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Property profile & analytics
OFF-MARKET
Estimated value
$3,555,000
Strip malls
5528 Ash St Spokane, WA 99205-6802
Entity Owned
~
Est. High Equity
Property ID
US90-0644937
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,997 SF
Lot
1.01 ac (44,208 SF)
APN
26361.4001
UPID
US90-0644937
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
-
Thiel Cynthia P DDS Dental Office
-
Ash & Rowan Family Dentistry Dental Office
-
Dr. Jason Kolashinski Dental Office
-
Ash and Rowan Shopping Center Business Service Center Corporate Office
-
Saffer Edward K DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.36M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.56M
Owner & transaction history
Coc Rowan LLC
Coc Rowan LLC
since 2026
Last sale
$3.7M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.2M
+508.5%
Commercial (general)
$3.9M
+457.8%
Office building
$2.9M
+312.6%
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%
$3,640,000
6.5%
$3,360,000
7%
$3,120,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,220,000
Change: +509% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,870,000
Change: +458% · Conversion: Easy
OFFICE BUILDING
$2,860,000
Change: +313% · Conversion: Moderate
RESTAURANT
$2,845,000
Change: +310% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,370,000
Change: +241% · Conversion: Difficult
Blend value · Realmo final
$3.56M
Range $3.20M – $3.91M · ±10% · vs last sale $3.65M (Jan 15 2026)
Last sale anchor
$3.65M
Jan 15 2026
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
$198 / 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
$14,662
Tax year 2023
Assessed value
$1,502,540
Assessed 2024
Previous assessed
$1,497,540
+0.3% YoY
Effective rate
0.98%
On assessed value
Assessed land
$243,140
Assessed improvement
$1,259,400
Land market value
$243,140
Improvement market value
$1,259,400
Total market value
$1,502,540
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
3
Total area
17,997 SF
Lot
1.01 ac (44,208 SF)
APN
26361.4001
UPID
US90-0644937
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$3.9M
OFFICE BUILDING
Est. value
$2.9M
RESTAURANT
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
3
Lot
1.01 ac
Current owner
From public records · entity-resolved
Coc Rowan LLC
Entity
Mailing address
PO BOX 9368, SPOKANE, WA 99209-9368
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2026
$3,650,000
Coc Rowan LLC
Ash & Rowan Investments Company I L
Warranty Deed
$1,650,000 · Ash & Rowan Investment Co 1 LLC
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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