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    323 W Indiana Ave Spokane, WA 99205
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    323 W Indiana Ave Spokane, WA 99205

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    • Grocery and convenience stores
    • 5,200 SF
    • 0.42 lot acres
    For Lease
    $1,600 /Mo
    View Listing →
    323 W Indiana Avenue, Spokane, WA 99205 For Lease
    $1,600 /Mo

    323 W Indiana Avenue, Spokane, WA 99205

    1,200 SF retail space available on corner lot.

    323 W Indiana Ave, Spokane, WA 99205
    View Listing
    Property ID
    US90-1039873
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Citibank ATM / Atm
    • Indiana Market / Grocery & Convenience Store

    Property Details for 323 W Indiana Ave

    Year built
    1976
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.42 lot acres
    Property size
    5,200 SF
    Property type
    Grocery and convenience stores
    APN
    35074.5807
    APU
    350745807

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,050,000
      6.5%
      $970,000
      7%
      $900,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $553,000
      Market price range: $554k - $1.19M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,220,000
      COMMERCIAL (GENERAL)
      $1,120,000
      OFFICE BUILDING
      $825,000
      RESTAURANT
      $820,000
      AUTO REPAIR, GARAGE
      $685,000
      RETAIL STORES
      $595,000
      MEDICAL BUILDING
      $495,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.417
    Latitude
    47.6746
    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
    $5,678
    $129,570
    $451,500
    $581,070
    -
    $129,570
    $451,500
    $581,070

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      3012 Monroe St

      GROCERY, SUPERMARKET • 0.13 Acres
      3012 Monroe St, Spokane, WA 99205-3361
      View Details
    • Value Estimation by Request
      128 SF

      4605 Assembly St

      GROCERY, SUPERMARKET • 128 SF
      4605 Assembly St, Spokane, WA 99205-1903
      View Details
    • Value Estimation by Request
      1,215 SF

      2202 Monroe St

      CONVENIENCE STORE • 1,215 SF
      2202 Monroe St, Spokane, WA 99205-4545
      View Details
    • Value Estimation
      $620,000
      4,107 SF

      3004 Monroe St

      CONVENIENCE STORE • 4,107 SF
      3004 Monroe St, Spokane, WA 99205-3361
      View Details
    • Value Estimation
      $4,715,000
      49,871 SF

      1724 Francis Ave

      GROCERY, SUPERMARKET • 49,871 SF
      1724 Francis Ave, Spokane, WA 99205-6833
      View Details
    • Value Estimation by Request
      2,236 SF

      3039 Monroe St

      CONVENIENCE STORE • 2,236 SF
      3039 Monroe St, Spokane, WA 99205-3363
      View Details

    Similar Nearby for Sale

    • $2,078,500

      Established Espresso Stand For Sale

      Turnkey espresso stand business and real estate opportunity on high-traffic corner.
      2503 W Northwest Blvd, Spokane, WA 99205
      View Details
    • Contact for pricing
      1,930 SF

      Commercially Zoned Building For Rent

      Commercially zoned building with multiple suites available for rent.
      1211 W Northwest Blvd, Spokane, WA 99205
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    • $35,000,000
      163,161 SF

      Grocery Anchored Retail Center

      Established retail destination with diverse tenants and strong market presence.
      1628-1902 W Francis Ave, Spokane, WA 99205
      View Details
    • Contact for pricing
      2,786 SF

      Drive-Thru Restaurant Opportunity

      2nd generation drive-thru restaurant space available for sale.
      1812 W Northwest Blvd, Spokane, WA 99205
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    • $1,495,000

      Spokane Restaurant/Retail Opportunity For Sale

      Turn-key restaurant or retail opportunity in Spokane, WA.
      3315 W Northwest Blvd, Spokane, WA 99205
      View Details
    • Contact for pricing
      7,915 SF

      North Spokane Retail Investment Opportunity

      Multi-tenant retail building in established commercial corridor.
      5525 N Alberta St, Spokane, WA 99205
      View Details

    Similar Nearby for Lease

    • $1,650 /Mo

      Corner Retail and Office Space

      Retail and office space available on corner of N. Wall.
      5524 N Wall St, Spokane, WA 99205
      View Details
    • Contact for pricing
      8,000 SF

      Retail Center Space Available

      Retail spaces available in high-visibility Spokane location.
      4411-4507 W Wellesley Ave, Spokane, WA 99205
      View Details
    • Contact for pricing
      2,000 SF

      Prime Corner Retail Property Available

      Corner retail property with excellent visibility and accessibility for rent.
      16-28 E Indiana Ave, Spokane, WA 99205
      View Details
    • $12 SF/Yr

      Retail Space on Corner Location

      Corner retail space with great signage and visibility available for lease.
      926 W Indiana Ave, Spokane, WA 99205
      View Details
    • $1,700 /Mo
      12,114 SF

      Retail Space Near Northwest Blvd

      Retail spaces available near Northwest Blvd and Alberta Street intersection.
      2613 W 2611 - Blvd Northwest, Spokane, WA 99205
      View Details
    • $1,600 /Mo
      1,200 SF

      Retail Space Available For Rent

      Retail space available for lease in Spokane, WA.
      319-321 W Indiana Ave, Spokane, WA 99205
      View Details
    View Listing
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    323 W Indiana Ave
    Spokane, WA 99205
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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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