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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Hotels
2834 Sunset Blvd, Spokane, WA 99224-1110
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-1299979
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1948
Total area
5,333 SF
Lot
0.69 ac (29,994 SF)
APN
25243.1103
UPID
US90-1299979
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
$525k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$525k
Owner & transaction history
Dignity Housing II LLC · 4 yrs held
Dignity Housing II LLC
since 2021
Last sale
$440,200
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$700,000
+54.0%
Commercial (general)
$645,000
+41.7%
Auto repair, garage
$640,000
+40.5%
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
$625,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
$570,000
6.5%
$525,000
7%
$490,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$455,000
Current use
RESTAURANT
$700,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$645,000
Change: +42% · Conversion: Difficult
AUTO REPAIR, GARAGE
$640,000
Change: +40% · Conversion: Difficult
OFFICE BUILDING
$550,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$485,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $440k (Dec 27 2021)
Last sale anchor
$440k
Dec 27 2021
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
$98 / 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
$3,868
Tax year 2023
Assessed value
$395,460
Assessed 2024
Previous assessed
$305,060
+29.6% YoY
Effective rate
0.98%
On assessed value
Assessed land
$194,960
Assessed improvement
$200,500
Land market value
$194,960
Improvement market value
$200,500
Total market value
$395,460
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1948
Heating
NONE
Stories
2
Bathrooms
15
Total area
5,333 SF
Lot
0.69 ac (29,994 SF)
APN
25243.1103
UPID
US90-1299979
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
HOTEL/MOTEL Current
Est. value
$455,000
RESTAURANT
Est. value
$700,000
COMMERCIAL (GENERAL)
Est. value
$645,000
AUTO REPAIR, GARAGE
Est. value
$640,000
OFFICE BUILDING
Est. value
$550,000
MEDICAL BUILDING
Est. value
$485,000
HOTEL/MOTEL Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
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
1948
Heating
NONE
Stories
2
Bathrooms
15
Lot
0.69 ac
Current owner
From public records · entity-resolved
Dignity Housing II LLC
Entity
Free & Clear · 4 yrs held
Mailing address
12 E 5TH AVE, SPOKANE, WA 99202-1309
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2021
$437,001
Dignity Housing II LLC
Annette R Rapp
Warranty Deed
—
Jan 18, 2018
$4,544
City Of Spokane
Rapp,annette R
Warranty Deed
—
Nov 28, 2017
$119,113
Ronald G Spencer
Meloy,jean E
Warranty Deed
—
Nov 28, 2017
$142,573
Annette R Rapp
Spencer,louise D
Warranty Deed
—
Nov 28, 2017
—
Howard D Thompson
Skyline Investment Co
Quit Claim Deed
related
—
Nov 28, 2017
$95,433
Jean Meloy
Thompson,howard D & Rae M
Grant Deed
—
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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