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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Medical Office Space
2532 Francis Ave Spokane, WA 99205-7012
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-1061486
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1963
Construction
CONCRETE
Total area
3,914 SF
Lot
0.72 ac (31,459 SF)
APN
26253.0006
UPID
US90-1061486
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
-
Indian Trail Physical Therapy Medical Clinic
-
Jason Reeder Physician
-
Dr. Kevin Truong Dental Office
-
Mr. Ryan Stern Physician
-
Evan Ewing Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$395k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$696k
Blend (final)
Blend
$535k
Owner & transaction history
Double Black Investments LLC · 7 yrs held
Double Black Investments LLC
since 2018
5 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
$395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$860,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$775,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$137 / 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
$6,165
Tax year 2023
Assessed value
$631,010
Assessed 2024
Previous assessed
$563,050
+12.1% YoY
Effective rate
0.98%
On assessed value
Assessed land
$220,210
Assessed improvement
$410,800
Land market value
$220,210
Improvement market value
$410,800
Total market value
$631,010
Applied tax rate
10.0000
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
1963
Construction
CONCRETE
Heating
NONE
Stories
1
Units
1
Bathrooms
1
Total area
3,914 SF
Lot
0.72 ac (31,459 SF)
APN
26253.0006
UPID
US90-1061486
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
Est. value
$860,000
AUTO REPAIR, GARAGE
Est. value
$775,000
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1963
Construction
CONCRETE
Heating
NONE
Stories
1
Units
1
Bathrooms
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
Double Black Investments LLC
Entity
Mailing address
2532 W FRANCIS AVE, SPOKANE, WA 99205-7012
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2018
$565,000
Double Black Investments LLC
William M Petersen
Warranty Deed
$632,000 · Mountain West Bank
Aug 22, 2011
—
Petersen Living Trust
Peterson,william M & Carol J
Quit Claim Deed
related
—
—
—
Petersen Living Trust
—
Deed Of Trust
related
$250,000 · Columbia State Bank
—
—
William M Petersen
—
Deed Of Trust
related
$103,825 · Bank Of Fairfield
—
—
William M Petersen
—
Deed Of Trust
related
$40,000 · Bank Of Fairfield
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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