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Property profile & analytics
FOR LEASE
Grocery and convenience stores
323 W Indiana Ave Spokane, WA 99205
Entity Owned
Absentee Owner
Free & Clear
Property ID
US90-1039873
For Lease
1 / 2
$1,600/Mo
323 W Indiana Ave, Spokane, WA 99205
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,200 SF
Lot
0.42 ac (18,510 SF)
APN
35074.5807
UPID
US90-1039873
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
-
Citibank ATM Atm
-
Indiana Market Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$970k
Comparable Approach
Comparable
$554k
Blend (final)
Blend
$755k
Owner & transaction history
HARLAN D DOUGLASS TRUST
HARLAN D DOUGLASS TRUST
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.2M
+508.5%
Commercial (general)
$1.1M
+457.8%
Office building
$825,000
+312.6%
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%
$1,050,000
6.5%
$970,000
7%
$900,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,220,000
Change: +509% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,120,000
Change: +458% · Conversion: Easy
OFFICE BUILDING
$825,000
Change: +313% · Conversion: Moderate
RESTAURANT
$820,000
Change: +310% · Conversion: Difficult
AUTO REPAIR, GARAGE
$685,000
Change: +241% · Conversion: Difficult
RETAIL STORES
$595,000
Change: +196% · Conversion: Easy
MEDICAL BUILDING
$495,000
Change: +147% · Conversion: Difficult
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$145 / 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
$5,678
Tax year 2023
Assessed value
$581,070
Assessed 2024
Previous assessed
$542,320
+7.1% YoY
Effective rate
0.98%
On assessed value
Assessed land
$129,570
Assessed improvement
$451,500
Land market value
$129,570
Improvement market value
$451,500
Total market value
$581,070
Applied tax rate
10.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
For Lease
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
3
Total area
5,200 SF
Lot
0.42 ac (18,510 SF)
APN
35074.5807
UPID
US90-1039873
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$825,000
RESTAURANT
Est. value
$820,000
AUTO REPAIR, GARAGE
Est. value
$685,000
RETAIL STORES
Est. value
$595,000
MEDICAL BUILDING
Est. value
$495,000
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
3
Lot
0.42 ac
Current owner
From public records · entity-resolved
HARLAN D DOUGLASS TRUST
Entity
Free & Clear · 0 yrs held
Mailing address
801 W RIVERSIDE AVE STE #400, SPOKANE, WA 99201-0908
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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