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    Property profile & analytics

    3118 55th Ave Spokane, WA 99223

    • Warehouses
    • 2,250 SF
    • 3.11 lot acres
    OFF-MARKET
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    2.9%
    Warehouses
    Location Intelligence
    Property ID
    US90-0808287
    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

    • Warehouses

    Property Details for 3118 55th Ave

    Year built
    1996
    Lot size
    3.11 lot acres
    Property size
    2,250 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    34032.0453
    APU
    340320453

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $700,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.365
    Latitude
    47.6031
    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
    $41,336
    $1,085,470
    $2,812,600
    $3,898,070
    -
    $1,085,470
    $2,812,600
    $3,898,070

    Comparable in this City

    • Value Estimation
      $880,000
      7,523 SF

      3715 55th Ave

      MINI-WAREHOUSE, STORAGE • 7,523 SF
      3715 55th Ave, Spokane, WA 99223-8005
      View Details
    • Value Estimation
      $545,000
      13,600 SF

      3126 55th Ave

      MINI-WAREHOUSE, STORAGE • 13,600 SF
      3126 55th Ave, Spokane, WA 99223-7098
      View Details
    • Value Estimation
      $415,000
      2,185 SF

      5911 Ben Burr Rd

      MINI-WAREHOUSE, STORAGE • 2,185 SF
      5911 Ben Burr Rd, Spokane, WA 99223
      View Details
    • Value Estimation
      $590,000
      8,450 SF

      6010 Ben Burr Rd

      MINI-WAREHOUSE, STORAGE • 8,450 SF
      6010 Ben Burr Rd, Spokane, WA 99223-1708
      View Details
    • Value Estimation
      $310,000
      360 SF

      8520 Krell Ln

      WAREHOUSE, STORAGE • 360 SF
      8520 Krell Ln, Spokane, WA 99223-1814
      View Details
    • Value Estimation
      $475,000
      126 SF

      4416 Regal St

      WAREHOUSE, STORAGE • 126 SF
      4416 Regal St, Spokane, WA 99223-7935
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      South Hill Spokane Land Opportunity

      Prime 3-acre parcel, ideal development.
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      35,040 SF

      Regal Street Medical Office Building

      Spokane medical office, 35,040 sq ft, vacant.
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      Spokane Drive-Thru Restaurant Sale

      High-Profit Drive-Thru, Excellent ROI
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    • $1,775,000
      8,500 SF

      Spokane Church and Religious Facility

      8,500 SF church and religious facility in Spokane, WA.
      3525 E 57Th Ave, Spokane, WA 99223
      View Details
    • $395,000

      Spokane Office Space For Sale

      Office property available for purchase in Spokane, Washington.
      2817 S Ray St, Spokane, WA 99223
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    • $235,000
      26,920 SF

      South Hill R1 Lots

      R1 lots suitable for multiple housing options.
      4100 18Th Ave, Spokane, WA 99223
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    Similar Nearby for Lease

    • Contact for pricing
      87,279 SF

      West Plains Logistics Industrial Space

      Class A industrial buildings for lease in Spokane, Washington.
      10115 West Hallett Rd, Spokane, WA 99223
      View Details
    • $1.20 SF/Yr
      4,204 SF

      New Flex/Warehouse Building For Rent

      New flex/warehouse building under construction, completion estimated for December 2025.
      6402 N Helena St, Spokane, WA 99223
      View Details
    • $24 SF/Yr
      16,772 SF

      South Hill Retail Center Opportunity

      Freestanding Retail, High Traffic Area
      4320 Regal St, Spokane, WA 99223
      View Details
    • Contact for pricing
      3 SF

      South Hill Commercial Land Available

      3.18 acres of commercial land for lease on South Hill.
      57th Ave & Palouse Hwy, Spokane, WA 99223
      View Details
    • Contact for pricing
      89,039 SF

      Retail Spaces on Regal Street

      Retail spaces available with high traffic exposure on Regal.
      4508-4600 S Regal St, Spokane, WA 99223
      View Details
    • $950 /Mo
      4,142 SF

      South Hill Office Space Available

      Office space for rent in excellent South Hill location.
      3001 S Mount Vernon St, Spokane, WA 99223
      View Details
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    3118 55th Ave
    Spokane, WA 99223
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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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