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Property profile & analytics
OFF-MARKET
Estimated value
$1,065,000
Outlet malls
4616 Ben Franklin Ln Spokane, WA 99224-5178
Individually Owned
15-yr Hold
~
Est. High Equity
Property ID
US90-1355949
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,500 SF
Lot
3.36 ac (146,362 SF)
APN
24041.0306
UPID
US90-1355949
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
-
SBS Foods.Inc Distribution Center Logistics Company
-
Bakemark Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$880k
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.07M
Owner & transaction history
Christopher K Hicks · 15 yrs held
Christopher K Hicks
since 2010
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.4M
+8.6%
Medical building
$1.3M
+3.3%
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%
$950,000
6.5%
$880,000
7%
$815,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,265,000
Current use
OFFICE BUILDING
$1,375,000
Change: +9% · Conversion: Easy
MEDICAL BUILDING
$1,310,000
Change: +3% · Conversion: Difficult
RESTAURANT
$1,220,000
Change: -4% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,085,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.07M
Range $959k – $1.17M · ±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
$194 / 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
$12,419
Tax year 2023
Assessed value
$1,419,000
Assessed 2024
Previous assessed
$1,164,060
+21.9% YoY
Effective rate
0.88%
On assessed value
Assessed land
$402,500
Assessed improvement
$1,016,500
Land market value
$402,500
Improvement market value
$1,016,500
Total market value
$1,419,000
Applied tax rate
1,880.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Bathrooms
2
Total area
5,500 SF
Lot
3.36 ac (146,362 SF)
APN
24041.0306
UPID
US90-1355949
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Bathrooms
2
Lot
3.36 ac
Current owner
From public records · entity-resolved
Christopher K Hicks
Individual
Mailing address
4616 S BEN FRANKLIN LN, SPOKANE, WA 99224-5178
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2010
—
Christopher K Hicks
Carter-richner Investments
Warranty Deed
—
Jul 23, 2010
—
Stronghold Properties LLC
Christopher K Hicks
Quit Claim Deed
related
$656,144 · Jpmorgan Chase Bank NA
—
—
Stronghold Properties LLC
—
Deed Of Trust
related
$600,000 · John H JR Bowen
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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