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    3702 Grand Blvd Spokane, WA 99203
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    Property profile & analytics

    3702 Grand Blvd, Spokane, WA 99203

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    • Commercial real estate
    Off-Market
    Property ID
    US90-0642250
    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

    • Commercial real estate

    Property Details for 3702 Grand Blvd

    Property type
    Commercial real estate

    Description

    This exceptional 25,500 square foot commercial land parcel presents a remarkable opportunity for development in Spokane, Washington. Located at 3702 S Grand Blvd, Spokane, WA 99203, this property boasts a highly desirable location with significant traffic volume. The lot size is approximately 0.58 acres, providing ample space for a variety of commercial ventures. Its strategic positioning benefits from substantial daily traffic counts on both 37th Avenue (2,600 ADT) and South Grand Boulevard (9,800 ADT), ensuring high visibility and accessibility for potential businesses. The property is zoned for commercial use, making it ideal for retail establishments, restaurants, or other commercial developments. This prime location offers excellent potential for strong returns on investment, making it an attractive opportunity for savvy investors seeking a high-traffic, well-situated commercial property in the thriving Spokane market. The property is conveniently located in Spokane County and offers easy access to major transportation routes. This is a rare opportunity to acquire a substantial commercial land parcel in a prime location with high traffic counts. Don't miss out on this chance to secure a valuable asset in a growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4023941
    Latitude
    47.6203257

    Comparable in this City

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      Waterfront Lot on Latah Creek

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      Land Available for Sale

      Land available for sale in Spokane, WA.
      2215 E 30Th Ave, Spokane, WA 99203
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    • $575,000
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      Spacious Lot in Desirable Rockwood

      0.34-acre lot in Rockwood, ideal for custom home.
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    Similar Nearby for Sale

    • $225,000
      0.32 Acres

      South Hill Development Opportunity

      Cleared, level lot on Spokane's South Hill.
      2101 E 30Th Ave, Spokane, WA 99203
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    • Contact for pricing
      0.16 Acres

      Spokane Landlocked South Hill Lot

      Landlocked South Hill lot ideal for neighborhood residents.
      1125 E 32Nd Ave, Spokane, WA 99203
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    • $625,000
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      Spacious Lot in Desirable Rockwood

      0.34-acre lot in Rockwood, ideal for custom home.
      S Rockwood Blvd, Spokane, WA 99203
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    • $140,000
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      Waterfront Lot on Latah Creek

      1.59 acre waterfront lot in Spokane city limits.
      3331 S Inland Empire Way, Spokane, WA 99203
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      Land Available for Sale

      Land available for sale in Spokane, WA.
      2215 E 30Th Ave, Spokane, WA 99203
      View Details
    • $575,000
      0.34 Acres

      Spacious Lot in Desirable Rockwood

      0.34-acre lot in Rockwood, ideal for custom home.
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    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Spokane Retail Space Available

      Retail space available for lease in Spokane, Washington.
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    • $3,500 /Mo

      South Hill Retail Space Available

      Retail spaces for lease in high-traffic South Hill neighborhood.
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      Retail Space Available for Rent

      Retail space available for lease off Ash Street.
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      Flexible Office/Retail Space Available

      Office/retail spaces ranging from 262 to 2,102 SF for rent.
      1001 W 25Th Ave, Spokane, WA 99203
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    • Contact for pricing

      Retail and Office Spaces Available

      Retail and office spaces available for lease.
      2005 E 29Th Ave, Spokane, WA 99203
      View Details
    Request Owner's contact information
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    3702 Grand Blvd
    Spokane, WA 99203
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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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