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Property profile & analytics
OFF-MARKET
Estimated value
$1,575,000
Medical Office Space
406 Rowan Ave Spokane, WA 99207-1243
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-0950256
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Total area
14,440 SF
Lot
1.1 ac (48,000 SF)
APN
36323.0212
UPID
US90-0950256
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
-
Just Imagine Child Care Center Daycare Center
-
Fullmer Kurt Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.03M
Blend (final)
Blend
$1.58M
Owner & transaction history
Rowan & Lidgerwood LLC · 11 yrs held
Rowan & Lidgerwood LLC
since 2015
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.58M
Range $1.42M – $1.73M · ±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
$109 / 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
$18,830
Tax year 2023
Assessed value
$1,929,900
Assessed 2024
Previous assessed
$1,555,000
+24.1% YoY
Effective rate
0.98%
On assessed value
Assessed land
$384,000
Assessed improvement
$1,545,900
Land market value
$384,000
Improvement market value
$1,545,900
Total market value
$1,929,900
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1986
Heating
NONE
Buildings
2
Stories
1
Total area
14,440 SF
Lot
1.1 ac (48,000 SF)
APN
36323.0212
UPID
US90-0950256
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
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Stories
1
Buildings
2
Lot
1.1 ac
Current owner
From public records · entity-resolved
Rowan & Lidgerwood LLC
Entity
Mailing address
5505 NE 183RD ST, KENMORE, WA 98028-8736
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2021
—
Rowan & Lidgerwood LLC
—
Deed
related
$300,000 · Columbia State Bank
Mar 23, 2015
$1,177,864
Rowan & Lidgerwood LLC
Springer Development LLC
Bargain And Sale Deed
$975,000 · Columbia State Bank
May 1, 2014
—
Springer Dev LLC
Banner Bk
Quit Claim Deed
related
—
May 12, 2005
—
Garlin Ents LLC
Higley,gary E & Linda L
Quit Claim Deed
related
—
Jun 30, 2004
—
Gary E Higley
Rowan Medical Center LLC
Grant Deed
$2,805,000 · Farmers & Merchants Bk Rockfor
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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