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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6616 Nevada St Spokane, WA 99208-5102

    • Grocery and convenience stores
    • 3,191 SF
    • 0.75 lot acres
    OFF-MARKET
    Last Sale
    Jan 17, 2023
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    9.2%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US90-1683636
    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.

    Current Use by Public Records

    • Food Mart / Grocery & Convenience Store
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Mobil / Gas Station
    • Bitcoin Depot | Bitcoin ATM / Atm / Crypto Atm
    • Bitcoin Depot ATM / Atm

    Property Details for 6616 Nevada St

    Year built
    2003
    Lot size
    0.75 lot acres
    Property size
    3,191 SF
    Property type
    Grocery and convenience stores
    APN
    36294.1407
    APU
    362941407

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $420,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $645,000
      6.5%
      $595,000
      7%
      $555,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $708,000
      Market price range: $340k - $729k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $610,000
      OFFICE BUILDING
      $435,000
      MEDICAL BUILDING
      $390,000
      AUTO REPAIR, GARAGE
      $390,000
      COMMERCIAL (GENERAL)
      $385,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.395
    Latitude
    47.7183
    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
    $13,512
    $309,290
    $1,075,300
    $1,384,590
    -
    $309,290
    $1,075,300
    $1,384,590

    Comparable in this City

    • Value Estimation by Request
      2,652 SF

      6607 9th Mile Rd

      CONVENIENCE STORE • 2,652 SF
      6607 9th Mile Rd, Spokane, WA 99208-3761
      View Details
    • Value Estimation
      $2,715,000
      29,841 SF

      7810 Division St

      GROCERY, SUPERMARKET • 29,841 SF
      7810 Division St, Spokane, WA 99208-5618
      View Details
    • Value Estimation
      $1,155,000
      8,201 SF

      5803 Market St

      CONVENIENCE STORE • 8,201 SF
      5803 Market St, Spokane, WA 99208-2370
      View Details
    • Value Estimation
      $7,485,000
      57,541 SF

      9001 Indian Trl Rd

      GROCERY, SUPERMARKET • 57,541 SF
      9001 Indian Trl Rd, Spokane, WA 99208-9116
      View Details
    • Value Estimation
      $965,000
      5,524 SF

      1019 Francis Ave

      CONVENIENCE STORE • 5,524 SF
      1019 Francis Ave, Spokane, WA 99208-3642
      View Details
    • Value Estimation
      $590,000
      3,146 SF

      3333 Indian Trl Rd

      CONVENIENCE STORE • 3,146 SF
      3333 Indian Trl Rd, Spokane, WA 99208-4762
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,775 SF

      Retail Space on Francis Avenue

      Retail space with great visibility and easy access.
      220-226 E Francis Ave, Spokane, WA 99208
      View Details
    • $3,500,000
      24,000 SF

      Division Street Retail Building

      24,000 SF Class A retail on Division Street.
      N Division St, Spokane, WA 99208
      View Details
    • $2,300,000
      18,211 SF

      Spokane Retail Opportunity For Sale

      18,211 SF retail space on 1.4 acres.
      21 E Lincoln Rd, Spokane, WA 99208
      View Details
    • $299,000
      7,108 SF

      Spokane Hand-Wash Car Wash Opportunity

      Established hand-wash car wash business for sale in Spokane.
      324 West Francis Ave, Spokane, WA 99208
      View Details
    • Contact for pricing

      Retail Property For Sale

      Retail property available for purchase in Spokane, Washington.
      6212-6226 N Market St, Spokane, WA 99208
      View Details
    • $99,000
      0.58 Acres

      Spokane Buildable Lot For Sale

      0.58 acre lot ready for your dream home.
      7516 N Walnut St, Spokane, WA 99208
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      3,950 SF

      Retail Space Available For Rent

      Retail space available for lease in Spokane, Washington.
      7414-7458 N Division St, Spokane, WA 99208
      View Details
    • Contact for pricing
      1,920 SF

      Retail Space Available For Rent

      Retail space available for lease in Spokane, Washington.
      6104-6230 N Division St, Spokane, WA 99208
      View Details
    • $2,800 /Mo
      3,960 SF

      Retail Space on N Division

      Retail space with frontage on N Division Street.
      7011 N Division St, Spokane, WA 99208
      View Details
    • Contact for pricing
      160,269 SF

      Retail Space on Division Street

      Large retail space with excellent visibility and ample parking.
      6902 N Division St, Spokane, WA 99208
      View Details
    • $15 SF/Yr
      1,595 SF

      Retail Space Available For Rent

      Retail space available for lease in Spokane, WA.
      1500 E Francis Ave, Spokane, WA 99208
      View Details
    • $22 SF/Yr
      80,138 SF

      Retail Spaces on Division Street

      Retail spaces available for lease on Division Street.
      80-98 Francis Ave, Spokane, WA 99208
      View Details
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    6616 Nevada St
    Spokane, WA 99208-5102
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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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