      View Details
    • $8,500,000
      24,158 SF

      Restaurant Portfolio For Sale

      Three restaurants for sale, including real estate and business.
      5406 N Division St, Spokane, WA 99207
      View Details
    • $699,900
      5,472 SF

      Spokane Office Building with Potential

      Centrally located office building with conversion potential in Spokane, WA.
      1915 N Division St, Spokane, WA 99207
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,007 SF

      Northtown Mall Retail Space

      Retail spaces available for lease in Northtown Mall.
      4730-4750 N Division St, Spokane, WA 99207
      View Details
    • Contact for pricing

      Retail Space on Division Street

      Retail space with on-site parking and pylon signage.
      3609 N Division St, Spokane, WA 99207
      View Details
    • Contact for pricing
      1,750 SF

      Retail Space in Garland District

      Retail space featuring a full kitchen and bathroom in unit.
      914-924 W Garland Ave, Spokane, WA 99207
      View Details
    • $2,475 /Mo
      2,000 SF

      Remodeled Retail Space Available

      2,000 SF retail space with parking and high traffic.
      923 East Hoffman Ave, Spokane, WA 99207
      View Details
    • $20 SF/Yr
      1,512 SF

      Retail Space on Division Street

      Prime retail location with high visibility and convenient access.
      4401-4407 N Division St, Spokane, WA 99207
      View Details
    • Contact for pricing
      4,221 SF

      Retail Space For Rent

      Retail space available for lease in Spokane, Washington.
      3609-3611 N Division St, Spokane, WA 99207
      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.
    2424 Division St
    Spokane, WA 99207-2124
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!