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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Retail space
6821 Division St Spokane, WA 99208-3943
Individually Owned
Free & Clear
Property ID
US90-1678763
Property summary
AI-generated overview
This exceptional investment opportunity encompasses two parcels totaling ±0.34 acres located at 6821 N Division St and 6822 N Atlantic St in Spokane, WA, 99208. The combined property offers flexible space ranging from 2,340 to 4,200 square feet, currently vacant and ready for immediate occupancy. With a desirable double corner lot location boasting Division Street frontage, this property presents endless possibilities for redevelopment or owner-user occupancy. The asking price is $700,000, translating to $118.50 per square foot. The property is zoned for retail and industrial uses, making it suitable for a wide range of businesses. APN numbers are 36304.1601 and 36304.1619. The lease type is NNN. This property is an excellent choice for investors seeking a strong return or businesses looking for a strategic location with high visibility. The large lot size provides ample space for expansion or future development. Don't miss this chance to acquire a versatile and well-positioned property in a thriving Spokane market.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,160 SF
Lot
0.15 ac (6,551 SF)
APN
36304.1601
UPID
US90-1678763
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
Current use
Occupant on record · Public records
-
U-Haul Neighborhood Dealer Car Rental Facility
-
16 Cents 3 Shoes & 5 Socks Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$665k
Comparable Approach
Comparable
$539k
Blend (final)
Blend
$615k
Owner & transaction history
Scott Rasche
Scott Rasche
since 2025
Last sale
$630,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$990,000
+3.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$720,000
6.5%
$665,000
7%
$615,000
Alternative Use
Use
Estimation
RETAIL STORES
$960,000
Current use
MEDICAL BUILDING
$990,000
Change: +3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$820,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$615k
Range $554k – $677k · ±10% · vs last sale $630k (Jun 29 2025)
Last sale anchor
$630k
Jun 29 2025
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
$148 / 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
$3,304
Tax year 2023
Assessed value
$336,130
Assessed 2024
Previous assessed
$318,720
+5.5% YoY
Effective rate
0.98%
On assessed value
Assessed land
$170,330
Assessed improvement
$165,800
Land market value
$170,330
Improvement market value
$165,800
Total market value
$336,130
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Total area
4,160 SF
Lot
0.15 ac (6,551 SF)
APN
36304.1601
UPID
US90-1678763
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
RETAIL STORES Current
Est. value
$960,000
MEDICAL BUILDING
Est. value
$990,000
AUTO REPAIR, GARAGE
Est. value
$820,000
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Scott Rasche
Individual
Free & Clear · 0 yrs held
Mailing address
915 W 2ND AVE, SPOKANE, WA 99201-4501
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2025
—
Scott Rasche
Bessie Vassiliki Rasche
Deed
related
—
Sep 29, 2025
$630,000
Scott Rasche
North Division Project LLC
Warranty Deed
—
Jul 17, 2024
—
North Division Project LLC
—
Deed
related
—
Oct 25, 2021
$665,000
North Divison Project LLC
Patty S Murphy
Warranty Deed
$508,500 · Riverbank
Oct 18, 2007
—
Weston Living Trust
Weston,helen A
Quit Claim Deed
related
—
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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