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

    2911 Boone Ave Spokane, WA 99202-3603

    • Flex space
    • 4,000 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1593025
    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

    • Good Buddies Cabinets / General Contractor / Renovation Specialist

    Property Details for 2911 Boone Ave

    Year built
    1979
    Lot size
    0.29 lot acres
    Property size
    4,000 SF
    Property type
    Flex space
    APN
    35152.1406
    APU
    351521406

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.368
    Latitude
    47.6694
    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
    $2,978
    $62,500
    $241,700
    $304,200
    -
    $62,500
    $241,700
    $304,200

    Comparable in this City

    • Value Estimation by Request
      3,938 SF

      1723 Riverside Ave

      LIGHT INDUSTRIAL • 3,938 SF
      1723 Riverside Ave, Spokane, WA 99202-3046
      View Details
    • Value Estimation by Request
      3,552 SF

      707 Napa St

      LIGHT INDUSTRIAL • 3,552 SF
      707 Napa St, Spokane, WA 99202-2866
      View Details
    • Value Estimation by Request
      988 SF

      727 Crestline St

      LIGHT INDUSTRIAL • 988 SF
      727 Crestline St, Spokane, WA 99202-2820
      View Details
    • Value Estimation by Request
      4,767 SF

      1337 Grand Blvd

      LIGHT INDUSTRIAL • 4,767 SF
      1337 Grand Blvd, Spokane, WA 99202-1136
      View Details
    • Value Estimation
      $2,860,000
      43,875 SF

      4101 Broadway Ave

      LIGHT INDUSTRIAL • 43,875 SF
      4101 Broadway Ave, Spokane, WA 99202-4502
      View Details
    • Value Estimation by Request
      5,376 SF

      1519 Trent Ave

      LIGHT INDUSTRIAL • 5,376 SF
      1519 Trent Ave, Spokane, WA 99202-2938
      View Details

    Similar Nearby for Sale

    • $5,850,000
      46,067 SF

      Spokane Industrial Portfolio

      Flex & Warehouse Investment Opportunity
      125 Arthur St, Spokane, WA 99202
      View Details
    • $995,000
      7,199 SF

      Spokane Flex Space: $995,000

      Prime Spokane industrial flex space. Recently renovated.
      4230 Mission Ave, Spokane, WA 99202
      View Details
    • $1,490,000
      14,896 SF

      Versatile Spokane Commercial Warehouse Space

      15,000 sq ft warehouse with office space in Spokane.
      3303 E Ferry Ave, Spokane, WA 99202
      View Details
    • Contact for pricing

      Leased Industrial Building For Sale

      Fully leased industrial building in Spokane's central industrial district.
      3818-3820 E Main Ave, Spokane, WA 99202
      View Details
    • $1,850,000

      Industrial Building in Spokane

      Fully leased industrial building in Spokane's central industrial district.
      3820 E Main Ave, Spokane, WA 99202
      View Details
    • $1,295,000
      8,471 SF

      Spokane Warehouse Investment Opportunity

      8,471 SF Warehouse, Vacant, $1.3M
      806 2Nd Ave, Spokane, WA 99202
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      8,784 SF

      Spokane Flex Warehouse Opportunity

      Functional flex warehouse with ample outdoor storage in Spokane.
      320 N Lee St, Spokane, WA 99202
      View Details
    • $2,500 /Mo
      3,029 SF

      Industrial Space with Fenced Yard

      3,029 SF industrial space with warehouse, office, and yard.
      2202 E Broadway Ave, Spokane, WA 99202
      View Details
    • Contact for pricing
      5,900 SF

      Mixed-Use Building Available for Sublease

      Mixed-use building featuring office, restrooms, and drive-in doors.
      1517 E Sprague Ave, Spokane, WA 99202
      View Details
    • $10 SF/Yr
      13,365 SF

      Office/Warehouse Space Available

      Office and warehouse space with secured parking.
      112 N Altamont St, Spokane, WA 99202
      View Details
    • $1.25 SF/Yr
      7,500 SF

      New Construction Industrial Units Available

      New industrial units with mezzanine, ready March 2026.
      921 N Fiske St, Spokane, WA 99202
      View Details
    • $8,499 /Mo

      Spokane Flex Space For Rent

      11,648 SF flex space available for rent in Spokane.
      308-318 S Grant St, Spokane, WA 99202
      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.
    2911 Boone Ave
    Spokane, WA 99202-3603
    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!