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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Office buildings
607 Government Way Spokane, WA 99224-1860
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1014755
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,216 SF
Lot
1.07 ac (46,592 SF)
APN
25234.0109
UPID
US90-1014755
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$905k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$757k
Blend (final)
Blend
$775k
Owner & transaction history
Dignity Housing LLC · 4 yrs held
Dignity Housing LLC
since 2021
Last sale
$650,000
7 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
$925,000
ML approach
$905,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,240,000
Change: -5% · Conversion: Easy
RETAIL STORES
$1,200,000
Change: -8% · Conversion: Moderate
RESTAURANT
$1,155,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$775k
Range $698k – $853k · ±10% · vs last sale $650k (Nov 5 2021)
Last sale anchor
$650k
Nov 5 2021
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
$149 / 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
$5,397
Tax year 2023
Assessed value
$552,290
Assessed 2024
Previous assessed
$512,190
+7.8% YoY
Effective rate
0.98%
On assessed value
Assessed land
$269,090
Assessed improvement
$283,200
Land market value
$269,090
Improvement market value
$283,200
Total market value
$552,290
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
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Total area
5,216 SF
Lot
1.07 ac (46,592 SF)
APN
25234.0109
UPID
US90-1014755
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
MEDICAL BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
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
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Lot
1.07 ac
Current owner
From public records · entity-resolved
Dignity Housing LLC
Entity
Mailing address
607 S GOVERNMENT WAY, SPOKANE, WA 99224-1860
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2021
$650,000
Dignity Housing LLC
Rainmaker LLC
Warranty Deed
—
Jul 25, 2017
—
Rainmaker LLC
Rainmaker LLC
Intrafamily Transfer
related
$646,641 · Riverbank
May 4, 2004
—
Rainmaker Investments LLC
Mckinney,daniel R & Deborah L
Quit Claim Deed
related
$390,000 · Washington Trust Bank
—
—
Rainmaker Investments LLC
—
Deed Of Trust
related
$155,000 · Washington Trust Bank
—
—
Daniel R Mckinney
—
Deed Of Trust
related
$276,958 · Washington Trust Bank
—
—
Rainmaker Investments LLC
—
Deed Of Trust
related
$100,000 · F & M Bank
—
—
Rainmaker Investments LLC
—
Deed Of Trust
related
$640,000 · Riverbank
—
—
Rainmaker Investments LLC
—
Deed Of Trust
related
$163,476 · Riverbank
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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