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

    2824 Everett Ave Spokane, WA 99217-5095

    • Apartment buildings
    • 2,000 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Jun 28, 2024
    $1,100,000
    Value Estimations
    $1,100,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3309496
    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

    • Apartment buildings

    Property Details for 2824 Everett Ave

    Year built
    1972
    Lot size
    0.21 lot acres
    Property size
    2,000 SF
    Property type
    Apartment buildings
    APN
    36334.0926
    APU
    363340926

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,100,000
      ML approach
      $1,100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,115,000
      Market price range: $455k - $2.09M

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.368
    Latitude
    47.7057
    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
    $7,341
    $54,250
    $697,450
    $751,700
    -
    $54,250
    $697,450
    $751,700

    Comparable in this City

    • Value Estimation by Request
      1,156 SF

      3609 Olympic Ave

      APARTMENT HOUSE (5+ UNITS) • 1,156 SF
      3609 Olympic Ave, Spokane, WA 99217-6647
      View Details
    • Value Estimation
      $1,055,000
      546 SF

      2003 Lyons Ave

      APARTMENT HOUSE (5+ UNITS) • 546 SF
      2003 Lyons Ave, Spokane, WA 99217-7517
      View Details
    • Value Estimation
      $1,055,000
      546 SF

      1911 Lyons Ave

      APARTMENT HOUSE (5+ UNITS) • 546 SF
      1911 Lyons Ave, Spokane, WA 99217-7525
      View Details
    • Value Estimation by Request
      17.84 Acres

      Bigelow Gulch Rd

      Multifamily properties • 17.84 Acres
      0 Bigelow Gulch Rd, Spokane, WA 99217
      View Details
    • Value Estimation
      $1,510,000
      7,364 SF

      5008 Buckeye Ave

      APARTMENT HOUSE (5+ UNITS) • 7,364 SF
      5008 Buckeye Ave, Spokane, WA 99217-7409
      View Details
    • Value Estimation
      $1,275,000
      5,790 SF

      4707 Upriver Dr

      HIGH-RISE APARTMENTS • 5,790 SF
      4707 Upriver Dr, Spokane, WA 99217-7365
      View Details

    Similar Nearby for Sale

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      17.84 Acres

      Spokane Multifamily Development Opportunity

      17.84-acre prime land, 220 units allowed.
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    • New
      $319,900
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      Updated Bungalow with Storage

      Well-cared for 1910 bungalow with updated features and ample storage.
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      Spokane Land with Views

      25.04 acres with views, privacy, and trees near amenities.
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    • $399,000
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      Land with Mountain Views

      10 acre land parcel with mountain views in Mead, WA.
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    • $50,000
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      Spokane Light Industrial Lot

      0.08-acre light industrial lot near North-South Freeway in Spokane.
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    • $359,900
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      5.7 acres of land near Argonne and Bigelow in Spokane.
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      View Details

    Similar Nearby for Lease

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      20,255 SF

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    • Contact for pricing
      2,400 SF

      Spokane Flex/Industrial Space Available

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      47,468 SF

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      Corner Lot in Opportunity Zone

      0.92 acre corner lot in a Qualified Opportunity Zone.
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    • $3,605 /Mo
      3,605 SF

      Spokane Flex Space For Rent

      3,605 SF flex space available for rent in Spokane.
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    • Contact for pricing

      Freya Street Industrial Land

      1.66 acre industrial land for lease in Spokane, WA.
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      View Details
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    2824 Everett Ave
    Spokane, WA 99217-5095
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    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
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