Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6616 Thorpe Rd Spokane, WA 99224-5631

    • Distribution centers
    • 10,360 SF
    • 2.87 lot acres
    OFF-MARKET
    Last Sale
    Apr 27, 2021
    Value Estimations
    $380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1908515
    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

    • Distribution centers

    Property Details for 6616 Thorpe Rd

    Year built
    1987
    Construction
    STEEL FRAME
    Lot size
    2.87 lot acres
    Property size
    10,360 SF
    Property type
    Distribution centers
    APN
    25334.0110
    APU
    253340110

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $358,000
      Market price range: $341k - $1.48M

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.506
    Latitude
    47.6145
    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
    $6,371
    $312,940
    $349,700
    $662,640
    -
    $312,940
    $349,700
    $662,640

    Comparable in this City

    • Value Estimation
      $1,500,000
      57,131 SF

      4122 Grv Rd

      DISTRIBUTION WAREHOUSE • 57,131 SF
      4122 Grv Rd, Spokane, WA 99224-5326
      View Details
    • Value Estimation
      $1,400,000
      72,735 SF

      9818 Hallett Rd

      DISTRIBUTION WAREHOUSE • 72,735 SF
      9818 Hallett Rd, Spokane, WA 99224-9748
      View Details
    • Value Estimation
      $590,000
      12,500 SF

      6207 Thorpe Rd

      DISTRIBUTION WAREHOUSE • 12,500 SF
      6207 Thorpe Rd, Spokane, WA 99224-5671
      View Details
    • Value Estimation by Request
      166,834 SF

      4626 Dowdy Rd

      Medical offices • 166,834 SF
      4626 Dowdy Rd, Spokane, WA 99224
      View Details
    • Value Estimation
      $1,345,000
      30,000 SF

      10424 Aero Rd

      DISTRIBUTION WAREHOUSE • 30,000 SF
      10424 Aero Rd, Spokane, WA 99224-9405
      View Details
    • Value Estimation
      $415,000
      6,050 SF

      9721 Flight Dr

      DISTRIBUTION WAREHOUSE • 6,050 SF
      9721 Flight Dr, Spokane, WA 99224-5189
      View Details

    Similar Nearby for Sale

    • $209,900
      1,200 SF

      Spokane Industrial Warehouse Condo

      1,200 SF Warehouse, Vacant, $209,900
      1551 Deer Heights Rd, Spokane, WA 99224
      View Details
    • $2,045,000
      166,834 SF

      Spokane I-90 Commercial Property

      Prime Spokane location, flexible zoning, high visibility.
      4626 Dowdy Rd, Spokane, WA 99224
      View Details
    • $249,900
      1,440 SF

      Spokane Industrial Condo - $249,900

      1,440 SF Warehouse Condo, New Construction
      1551 Deer Heights Rd, Spokane, WA 99224
      View Details
    • $900,000
      5.19 Acres

      Cheney Industrial Land - 5 Acres

      Prime 5-acre industrial lot, Spokane County.
      5800 Thomas Mallen Rd, Cheney, WA 99224
      View Details
    • Contact for pricing

      Spokane Industrial Land Opportunity

      Prime Spokane industrial land – build-to-suit available.
      0 Technology Blvd, Spokane, WA 99224
      View Details
    • $1,299,000
      9,000 SF

      Spokane Commercial Opportunity

      9,000 SF Spokane commercial property on 1.89 acres.
      1611 W Geiger Blvd, Spokane, WA 99224
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      381,340 SF

      Spokane Industrial Campus - 381K SF

      Large industrial space, ideal for manufacturing & distribution.
      1514 Flint Rd, Spokane, WA 99224
      View Details
    • $16 SF/Yr
      20,750 SF

      Thorpe Rd Industrial Flex Space

      Class A Spokane industrial space, multiple suites available.
      5807 Thorpe Rd, Spokane, WA 99224
      View Details
    • $10 SF/Yr
      9,360 SF

      Westbow Industrial Warehouse Space

      9,360 SF Spokane Warehouse - Available 2/1/25
      8579 Westbow Blvd, Spokane, WA 99224
      View Details
    • Contact for pricing
      184,595 SF

      Spokane Warehouse Near Airport

      Move-in ready warehouse with immediate I-90 access.
      10015 W Hallett Rd, Spokane, WA 99224
      View Details
    • $12 SF/Yr
      5,135 SF

      Airway Heights Office/Warehouse Building

      Versatile office/warehouse space with excellent access to transportation routes.
      9718 W Flight Dr, Spokane, WA 99224
      View Details
    • Contact for pricing
      87,780 SF

      Hayford Business Park Leasable Space

      Developing business park with industrial, flex, and office spaces.
      2001 S Hayford Rd, Spokane, WA 99224
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6616 Thorpe Rd
    Spokane, WA 99224-5631
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.