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Property profile & analytics
FOR LEASE
Office buildings
309 E Farwell Rd Spokane, WA 99218
Entity Owned
Absentee Owner
Free & Clear
Property ID
US90-1503747
For Lease
$28.50 SF/Yr
309 E Farwell Rd, Spokane, WA 99218
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Property summary
AI-generated overview
The Wandermere Professional Building offers exceptional office space for lease in a Class B building constructed in 2007. This three-story building boasts a total of 54,000 square feet, with multiple tenancy options available. Currently, there are 10,129 square feet of vacant space ready for immediate occupancy. The building caters to diverse business needs, offering executive, traditional, and creative office layouts. Spaces range from a minimum of 2,684 square feet to a maximum contiguous space of 3,815 square feet, providing flexibility for businesses of varying sizes. The building's modern design and convenient location make it an ideal choice for companies seeking a professional and efficient workspace. Interested parties are encouraged to inquire about available floor plans and lease terms. The building's versatile layout allows for customization to suit specific business requirements, ensuring a comfortable and productive work environment. This prime location offers easy access to essential amenities and transportation links, enhancing the overall appeal for prospective tenants. Contact us today to schedule a viewing and explore the possibilities of establishing your business in this thriving professional environment.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Total area
14,593 SF
Lot
2.32 ac (100,882 SF)
APN
36053.9079
UPID
US90-1503747
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
-
Elite Physical & Sports Therapy Physician
-
Brett Gourley, MD Physician
-
Neil Golan, MD Pediatrician Physician
-
Cariboo Wealth Advisors - Ameriprise Financial Services, LLC Financial Advisor
-
Jeffrey R, O'Connor, MD Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.43M
Comparable Approach
Comparable
$2.51M
Blend (final)
Blend
$3.03M
Owner & transaction history
WANDERMERE ESTATES LLC
WANDERMERE ESTATES LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
CAP Approach
CAP Return
Estimation
6%
$3,715,000
6.5%
$3,430,000
7%
$3,185,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,650,000
Current use
MEDICAL BUILDING
$3,470,000
Change: -5% · Conversion: Easy
RETAIL STORES
$3,360,000
Change: -8% · Conversion: Moderate
RESTAURANT
$3,235,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$3.03M
Range $2.72M – $3.33M · ±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
$207 / 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
$52,630
Tax year 2023
Assessed value
$5,669,470
Assessed 2024
Previous assessed
$4,675,280
+21.3% YoY
Effective rate
0.93%
On assessed value
Assessed land
$1,311,470
Assessed improvement
$4,358,000
Land market value
$1,311,470
Improvement market value
$4,358,000
Total market value
$5,669,470
Applied tax rate
1,280.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2007
Heating
NONE
Stories
3
Total area
14,593 SF
Lot
2.32 ac (100,882 SF)
APN
36053.9079
UPID
US90-1503747
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
OFFICE BUILDING Current
Est. value
$3.7M
MEDICAL BUILDING
Est. value
$3.5M
RETAIL STORES
Est. value
$3.4M
RESTAURANT
Est. value
$3.2M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
RESTAURANT
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
2007
Heating
NONE
Stories
3
Lot
2.32 ac
Current owner
From public records · entity-resolved
WANDERMERE ESTATES LLC
Entity
Free & Clear · 0 yrs held
Mailing address
12906 N ADDISON ST, SPOKANE, WA 99218-8204
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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