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Property profile & analytics
OFF-MARKET
Estimated value
$1,470,000
Retail space
427 Main Ave, Spokane, WA 99201
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1491562
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1889
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,000 SF
Lot
0.07 ac (3,005 SF)
APN
35184.2308
UPID
US90-1491562
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.49M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.47M
Owner & transaction history
1889 Montana Building LLC · 2 yrs held
1889 Montana Building LLC
since 2023
Last sale
$1.5M
7 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
$1,405,000
ML approach
$1,490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.47M
Range $1.32M – $1.62M · ±10% · vs last sale $1.50M (Jun 30 2023)
Last sale anchor
$1.50M
Jun 30 2023
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
$490 / 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
$12,860
Tax year 2023
Assessed value
$1,317,650
Assessed 2024
Previous assessed
$1,271,500
+3.6% YoY
Effective rate
0.98%
On assessed value
Assessed land
$210,350
Assessed improvement
$1,107,300
Land market value
$210,350
Improvement market value
$1,107,300
Total market value
$1,317,650
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1889
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Total area
3,000 SF
Lot
0.07 ac (3,005 SF)
APN
35184.2308
UPID
US90-1491562
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
1889
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Lot
0.07 ac
Current owner
From public records · entity-resolved
1889 Montana Building LLC
Entity
Mailing address
621 W MALLON AVE STE #507, SPOKANE, WA 99201-2181
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2023
—
1889 Montana Building LLC
—
Deed
related
$995,000 · Banner Bank
Jun 30, 2023
$1,495,000
1889 Montana Building LLC
Wilson Commercial Properties LLC
Warranty Deed
—
Jun 30, 2023
—
On Top Realty INC
1889 Building LLC
Lease
—
May 13, 2019
$1,365,000
Wilson Coml Prop LLC
1889 Building LLC
Warranty Deed
—
Feb 15, 2018
—
1889 Building LLC
—
Deed
related
—
Jan 19, 2017
—
1889 Building LLC
—
Deed
related
$64,655 · Inland Northwest Bank
May 30, 2014
$1,020,000
1889 Building LLC
Amron Corporation
Warranty Deed
$597,474 · Inland Northwest Bank
—
—
1889 Building LLC
—
Deed Of Trust
related
$469,000 · Evergreen Busn Cap
—
—
1889 Building LLC
—
Loan Modification
related
—
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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