Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3615 Grand Blvd Spokane, WA 99203-2624

    • Medical offices
    • 2,654 SF
    • 0.29 lot acres
    OFF-MARKET
    Last Sale
    Apr 01, 2022
    $850,000
    Value Estimations
    $750,000
    Show details
    Cap Rate Potential
    4.4%
    Medical offices
    Location Intelligence
    Property ID
    US90-0246665
    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

    • Manito Family Dentistry, Kelly A. Hennessey DDS / Dental Clinic
    • Dr. Mitchell Orsi / Dentist
    • Kelly A. Hennessey, D.D.S., PLLC / Dental Clinic

    Property Details for 3615 Grand Blvd

    Year built
    1955
    Construction
    STEEL FRAME
    Lot size
    0.29 lot acres
    Property size
    2,654 SF
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    35322.3012
    APU
    353223012

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $770,000
      ML approach
      $795,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $570,000
      6.5%
      $525,000
      7%
      $490,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $844,000
      Market price range: $367k - $845k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $630,000
      Current use
      OFFICE BUILDING
      $665,000
      Change: +5% Conversion: Easy
      RETAIL STORES
      $610,000
      Change: -3% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $525,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.401
    Latitude
    47.621
    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
    $8,189
    $89,740
    $748,900
    $838,640
    -
    $89,740
    $748,900
    $838,640

    Comparable in this City

    • Value Estimation
      $705,000
      12,332 SF

      2230 29th Ave

      MEDICAL BUILDING • 12,332 SF
      2230 29th Ave, Spokane, WA 99203
      View Details
    • Value Estimation
      $335,000
      2,346 SF

      3201 Grand Blvd

      MEDICAL BUILDING • 2,346 SF
      3201 Grand Blvd, Spokane, WA 99203-2616
      View Details
    • Value Estimation
      $685,000
      7,235 SF

      2772 Grand Blvd

      MEDICAL BUILDING • 7,235 SF
      2772 Grand Blvd, Spokane, WA 99203-2526
      View Details
    • Value Estimation
      $340,000
      1,564 SF

      2103 Grand Blvd

      DENTAL BUILDING • 1,564 SF
      2103 Grand Blvd, Spokane, WA 99203-2349
      View Details
    • Value Estimation
      $1,265,000
      9,650 SF

      418 30th Ave

      MEDICAL BUILDING • 9,650 SF
      418 30th Ave, Spokane, WA 99203-2577
      View Details
    • Value Estimation
      $995,000
      6,589 SF

      611 31st Ave

      DENTAL BUILDING • 6,589 SF
      611 31st Ave, Spokane, WA 99203-3101
      View Details

    Similar Nearby for Sale

    • $500,000
      4,800 SF

      Auto and Boat Detailing Business

      Auto and boat detailing business with real estate for sale.
      2624 N Monroe St, Spokane, WA 99203
      View Details
    • $375,000

      Airway Heights Warehouse Opportunity

      Warehouse in Airway Heights with fenced yard and power.
      12825 W 17Th Ave, Airway Heights, WA 99203
      View Details
    • $1,095,597

      Development Land Near Fairchild AFB

      6.95 acres of development land near Fairchild AFB.
      W 16Th Ave, Airway Heights, WA 99203
      View Details
    • $475,000
      1,934 SF

      South Hill Townhome with Backyard

      Charming Spokane townhome with open layout and private backyard.
      3001 S Winthrop Ln, Spokane, WA 99203
      View Details
    • $225,000
      0.32 Acres

      South Hill Development Opportunity

      Cleared 0.32-acre lot zoned for multi-family development.
      2101 E 30Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing

      Prime Helena Office Space for Lease

      Class A Office, 4200+ sq ft, Great Location
      2005 29Th Ave, Spokane, WA 99203
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      16,082 SF

      Spokane Office Space Available

      Prime Spokane location, multiple suites.
      2005 29Th Ave, Spokane, WA 99203
      View Details
    • $21 SF/Yr
      25,176 SF

      South Hill Office Space Available

      Office space for rent with ample on-site parking.
      1403 S Grand Blvd, Spokane, WA 99203
      View Details
    • $8 SF/Yr
      9,775 SF

      Grand Blvd Creative Office Space

      Spokane, WA: Class A Office Suites Available
      3707 Grand Blvd, Spokane, WA 99203
      View Details
    • $18 SF/Yr
      4,568 SF

      South Hill Retail Space Available

      Prime Retail, 1,150 SF, South Hill
      1001 25Th Ave, Spokane, WA 99203
      View Details
    • $16 SF/Yr
      1,256 SF

      Spokane South Hill Retail Space

      High-visibility shopping center in Spokane's South Hill area.
      2975-2975 E 29Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing
      27,443 SF

      Commercial Land Available For Rent

      Commercial land for rent in Spokane, WA. 27,443 square feet.
      2515-2529 N Division St, Spokane, WA 99203
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3615 Grand Blvd
    Spokane, WA 99203-2624
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.