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Property profile & analytics
OFF-MARKET
Estimated value
$2,500,000
Outlet malls
5518 Broadway Ave Spokane Valley, WA 99212-0910
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0635992
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,580 SF
Lot
2.16 ac (94,290 SF)
APN
35144.9058
UPID
US90-0635992
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
-
Papé Material Handling (Bike/Boat/Book/etc) Store Rental Equipment Company
-
Engineered Products, a Papé Company Material Handling Equipment Supplier
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.50M
CAP Approach
CAP
$2.51M
Comparable Approach
Comparable
$1.61M
Blend (final)
Blend
$2.50M
Owner & transaction history
Rss Investments LLC · 2 yrs held
Rss Investments LLC
since 2024
Last sale
$2.5M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.8M
+27.3%
Office building
$3.8M
+27.1%
Medical building
$3.6M
+19.3%
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 Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane Valley 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
$2,500,000
ML approach
$2,500,000
CAP Approach
CAP Return
Estimation
6%
$2,715,000
6.5%
$2,510,000
7%
$2,330,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,990,000
Current use
RESTAURANT
$3,810,000
Change: +27% · Conversion: Easy
OFFICE BUILDING
$3,800,000
Change: +27% · Conversion: Easy
MEDICAL BUILDING
$3,570,000
Change: +19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,670,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$2.50M
Range $2.25M – $2.75M · ±10% · vs last sale $2.50M (Feb 8 2024)
Last sale anchor
$2.50M
Feb 8 2024
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
$142 / 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
$11,599
Tax year 2023
Assessed value
$958,620
Assessed 2024
Previous assessed
$856,320
+11.9% YoY
Effective rate
1.21%
On assessed value
Assessed land
$330,020
Assessed improvement
$628,600
Land market value
$330,020
Improvement market value
$628,600
Total market value
$958,620
Applied tax rate
140.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Bathrooms
2
Total area
17,580 SF
Lot
2.16 ac (94,290 SF)
APN
35144.9058
UPID
US90-0635992
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
RETAIL STORES Current
Est. value
$3.0M
RESTAURANT
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.6M
COMMERCIAL (GENERAL)
Est. value
$2.7M
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
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
2
Bathrooms
2
Lot
2.16 ac
Current owner
From public records · entity-resolved
Rss Investments LLC
Entity
Mailing address
355 GOODPASTURE IS RD STE #300, EUGENE, OR 97401-2119
Ownership since
2024
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
Feb 8, 2024
$2,500,000
Rss Investments LLC
Pape Properties INC
Warranty Deed
$2,425,000 · Summit Bank
May 11, 1999
—
Pape Properties INC
—
Deed Of Trust
related
$21,500,000 · Wells Fargo Bank
—
—
Pape Properties INC
—
Deed Of Trust
related
$740,010 · Cit Group/equipment Financing
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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