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Property profile & analytics
OFF-MARKET
Estimated value
$4,540,000
Office buildings
25 Main Ave Spokane, WA 99201-5090
Individually Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0046993
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1907
Total area
25,904 SF
Lot
0.33 ac (14,200 SF)
APN
35184.1016
UPID
US90-0046993
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
Current use
Occupant on record · Public records
-
Crystl Murray-Mills, MSW, LICSW Counselor
-
Magic Lantern Theatre Cinema Theater & Performing Art Venue
-
Columbia Institute For Water Charitable Organization Social Service Agency
-
Niche Coworking Coworking & Hybrid Office
-
Spokane NAACP Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.09M
Comparable Approach
Comparable
$4.59M
Blend (final)
Blend
$4.54M
Owner & transaction history
James L Sheehan · 21 yrs held
James L Sheehan
since 2004
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 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%
$6,595,000
6.5%
$6,085,000
7%
$5,650,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,410,000
Current use
MEDICAL BUILDING
$6,160,000
Change: -4% · Conversion: Easy
RESTAURANT
$5,740,000
Change: -10% · Conversion: Moderate
RETAIL STORES
$5,595,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$4.54M
Range $4.09M – $4.99M · ±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
$175 / 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
$28,899
Tax year 2023
Assessed value
$2,962,600
Assessed 2024
Previous assessed
$2,855,300
+3.8% YoY
Effective rate
0.98%
On assessed value
Assessed land
$624,800
Assessed improvement
$2,337,800
Land market value
$624,800
Improvement market value
$2,337,800
Total market value
$2,962,600
Applied tax rate
14.0000
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
Off-Market
Year built
1907
Heating
NONE
Buildings
2
Stories
1
Total area
25,904 SF
Lot
0.33 ac (14,200 SF)
APN
35184.1016
UPID
US90-0046993
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
$6.4M
MEDICAL BUILDING
Est. value
$6.2M
RESTAURANT
Est. value
$5.7M
RETAIL STORES
Est. value
$5.6M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
RETAIL STORES
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
1907
Heating
NONE
Stories
1
Buildings
2
Lot
0.33 ac
Current owner
From public records · entity-resolved
James L Sheehan
Individual
Free & Clear · 21 yrs held
Mailing address
35 W MAIN AVE STE 130M, SPOKANE, WA 99201-0110
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2004
$770,000
James L Sheehan
Harwood,joseph D & Kristi A
Warranty Deed
—
Nov 8, 2001
$560,000
Joseph D Harwood
Hiklan,david G
Grant Deed
—
Jul 12, 2000
—
David G Hiklan
Opportunity Management Co INC
Grant Deed
related
—
Apr 5, 1999
—
Riverside Development Co
Hayashi,calvin K
Grant Deed
related
—
Dec 21, 1998
—
Opportunity Management Co INC
Hiklan,david G
Trustees Deed
related
—
—
—
David G Hiklan
—
Deed Of Trust
related
$120,000 · Opportunity Management Co INC
—
—
David G Hildan
—
Deed Of Trust
related
$80,000 · Cls Mortgage INC
—
—
David G Hiklan
—
Deed Of Trust
related
$100,000 · Cls Mortgage INC
—
—
Leora L Chilberg
—
Deed Of Trust
related
$30,000 · Individual
—
—
Joseph D Howard
—
Deed Of Trust
related
$531,378 · Bank Of Fairfield
—
—
David G Hiklan
—
Deed Of Trust
related
$325,000 · Preferred Funding
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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