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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Office buildings
509 1st St, Cheney, WA 99004-1651
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0981238
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1918
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,320 SF
Lot
0.1 ac (4,400 SF)
APN
13131.2805
UPID
US90-0981238
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$747k
Blend (final)
Blend
$690k
Owner & transaction history
Wilfred J Mahaffy · 8 yrs held
Wilfred J Mahaffy
since 2018
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 Cheney submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cheney 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
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$109 / 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
$2,642
Tax year 2023
Assessed value
$315,200
Assessed 2024
Previous assessed
$314,200
+0.3% YoY
Effective rate
0.84%
On assessed value
Assessed land
$35,200
Assessed improvement
$280,000
Land market value
$35,200
Improvement market value
$280,000
Total market value
$315,200
Applied tax rate
110.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1918
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
2
Total area
6,320 SF
Lot
0.1 ac (4,400 SF)
APN
13131.2805
UPID
US90-0981238
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
1918
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Wilfred J Mahaffy
Individual
Mailing address
2218 1ST ST, CHENEY, WA 99004-2048
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2022
—
Wilfred Jay Mahaffy
—
Deed
related
$500,000 · Spokane Teachers Cu
May 17, 2018
—
Wilfred J Mahaffy
Rene L Mahaffy
Quit Claim Deed
related
$160,000 · Spokane Teachers Cu
May 17, 2018
$117,834
Wilfred J Mahaffy
Mahaffy W & J L/tr
Warranty Deed
related
$160,000 · Spokane Teachers Cu
—
—
Mahaffy Trust
—
Deed Of Trust
related
$111,043 · Farmers & Merchants Bk Rockfor
—
—
Mahaffy,tr
—
Deed Of Trust
related
$126,956 · Wheatland Bank
—
—
Wilfred J Mahafy
—
Deed Of Trust
related
$100,000 · Seafirst Bank
—
—
Mahaffy W & J Living Trust
—
Deed Of Trust
related
$73,000 · Spokane Teachers Cu
—
—
Mahaffy W & J Living Trust
—
Deed Of Trust
related
$146,000 · Spokane Teachers Cu
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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