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    Property profile & analytics

    6821 N Division St Spokane, WA 99202

    • Retail space
    • 4,160 SF
    • 0.15 lot acres
    For Lease
    View listing
    $3,000 /Mo
    Last Sale
    Jun 29, 2025
    $630,000
    Value Estimations
    Cap Rate Potential
    4.6%
    Retail space
    Location Intelligence
    Property ID
    US90-1678763
    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

    • U-Haul Neighborhood Dealer / Car Rental Facility
    • 16 Cents 3 Shoes & 5 Socks / Furniture & Home Goods

    Property Details for 6821 N Division St

    Year built
    1949
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.15 lot acres
    Property size
    4,160 SF
    Property type
    Retail space
    APN
    36304.1601
    APU
    363041601

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $720,000
      6.5%
      $665,000
      7%
      $615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $538,000
      Market price range: $380k - $1.74M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.412
    Latitude
    47.7203
    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
    $3,304
    $170,330
    $165,800
    $336,130
    -
    $170,330
    $165,800
    $336,130

    Comparable in this City

    • Value Estimation
      $2,760,000
      22,714 SF

      5520 Division St

      RETAIL STORES (PERSONAL SERVICES) • 22,714 SF
      5520 Division St, Spokane, WA 99208-1211
      View Details
    • Value Estimation
      $2,435,000
      20,576 SF

      8108 Division St

      RETAIL STORES (PERSONAL SERVICES) • 20,576 SF
      8108 Division St, Spokane, WA 99208-5712
      View Details
    • Value Estimation
      $2,345,000
      15,684 SF

      8801 Indian Trl Rd

      RETAIL STORES (PERSONAL SERVICES) • 15,684 SF
      8801 Indian Trl Rd, Spokane, WA 99208-6052
      View Details
    • Value Estimation
      $3,475,000
      32,375 SF

      7714 Division St

      RETAIL STORES (PERSONAL SERVICES) • 32,375 SF
      7714 Division St, Spokane, WA 99208
      View Details
    • Value Estimation
      $2,325,000
      6,540 SF

      804 Francis Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,540 SF
      804 Francis Ave, Spokane, WA 99208-3637
      View Details
    • Value Estimation
      $1,475,000
      12,288 SF

      8313 Division St

      RETAIL STORES (PERSONAL SERVICES) • 12,288 SF
      8313 Division St, Spokane, WA 99208-5715
      View Details

    Similar Nearby for Sale

    • $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
    • 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
    • $3,250,000

      Division Street Retail Building For Sale

      Class A retail building on Spokane's premier retail corridor.
      8313 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

    Similar Nearby for Lease

    • $21 SF/Yr
      1,200 SF

      Retail Space Available For Rent

      Retail space available for lease in Spokane, WA.
      6506-6518 N Nevada St, Spokane, WA 99208
      View Details
    • $11 SF/Yr
      23,976 SF

      Retail Space on N Division

      Retail space with ample parking and excellent visibility available for rent.
      7503 N Division St, Spokane, WA 99208
      View Details
    • $21 SF/Yr
      19,000 SF

      Retail Space in Grocery-Anchored Center

      Retail space available in well-established, grocery-anchored shopping center.
      6516 N Nevada St, 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
    • $20 SF/Yr
      7,960 SF

      Retail Space on Division Street

      Retail space for lease with high-traffic Division Street frontage.
      7704 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
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    6821 N Division St
    Spokane, WA 99202
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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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