New search
Property profile & analytics
FOR LEASE
Banks
534 E Spokane Falls Blvd, Spokane, WA 99202
Entity Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0270037
For Lease
$24 SF/Yr
534 E Spokane Falls Blvd, Spokane, WA 99202
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1997
Total area
12,623 SF
Lot
2.37 ac (103,423 SF)
APN
35173.0123
UPID
US90-0270037
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
-
Whitworth University Downtown campus University
-
Weyerhaeuser Hall College Business School
-
Wsu Extension Energy Program Research Institute
-
Logan Phillips - Thrivent Financial Advisor
-
Nathan Clark - Thrivent Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$2.02M
Owner & transaction history
Riverfront Office Park LLC · 18 yrs held
Riverfront Office Park LLC
since 2008
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.2M
+47.0%
Medical building
$3.0M
+39.8%
Restaurant
$2.8M
+30.3%
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
FINANCIAL BUILDING
$2,145,000
Current use
OFFICE BUILDING
$3,155,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$3,000,000
Change: +40% · Conversion: Difficult
RESTAURANT
$2,800,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,495,000
Change: +16% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,270,000
Change: +6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,035,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.02M
Range $1.82M – $2.22M · ±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
$160 / 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
$45,533
Tax year 2023
Assessed value
$4,668,600
Assessed 2024
Previous assessed
$4,179,080
+11.7% YoY
Effective rate
0.98%
On assessed value
Assessed land
$879,100
Assessed improvement
$3,789,500
Land market value
$879,100
Improvement market value
$3,789,500
Total market value
$4,668,600
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
For Lease
Year built
1997
Heating
NONE
Cooling
YES
Stories
2
Total area
12,623 SF
Lot
2.37 ac (103,423 SF)
APN
35173.0123
UPID
US90-0270037
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
$2.1M
OFFICE BUILDING
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$3.0M
RESTAURANT
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.5M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.0M
FINANCIAL BUILDING Current
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
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
1997
Heating
NONE
Cooling
Yes
Stories
2
Lot
2.37 ac
Current owner
From public records · entity-resolved
Riverfront Office Park LLC
Entity
Free & Clear · 18 yrs held
Mailing address
2800 156TH AVE SE STE #210, BELLEVUE, WA 98007-6548
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2008
—
Riverfront Office Park LLC
American West Bank
Quit Claim Deed
related
—
Sep 29, 2005
—
Riverfront Office Park LLC
Whitfield,edith I
Warranty Deed
—
May 30, 2001
—
Washington State
Whitfield,edith I
Grant Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
