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Property profile & analytics
OFF-MARKET
Estimated value
$1,810,000
Medical Office Space
510 Cowley St Spokane, WA 99202-1332
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-0642598
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1971
Construction
STEEL FRAME
Total area
11,177 SF
Lot
1.01 ac (44,204 SF)
APN
35202.4141
UPID
US90-0642598
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
-
Dermatology Specialists of Spokane Medical Clinic Skin Care Clinic
-
Matthew Hand, MD Physician Medical Clinic
-
Cameron David Chesnut Physician Medical Clinic
-
Regan Brown Physician
-
Desiree Barclift Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.22M
Comparable Approach
Comparable
$1.20M
Blend (final)
Blend
$1.81M
Owner & transaction history
510 S Cowley St LLC · 10 yrs held
510 S Cowley St LLC
since 2015
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.8M
+5.2%
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%
$2,405,000
6.5%
$2,220,000
7%
$2,060,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,660,000
Current use
OFFICE BUILDING
$2,795,000
Change: +5% · Conversion: Easy
RESTAURANT
$2,475,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,210,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.81M
Range $1.63M – $1.99M · ±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
$162 / 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
$29,182
Tax year 2023
Assessed value
$2,991,590
Assessed 2024
Previous assessed
$2,853,190
+4.9% YoY
Effective rate
0.98%
On assessed value
Assessed land
$972,490
Assessed improvement
$2,019,100
Land market value
$972,490
Improvement market value
$2,019,100
Total market value
$2,991,590
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1971
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
4
Total area
11,177 SF
Lot
1.01 ac (44,204 SF)
APN
35202.4141
UPID
US90-0642598
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
MEDICAL BUILDING Current
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.8M
RESTAURANT
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.2M
MEDICAL BUILDING Current
OFFICE 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
1971
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
4
Lot
1.01 ac
Current owner
From public records · entity-resolved
510 S Cowley St LLC
Entity
Mailing address
601 W MAIN AVE STE #400, SPOKANE, WA 99201-0613
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2017
—
510 S Cowley St LLC
—
Deed
related
$2,500,000 · Miscellaneous Ins Co
Aug 19, 2015
$2,075,000
510 S Cowley St LLC
Smba LLC
Warranty Deed
$1,763,750 · Umpqua Bank
—
—
Smba LLC
—
Deed Of Trust
related
$825,000 · Baker Boyer National Bank
—
—
510 S Cowley St LLC
—
Deed Of Trust
related
$2,500,000 · Miscellaneous Ins Co
—
—
Smba LLC
—
Deed Of Trust
related
$32,000 · Washington Trust Bank
—
—
Smba LLC
—
Deed Of Trust
related
$1,100,000 · Ameritas Life Insurance Corp
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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