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    Property profile & analytics

    311 Riverpoint Blvd Spokane, WA 99202-1675

    • Hotels
    • 10,624 SF
    • 1.60 lot acres
    OFF-MARKET
    Value Estimations
    $740,000
    Show details
    Cap Rate Potential
    9.5%
    Hotels
    Location Intelligence
    Property ID
    US90-1568693
    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

    • Fairfield Inn & Suites Spokane Downtown / Hotel / Meeting Planning Service

    Property Details for 311 Riverpoint Blvd

    Year built
    1994
    Construction
    STEEL FRAME
    Lot size
    1.60 lot acres
    Property size
    10,624 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    35173.1605
    APU
    351731605

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $720,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,135,000
      6.5%
      $1,050,000
      7%
      $975,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.41
    Latitude
    47.6608
    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
    $60,046
    $1,917,400
    $4,239,600
    $6,157,000
    -
    $1,917,400
    $4,239,600
    $6,157,000

    Comparable in this City

    • Value Estimation
      $325,000
      3,100 SF

      1311 Sprague Ave

      HOTEL/MOTEL • 3,100 SF
      1311 Sprague Ave, Spokane, WA 99202
      View Details
    • Value Estimation
      $795,000
      3,760 SF

      1417 Division St

      HOTEL/MOTEL • 3,760 SF
      1417 Division St, Spokane, WA 99202
      View Details
    • Value Estimation
      $1,205,000
      35,000 SF

      211 Division St

      HOTEL/MOTEL • 35,000 SF
      211 Division St, Spokane, WA 99202-1424
      View Details
    • Value Estimation
      $1,380,000
      56,000 SF

      923 3rd Ave

      HOTEL/MOTEL • 56,000 SF
      923 3rd Ave, Spokane, WA 99202-2215
      View Details
    • Value Estimation
      $900,000
      55,855 SF

      104 4th Ave

      HOTEL/MOTEL • 55,855 SF
      104 4th Ave, Spokane, WA 99202
      View Details
    • Value Estimation
      $700,000
      14,417 SF

      801 Division St

      HOTEL/MOTEL • 14,417 SF
      801 Division St, Spokane, WA 99202-1614
      View Details

    Similar Nearby for Sale

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      Prime Spokane Industrial Land

      Fenced, ±39,600 SF, Light Industrial
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    • $750,000

      Leased Investment Property For Sale

      Fully leased property with retail, apartments, and storage units.
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    • $2,300,000
      22,400 SF

      Remodeled Mixed-Use Building in Spokane

      Remodeled mixed-use building with retail, office, and apartment spaces.
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      View Details
    • $249,000
      1,504 SF

      Spokane Commercial Building with Kitchen

      Two-story commercial building with USDA-approved kitchen and recent upgrades.
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      Downtown Spokane Mixed-Use Building

      Mixed-use property in the heart of downtown Spokane.
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    • New
      $1,490,000
      14,896 SF

      Versatile Spokane Commercial Warehouse Space

      15,000 sq ft warehouse with office space in Spokane.
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      View Details

    Similar Nearby for Lease

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      44,200 SF

      Freya Street Warehouse Opportunity

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    • Contact for pricing
      8,880 SF

      Retail Space on Division Street

      Retail space available in a prime location with parking.
      1403 N Division St, Spokane, WA 99202
      View Details
    • $0.40 SF/Yr
      12,000 SF

      Airway Heights Warehouse Space Available

      12,000 SF warehouse space for lease in Airway Heights.
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      Spokane Flex Warehouse Opportunity

      Functional flex warehouse with ample outdoor storage in Spokane.
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    • $10 SF/Yr
      4,080 SF

      East Central Office Space Available

      Office space for rent in a vibrant, accessible location.
      4226 E Mission Ave, Spokane, WA 99202
      View Details
    • $12 SF/Yr
      11,137 SF

      Former Midas Muffler Shop

      Automotive shop with yard area and great visibility.
      230 N Division St, Spokane, WA 99202
      View Details
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    311 Riverpoint Blvd
    Spokane, WA 99202-1675
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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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