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For Lease
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609 S Fir Ave, Deer Park, WA 99006
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Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1980
Total area
40,231 SF
Lot
3.71 ac (161,644 SF)
APN
28034.1150
UPID
US90-1707939
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.80M
Comparable Approach
Comparable
$5.96M
Blend (final)
Blend
$5.94M
Owner & transaction history
since 2018
2 recorded transactions
Zoning & alternative use
Top alternative use upside
Office building
$9.7M
+27.5%
Medical building
$8.7M
+15.4%
Restaurant
$8.7M
+14.5%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$5.94M
Value range
$5.34M – $6.53M
±10% around blend
Estimated value / SF
$148 / SF
Confidence
Property data
88
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$5.34M
blend $5.94M
$6.53M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
40,231 SF
Lot area
3.71 ac
Year built
1980
Stories
2
APN
28034.1150
Assessed value
$3,050,180
Annual tax
$27,466
3
Income approach: direct capitalization
Partial preview
Income approach indication
$6.80M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$7.37M
@ 6.5% CAP return
$6.80M
@ 7% CAP return
$6.32M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$27,466
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$5.96M
Range $3.52M – $14.61M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.94M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 288 sales
$188
-22%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $148/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+27%
vs current-use indication
Medical Building
Restaurant
Auto Repair, Garage
Retail Stores · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$6.38M
Move the market yield to see immediate price impact.
Value / SF
$159
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$402k
$8.04M
$5.74M
$4.47M
$447k
$8.94M
$6.38M
$4.96M
$491k
$9.83M
$7.02M
$5.46M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$27,466
Tax year 2023
Assessed value
$3,050,180
Assessed 2024
Previous assessed
$2,955,580
+3.2% YoY
Effective rate
0.90%
On assessed value
Assessed land
$646,580
Assessed improvement
$2,403,600
Land market value
$646,580
Improvement market value
$2,403,600
Total market value
$3,050,180
Applied tax rate
310.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
1980
Heating
NONE
Buildings
3
Stories
2
Total area
40,231 SF
Lot
3.71 ac (161,644 SF)
APN
28034.1150
UPID
US90-1707939
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Heating
NONE
Stories
2
Buildings
3
Lot
3.71 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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