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Property profile & analytics
OFF-MARKET
Estimated value
$4,620,000
Commercial real estate
507 Howard St Spokane, WA 99204-2659
Entity Owned
8-yr Hold
Property ID
US90-1561050
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1912
Construction
CONCRETE
Total area
31,965 SF
Lot
0.33 ac (14,285 SF)
APN
35191.4301
UPID
US90-1561050
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
-
Riverfront Park Park Tourist Attraction
-
Knickerbocker Apartments Apartment Building
-
Rotary Fountain Resort
-
Shane O'Reilly Memorial Court Family Recreation Center
-
Lilac Park Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.88M
Comparable Approach
Comparable
$4.57M
Blend (final)
Blend
$4.62M
Owner & transaction history
Knickerbocker LLC · 8 yrs held
Knickerbocker LLC
since 2018
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$7.6M
+47.4%
Retail stores
$7.4M
+42.7%
Restaurant
$7.1M
+37.4%
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%
$6,365,000
6.5%
$5,875,000
7%
$5,455,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,160,000
Current use
MEDICAL BUILDING
$7,605,000
Change: +47% · Conversion: Easy
RETAIL STORES
$7,360,000
Change: +43% · Conversion: Easy
RESTAURANT
$7,085,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,320,000
Change: +22% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,755,000
Change: +12% · Conversion: Moderate
Blend value · Realmo final
$4.62M
Range $4.16M – $5.08M · ±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
$145 / 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
$23,609
Tax year 2023
Assessed value
$3,611,700
Assessed 2024
Previous assessed
$2,729,500
+32.3% YoY
Effective rate
0.65%
On assessed value
Assessed land
$314,270
Assessed improvement
$3,297,430
Land market value
$314,270
Improvement market value
$3,297,430
Total market value
$3,611,700
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1912
Construction
CONCRETE
Heating
NONE
Stories
3
Units
30
Bathrooms
35
Total area
31,965 SF
Lot
0.33 ac (14,285 SF)
APN
35191.4301
UPID
US90-1561050
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
COMMERCIAL (GENERAL) Current
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$7.6M
RETAIL STORES
Est. value
$7.4M
RESTAURANT
Est. value
$7.1M
AUTO REPAIR, GARAGE
Est. value
$6.3M
INDUSTRIAL (GENERAL)
Est. value
$5.8M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (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
1912
Construction
CONCRETE
Heating
NONE
Stories
3
Units
30
Bathrooms
35
Lot
0.33 ac
Current owner
From public records · entity-resolved
Knickerbocker LLC
Entity
Mailing address
2208 W 2ND AVE, SPOKANE, WA 99201-5417
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2018
$2,705,500
Knickerbocker LLC
Braden,eric & Mary
Warranty Deed
—
Mar 15, 2012
—
Eric Braden
Braden,mary
Quit Claim Deed
related
—
Feb 9, 2012
—
Mary Braden
Allen Eugene L
Grant Deed
—
Aug 20, 2004
—
Heber H Routh
Owens,gary D & Joanne
Warranty Deed
related
—
—
—
Eric Braden
—
Deed Of Trust
related
$315,000 · Spokane Teachers Cu
—
—
Eric J Braden
—
Deed Of Trust
related
$400,000 · Spokane Teachers Cu
—
—
Eugene L Allen
—
Deed Of Trust
related
$145,000 · 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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