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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Community centers
2915 29th Ave Spokane, WA 99223-4870
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US90-0266509
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2012
Total area
7,952 SF
Lot
0.4 ac (17,550 SF)
APN
35273.0025
UPID
US90-0266509
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
-
Chef Lu's Asian Bistro Restaurant
-
The Urban Canine (Bike/Boat/Book/etc) Store Pet Store
-
Spokane Commercial and Home Window Tinting Interior Design Auto Repair Shop
-
Wells Fargo Bank Bank Loan Service
-
Wells Fargo Advisors Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$565k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$487k
Blend (final)
Blend
$525k
Owner & transaction history
Lincoln Heights Center LLC · 14 yrs held
Lincoln Heights Center LLC
since 2012
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$720,000
+135.3%
Office building
$665,000
+117.5%
Warehouse, storage
$620,000
+101.7%
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
$565,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$720,000
Change: +135% · Conversion: Difficult
OFFICE BUILDING
$665,000
Change: +117% · Conversion: Moderate
WAREHOUSE, STORAGE
$620,000
Change: +102% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$66 / 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
$25,582
Tax year 2023
Assessed value
$2,622,400
Assessed 2024
Previous assessed
$2,060,300
+27.3% YoY
Effective rate
0.98%
On assessed value
Assessed land
$315,900
Assessed improvement
$2,306,500
Land market value
$315,900
Improvement market value
$2,306,500
Total market value
$2,622,400
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
2012
Heating
NONE
Stories
1
Total area
7,952 SF
Lot
0.4 ac (17,550 SF)
APN
35273.0025
UPID
US90-0266509
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
MEDICAL BUILDING
Est. value
$720,000
OFFICE BUILDING
Est. value
$665,000
WAREHOUSE, STORAGE
Est. value
$620,000
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
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
2012
Heating
NONE
Stories
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Lincoln Heights Center LLC
Entity
Mailing address
12906 N ADDISON ST, SPOKANE, WA 99218-8204
Ownership since
2012
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
May 24, 2012
—
Lincoln Heights Center LLC
—
Deed Of Trust
related
$2,006,250 · Washington Trust Bank
Apr 23, 2012
$1,548,000
Lincoln Heights Center LLC
Cho,chin H & Me Y
Warranty Deed
$2,006,250 · Washington Trust Bank
Sep 6, 2005
—
Chan Family Trust
Chan,tat Y
Quit Claim Deed
related
—
Mar 5, 1999
$258,734
Chin H Cho
Madison,george H
Grant Deed
$265,000 · Us Bank NA Nd
—
—
Lincoln Heights Center LLC
—
Deed Of Trust
related
$2,100,000 · Numerica Cu
—
—
Chin H Cho
—
Deed Of Trust
related
$200,000 · Us Bank
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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