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    609 S Fir Ave Deer Park, WA 99006
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    Property profile & analytics

    609 S Fir Ave, Deer Park, WA 99006

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    • Grocery and convenience stores
    • 40,231 SF
    • 3.71 lot acres
    For Lease
    $8 SF/Yr
    View Listing →
    Retail Space in Deer Park For Lease
    $8 SF/Yr
    40,652 SF

    Retail Space in Deer Park

    Retail property with ample parking and high visibility location.

    609 S Fir Ave, Deer Park, WA 99006
    View Listing
    Property ID
    US90-1707939
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 609 S Fir Ave

    Year built
    1980
    Lot size
    3.71 lot acres
    Property type
    Grocery and convenience stores
    APN
    28034.1150
    APU
    280341150

    Description

    This exceptional retail property, located at 609 S Fir Ave in Deer Park, WA 99006, presents a unique investment opportunity. The property consists of two single-story buildings totaling 48,812 square feet, situated on a substantial 144,854 square foot lot. Built in 1980 and renovated in 1995, the center offers a blend of established infrastructure and updated amenities. Currently, there is 8,160 square feet of vacant space available, divisible into units as small as 2,160 square feet, with a maximum contiguous space of 6,000 square feet. The property boasts an excellent location off Highway 395, ensuring high visibility and accessibility for customers. Ample parking is provided, and pylon signage opportunities are available for enhanced brand recognition. A 5-year lease term is preferred. Please note that there are grocery restrictions in place. This property is ideal for a variety of retail uses and presents a strong potential for growth and return on investment in the thriving Deer Park market within Spokane County. The property's size and location make it an attractive option for both established businesses and new ventures seeking a prominent presence in this desirable area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,370,000
      6.5%
      $6,800,000
      7%
      $6,315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,955,000
      Market price range: $3.52M - $14.6M
      AI Estimate
      $5,042,000
      Market price range: $1.87M - $9.83M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,580,000
      Current use
      OFFICE BUILDING
      $9,660,000
      Change: +27% Conversion: Easy
      MEDICAL BUILDING
      $8,745,000
      Change: +15% Conversion: Difficult
      RESTAURANT
      $8,675,000
      Change: +15% Conversion: Easy
      AUTO REPAIR, GARAGE
      $7,615,000
      Change: +0% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,110,000
      Change: -19% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Deer Park
    County
    Spokane
    State
    Washington
    Longitude
    -117.481
    Latitude
    47.948
    CBSA code
    44060
    CBSA name
    SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $27,466
    $646,580
    $2,403,600
    $3,050,180
    -
    $646,580
    $2,403,600
    $3,050,180

    Comparable in this City

    • Value Estimation
      $8,360,000
      55,780 SF

      810 Main St

      GROCERY, SUPERMARKET
      810 Main St, Deer Park, WA 99006-8234
      View Details
    • Value Estimation
      $625,000
      3,476 SF

      125 4th St

      CONVENIENCE STORE
      125 4th St, Deer Park, WA 99006
      View Details
    • Value Estimation by Request
      2,386 SF

      115 Crawford St

      CONVENIENCE STORE
      115 Crawford St, Deer Park, WA 99006
      View Details
    • Value Estimation by Request
      4,105 SF

      1100 Main St

      CONVENIENCE STORE
      1100 Main St, Deer Park, WA 99006-7021
      View Details
    • Value Estimation by Request
      340 SF

      1501 Crawford St

      GROCERY, SUPERMARKET
      1501 Crawford St, Deer Park, WA 99006
      View Details
    • Value Estimation by Request
      10,927 SF

      5 Crawford St

      RETAIL STORES (PERSONAL SERVICES)
      5 Crawford St, Deer Park, WA 99006-5002
      View Details

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      Retail Space in Deer Park

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    Similar Nearby for Lease

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      Retail Space in Deer Park

      Retail property with ample parking and high visibility location.
      609 S Fir Ave, Deer Park, WA 99006
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      Deer Park Specialty Property

      Specialty property available for rent in Deer Park, Washington.
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      Warehouse Space Near Highway 395

      2,160± SF warehouse/storage space with ample parking and highway access.
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    Deer Park, WA 99006
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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