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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Office buildings
59 Queen Ave Spokane, WA 99207-1430
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US90-0247305
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1971
Construction
STEEL FRAME
Total area
5,952 SF
Lot
0.15 ac (6,350 SF)
APN
36323.2518
UPID
US90-0247305
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
-
Cameron Dewar, Licensed Marriage & Family Therapist Counselor
-
Soul Based Life Alternative Medicine Practice
-
Jeramee Sauls - MetLife Auto & Home Insurance Agency
-
Anderson Insurance Services, LLC Insurance Agency
-
Aaron Olson J.D.,M.B.A. Law Firm Child Welfare Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$686k
Blend (final)
Blend
$965k
Owner & transaction history
Queen Offices LLC · 19 yrs held
Queen Offices LLC
since 2007
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
OFFICE BUILDING
$1,490,000
Current use
MEDICAL BUILDING
$1,415,000
Change: -5% · Conversion: Easy
RETAIL STORES
$1,415,000
Change: -5% · Conversion: Moderate
RESTAURANT
$1,320,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$8,240
Tax year 2023
Assessed value
$843,850
Assessed 2024
Previous assessed
$825,600
+2.2% YoY
Effective rate
0.98%
On assessed value
Assessed land
$57,150
Assessed improvement
$786,700
Land market value
$57,150
Improvement market value
$786,700
Total market value
$843,850
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1971
Construction
STEEL FRAME
Heating
NONE
Stories
2
Bathrooms
2
Total area
5,952 SF
Lot
0.15 ac (6,350 SF)
APN
36323.2518
UPID
US90-0247305
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
OFFICE BUILDING Current
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
RESTAURANT
Est. value
$1.3M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
RESTAURANT
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
2
Bathrooms
2
Lot
0.15 ac
Current owner
From public records · entity-resolved
Queen Offices LLC
Entity
Mailing address
731 E KATHY LEE AVE, MEDICAL LAKE, WA 99022-9207
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2007
$745,000
Queen Offices LLC
Douma,marvin L & Mary R
Warranty Deed
$596,000 · American West Bank
—
—
Kclp Associates
—
Deed Of Trust
related
$523,000 · Sterling Savings Bank
—
—
Kclp Associates
—
Deed Of Trust
related
$50,000 · Sterling Savings Association
—
—
Marvin J Douma
—
Deed Of Trust
related
$182,307 · Farmers & Merchants Bk Rockfor
—
—
Kclp Associates
—
Deed Of Trust
related
$410,615 · Sterling Savings Association
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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