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Property profile & analytics
FOR LEASE
Parking lots & garages
4750 N Division St, Spokane, WA 99207
Individually Owned
3-yr Hold
Free & Clear
Property ID
US90-1988296
For Lease
1 / 8
$32,760,000
4750 N Division St, Spokane, WA 99207
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Property summary
AI-generated overview
Northtown Mall, located at 4750 N Division St, Spokane, WA 99207, presents a significant retail investment opportunity. This established shopping mall comprises four buildings totaling 925,797 square feet, spread across three stories. The property is zoned GC-70 and features 27 available spaces ranging in size from 363 square feet to 8,007 square feet, offering flexibility for a variety of retail tenants. The mall's diverse tenant mix currently includes dining, apparel, entertainment, and beauty businesses, creating a vibrant and attractive shopping destination. Ground level spaces range from approximately 846 to 6,700 square feet, while second-level spaces range from approximately 363 to 8,007 square feet. The property's location in Spokane County, with its APN numbers 36323.0032 & 36323.0033, provides excellent access to a substantial customer base. Rental rates and expense details (Modified Gross) are available upon request. This is an exceptional opportunity to secure prime retail space in a thriving Spokane location. Contact us to learn more about leasing opportunities at Northtown Mall.
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1991
Total area
105,690 SF
Lot
23.79 ac (1,036,493 SF)
APN
36323.0033
UPID
US90-1988296
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
-
Zumiez Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
H&M Cosmetics Store Men'S Clothing Store
-
Maurices Clothing & Fashion Store
-
American Eagle Store Clothing Store Men'S Clothing Store
-
Marshalls Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$34.15M
Blend (final)
Blend
$32.76M
Owner & transaction history
Lincoln National Life Insurance Com · 3 yrs held
Lincoln National Life Insurance Com
since 2023
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$26.4M
+49.5%
Medical building
$25.1M
+42.2%
Retail stores
$25.1M
+41.9%
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
Alternative Use
Use
Estimation
OFFICE BUILDING
$26,435,000
Change: +50% · Conversion: Difficult
MEDICAL BUILDING
$25,140,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$25,095,000
Change: +42% · Conversion: Difficult
RESTAURANT
$23,425,000
Change: +32% · Conversion: Difficult
AUTO REPAIR, GARAGE
$20,890,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$32.76M
Range $29.48M – $36.04M · ±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
$310 / 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
$344,768
Tax year 2023
Assessed value
$35,357,250
Assessed 2024
Previous assessed
$32,779,150
+7.9% YoY
Effective rate
0.98%
On assessed value
Assessed land
$14,821,850
Assessed improvement
$20,535,400
Land market value
$14,821,850
Improvement market value
$20,535,400
Total market value
$35,357,250
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
1991
Heating
NONE
Buildings
12
Stories
1
Total area
105,690 SF
Lot
23.79 ac (1,036,493 SF)
APN
36323.0033
UPID
US90-1988296
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
OFFICE BUILDING
Est. value
$26.4M
MEDICAL BUILDING
Est. value
$25.1M
RETAIL STORES
Est. value
$25.1M
RESTAURANT
Est. value
$23.4M
AUTO REPAIR, GARAGE
Est. value
$20.9M
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
1991
Heating
NONE
Stories
1
Buildings
12
Lot
23.79 ac
Current owner
From public records · entity-resolved
Lincoln National Life Insurance Com
Individual
Free & Clear · 3 yrs held
Mailing address
100 N GREENE ST, GREENSBORO, NC 27401-2547
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 17, 2023
—
Lincoln National Life Insurance Com
North Town Mall Realty Holding LLC
Assignment Of Deed
—
Aug 2, 2022
—
Standard Insurancce Company
North Town Mall Realty Holding LLC
Assignment Of Lease (leasehold Sale)
$20,000,000 · Standard Insurance Co
Mar 1, 2022
—
North Town Mall Realty Holdings LLC
—
Deed
related
$70,800,000 · Gadelander Str
Feb 24, 2022
$48,946,500
North Town Mall Realty Holdings LLC
North Town Mall LLC
Special Warranty Deed
—
Jan 28, 2022
—
Tf Spokane Wa LLC
—
Deed
related
$460,000,000 · Ubs Ag Tampa Branch
Apr 22, 2019
—
Tf Spokane Wa LLC
—
Grant Deed
related
$800,000,000 · Hps Inv Ptrs LLC
Feb 28, 2019
—
Tf Spokane Wa LLC
Src Facilities LLC
Trust Deed
$325,000,000 · Jpp LLC
Sep 13, 2018
—
Src Facilities LLC
—
Deed
related
$143,000,000 · Ubs Ag Stamford Br
Mar 19, 2018
—
Src Facilities LLC
—
Grant Deed
related
$200,000,000 · Ubs Ag Stamford Br
Jun 29, 2010
—
North Town Mall LLC
—
Deed Of Trust
related
$1,750,000,000 · Us Bank NA
Sep 8, 2008
—
North Town Mall LLC
—
Deed Of Trust
related
$1,750,000,000 · Eurohypo Ag
Jul 30, 2008
—
Shoot Moon LLC
—
Deed Of Trust
related
$9,100,000 · Citicorp Leasing INC
—
—
North Town Mall LLC
—
Deed Of Trust
related
$1,500,000,000 · Us Bank NA
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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