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

    2921 Nevada St Spokane, WA 99207

    • Retail space
    • 2,362 SF
    • 0.37 lot acres
    OFF-MARKET
    Value Estimations
    $390,000
    Show details
    Cap Rate Potential
    7.8%
    Retail space
    Location Intelligence
    Property ID
    US90-0247544
    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

    • Retail space

    Property Details for 2921 Nevada St

    Year built
    1961
    Construction
    STEEL FRAME
    Lot size
    0.37 lot acres
    Property size
    2,362 SF
    Property type
    Retail space
    APN
    35081.1206
    APU
    350811206

    Description

    This exceptional office suite, located at 2925 N Nevada Street, Suite B, Spokane, WA 99207, offers 1,112 square feet of versatile space ideal for a variety of businesses. The property is classified as a traditional office space within a multi-tenant building. This single available suite presents a fantastic opportunity for businesses seeking a well-located and functional workspace in Spokane. The address is conveniently situated at 2921 N Nevada St, offering easy access to local amenities and transportation routes. Detailed floor plans and further information are available upon request. The suite is ready for immediate occupancy, providing a seamless transition for your business operations. This is a prime opportunity to establish your presence in a thriving Spokane commercial district. The property is situated at latitude 47.685351 and longitude -117.395627. Interested parties should inquire promptly to secure this desirable office space. The property type is listed as an office, and the tenancy is multiple. This listing is for a single available suite within a larger building. Contact us today to schedule a viewing and learn more about this exciting opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $410,000
      6.5%
      $375,000
      7%
      $350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $502,000
      Market price range: $253k - $991k
      AI Estimate
      $250,000
      Market price range: $127k - $507k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $465,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.396
    Latitude
    47.6854
    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
    $2,627
    $137,330
    $130,900
    $268,230
    -
    $137,330
    $130,900
    $268,230

    Comparable in this City

    • Value Estimation
      $295,000
      0.13 Acres

      128 Wellesley Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.13 Acres
      128 Wellesley Ave, Spokane, WA 99207-1413
      View Details
    • Value Estimation
      $410,000
      14,283 SF

      2001 Ruby St

      RETAIL STORES (PERSONAL SERVICES) • 14,283 SF
      2001 Ruby St, Spokane, WA 99207-2264
      View Details
    • Value Estimation
      $265,000
      1,350 SF

      3301 Nevada St

      RETAIL STORES (PERSONAL SERVICES) • 1,350 SF
      3301 Nevada St, Spokane, WA 99207-2943
      View Details
    • Value Estimation
      $790,000
      15,048 SF

      2105 Wellesley Ave

      RETAIL STORES (PERSONAL SERVICES) • 15,048 SF
      2105 Wellesley Ave, Spokane, WA 99207-4271
      View Details
    • Value Estimation
      $465,000
      7,615 SF

      4423 Division St

      RETAIL STORES (PERSONAL SERVICES) • 7,615 SF
      4423 Division St, Spokane, WA 99207-1662
      View Details
    • Value Estimation
      $435,000
      6,017 SF

      5027 Division St

      RETAIL STORES (PERSONAL SERVICES) • 6,017 SF
      5027 Division St, Spokane, WA 99207-1409
      View Details

    Similar Nearby for Sale

    • $950,000
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      Spokane Retail Property with Warehouse

      Freestanding retail property with warehouse space in Spokane, Washington.
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      View Details
    • $310,000

      High-Visibility Retail Space for Sale

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    • $620,000
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      Versatile Commercial Property For Sale

      2,580 SF commercial property suitable for retail or office.
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    • $340,000
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      Updated Commercial Property with GC-70 Zoning

      Updated property with GC-70 zoning, suitable for various uses.
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      New Construction Valvoline For Sale

      New construction Valvoline in rapidly growing Spokane, Washington.
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    • $5,950,000
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      Modern Multifamily Investment Opportunity

      Turnkey multifamily property with strong income and modern construction.
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    Similar Nearby for Lease

    • $2,475 /Mo
      2,000 SF

      Remodeled Retail Space Available

      2,000 SF retail space with parking and high traffic.
      923 East Hoffman Ave, Spokane, WA 99207
      View Details
    • Contact for pricing
      9,190 SF

      Retail Space on Division Street

      Retail space with on-site parking and pylon signage.
      3609 N Division St, Spokane, WA 99207
      View Details
    • Contact for pricing
      10,962 SF

      Spokane Commercial Land For Lease

      Prime Spokane location, 10,962 sq ft lot.
      3300 Division St, Spokane, WA 99207
      View Details
    • Contact for pricing
      2,648 SF

      Northtown Mall Retail Space

      Retail spaces available for lease in Northtown Mall.
      4730-4750 N Division St, Spokane, WA 99207
      View Details
    • Contact for pricing
      927,729 SF

      North Town Mall: Spokane Retail Space

      Prime Spokane retail space, multiple units available.
      4750 Division St, Spokane, WA 99207
      View Details
    • $6 SF/Yr
      1,750 SF

      Retail Space in Garland District

      Retail space featuring a full kitchen and bathroom in unit.
      914-924 W Garland Ave, Spokane, WA 99207
      View Details
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    2921 Nevada St
    Spokane, WA 99207
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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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