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Property profile & analytics
OFF-MARKET
Estimated value
$1,365,000
Banks
505 3rd Ave, Spokane, WA 99202-1426
Individually Owned
3-yr Hold
Free & Clear
Property ID
US90-3278221
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,800 SF
Lot
0.25 ac (10,680 SF)
APN
35202.2708
UPID
US90-3278221
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
-
Kathleen A. Band, DPT Physician
-
Farrah Irvine, PTA Physician
-
Jack in the Box Restaurant Take-out & Catering
-
Focus Counseling Services LLC Family Counselor
-
Goodwill Supportive Services for Veteran Families (SSVF) Advocacy Group Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.37M
Owner & transaction history
Goodwill Industrial Of Inland North · 3 yrs held
Goodwill Industrial Of Inland North
since 2022
Last sale
$1.5M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$2.1M
+5.8%
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
$1,330,000
ML approach
$1,270,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$2,005,000
Current use
INDUSTRIAL (GENERAL)
$2,125,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,905,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.37M
Range $1.23M – $1.50M · ±10% · vs last sale $1.46M (Dec 30 2022)
Last sale anchor
$1.46M
Dec 30 2022
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
$116 / 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
Tax year 2023
Assessed value
$985,400
Assessed 2024
Previous assessed
$900,400
+9.4% YoY
Effective rate
0.00%
On assessed value
Assessed land
$106,800
Assessed improvement
$878,600
Land market value
$106,800
Improvement market value
$878,600
Total market value
$985,400
Applied tax rate
14.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
6
Total area
11,800 SF
Lot
0.25 ac (10,680 SF)
APN
35202.2708
UPID
US90-3278221
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
FINANCIAL BUILDING Current
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.9M
FINANCIAL BUILDING Current
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
6
Lot
0.25 ac
Current owner
From public records · entity-resolved
Goodwill Industrial Of Inland North
Individual
Free & Clear · 3 yrs held
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2022
$1,463,692
Goodwill Industrial Of Inland North
Empire Investments LLC
Warranty Deed
—
Jul 29, 2005
$929,000
Empire Investments LLC
Third Avenue Properties LLC
Warranty Deed
—
Jun 25, 2002
—
Third Avenue Properties LLC
Garabedian,hrair & Hilda
Grant Deed
related
—
Feb 21, 2002
$580,000
Hrair A Garabedian
Md Investments INC
Grant Deed
$464,000 · Sterling Savings Bank
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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