Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3939 Freya St Spokane, WA 99217-6805
    Back to Search
    Property profile & analytics

    3939 Freya St, Spokane, WA 99217-6805

    View on Map
    • Schools
    • 38,760 SF
    • 2.23 lot acres
    Off-Market
    Last Sale Feb 10, 2025
    Property ID
    US90-3324402
    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
    $1,385,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Spokane County Head Start / High School

    Property Details for 3939 Freya St

    Year built
    1977
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.23 lot acres
    Property type
    Schools
    APN
    35032.0601
    APU
    350320601

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 10, 2025 — State Of Washington Community Colleges Of Spokane Found Deed —
    — — District 17 Cmnty Clgs Foun — Deed Of Trust · related $350k · Spokane Teachers Cu
    — — District 17 Community Colleges — Deed Of Trust · related $500k · Bank Of America

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $880,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,884,000
      Market price range: $1.88M - $4.40M

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.358
    Latitude
    47.694
    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
    $0.00
    $363,870
    $908,900
    $1,272,770
    -
    $363,870
    $908,900
    $1,272,770

    Comparable in this City

    • Value Estimation by Request
      9,120 SF

      4806 Fruit Hill Rd

      Specialty properties
      4806 Fruit Hill Rd, Spokane, WA 99217
      View Details
    • Value Estimation by Request
      2,736 SF

      7001 Bigelow Gulch Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS
      7001 Bigelow Gulch Rd, Spokane, WA 99217
      View Details
    • Value Estimation by Request
      2,870 SF

      7219 Market St

      DAY CARE, PRE-SCHOOL
      7219 Market St, Spokane, WA 99217-7822
      View Details
    • Value Estimation by Request
      4,404 SF

      4848 Vly Spgs Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS
      4848 Vly Spgs Rd, Spokane, WA 99217-9367
      View Details
    • Value Estimation by Request
      8,432 SF

      6607 Havana St

      KENNEL
      6607 Havana St, Spokane, WA 99217-7402
      View Details
    • Value Estimation
      $855,000
      3,171 SF

      4909 Upriver Dr

      PROFESSIONAL CLUBS/ASSOCIATIONS
      4909 Upriver Dr, Spokane, WA 99217-7201
      View Details

    Similar Nearby for Sale

    • $140,000
      0.50 Acres

      Half-Acre Northwood View Parcel

      Vacant 0.5-acre parcel in Northwood community with Spokane views.
      8321 E Black Oak Ln, Spokane, WA 99217
      View Details
    • $100,000
      0.17 Acres

      Spokane Vacant Lot Opportunity

      Level 0.17-acre lot near Spokane River and Centennial Trail.
      5108 E Grace Ave, Spokane, WA 99217
      View Details
    • $69,000
      0.17 Acres

      Spokane Build-Ready Lot For Sale

      Build-ready Spokane lot with utilities and R-MF zoning.
      3130 E Marietta Ave, Spokane, WA 99217
      View Details
    • Contact for pricing

      Land For Sale Spokane

      Land available for purchase in Spokane, Washington.
      6411 N Freya St, Spokane, WA 99217
      View Details
    • $295,000
      1,802,513 SF

      Spokane Land with Panoramic Views

      41+ acres of rolling hills and forest trails near Spokane.
      172-xx East Frederick Rd, Spokane, WA 99217
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr

      Spokane Office Space For Rent

      1,500 SF office space available on E. Decatur Ave.
      3707 E Decatur Ave, Spokane, WA 99217
      View Details
    • Contact for pricing
      20,255 SF

      Fenced Light Industrial Land

      20,255 SF fenced land for lease in Spokane.
      1716 E Houston Ave, Spokane, WA 99217
      View Details
    • Contact for pricing

      Heavy Industrial Rail Served Land

      170.54 acres of heavy industrial land available for lease.
      2111 E Hawthorne Rd, Spokane, WA 99217
      View Details
    • $3,605 /Mo

      Flex Warehouse Space

      Functional flex warehouse space available for rent, offering room to support a range of light industrial and storage needs.
      1520 E Houston Ave, Spokane, WA 99217
      View Details
    • Contact for pricing
      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 99217
      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.
    3939 Freya St
    Spokane, WA 99217-6805
    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

    Thank You for Inquiry
    3939 Freya St, Spokane, WA, 99217
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!