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Property profile & analytics
FOR LEASE
Warehouses
5805 W Thorpe Rd Spokane, WA 99224
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-0347286
For Lease
1 / 18
$1,120,000
5805 W Thorpe Rd, Spokane, WA 99224
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2008
Total area
6,085 SF
Lot
0.32 ac (13,786 SF)
APN
25343.0115
UPID
US90-0347286
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
-
Clean Diesel Specialists - Spokane, Washington Auto Repair Shop
-
G2 Construction Inc General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.12M
Owner & transaction history
4x Thorpe Rd LLC · 2 yrs held
4x Thorpe Rd LLC
since 2023
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+108.0%
Medical building
$1.4M
+97.8%
Retail stores
$1.4M
+91.5%
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
$1,080,000
ML approach
$1,095,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$730,000
Current use
OFFICE BUILDING
$1,520,000
Change: +108% · Conversion: Difficult
MEDICAL BUILDING
$1,445,000
Change: +98% · Conversion: Difficult
RETAIL STORES
$1,400,000
Change: +91% · Conversion: Moderate
RESTAURANT
$1,350,000
Change: +84% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,205,000
Change: +64% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,095,000
Change: +50% · Conversion: Easy
Blend value · Realmo final
$1.12M
Range $1.01M – $1.23M · ±10% · vs last sale $1.15M (Aug 23 2023)
Last sale anchor
$1.15M
Aug 23 2023
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
$184 / 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
$5,142
Tax year 2023
Assessed value
$604,120
Assessed 2024
Previous assessed
$546,620
+10.5% YoY
Effective rate
0.85%
On assessed value
Assessed land
$31,020
Assessed improvement
$573,100
Land market value
$31,020
Improvement market value
$573,100
Total market value
$604,120
Applied tax rate
2,040.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2008
Heating
NONE
Stories
1
Total area
6,085 SF
Lot
0.32 ac (13,786 SF)
APN
25343.0115
UPID
US90-0347286
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
WAREHOUSE, STORAGE Current
Est. value
$730,000
OFFICE BUILDING
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
RESTAURANT
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (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
2008
Heating
NONE
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
4x Thorpe Rd LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2405 S PERRY ST, SPOKANE, WA 99203-3895
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2024
—
4x Thorpe Rd LLC
—
Deed
related
$3,250,863 · Bankcda
Aug 23, 2023
$1,150,000
4x Thorpe Rd LLC
Double G Investments LLC
Warranty Deed
—
Aug 14, 2020
$740,000
Double G Investments LLC
West Agribusiness Assn Far
Warranty Deed
—
Jul 20, 2015
$550,000
Far West Agribusiness Association
Yesrek LLC
Warranty Deed
$300,000 · Us Bank NA
Jun 17, 2010
$550,280
Yesrek LLC
Geiger Thorpe Commercial Properties
Warranty Deed
$467,500 · Pacific International Bank
Sep 19, 2007
—
Geiger-thorpe Coml Props LLC
Walls,armand A & Marjorie R
Quit Claim Deed
related
—
Apr 30, 2007
$135,203
Armand A Walls
Overhead Door Co Of Southwestern
Grant Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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