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Property profile & analytics
FOR LEASE
Office buildings
707 W 7Th Ave Spokane, WA 99204
Entity Owned
25-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1258197
For Lease
1 / 2
Contact for pricing
707 W 7Th Ave, Spokane, WA 99204
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1903
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,284 SF
Lot
1.55 ac (67,447 SF)
APN
35193.5105
UPID
US90-1258197
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
-
Delaney Jr Samuel W Physician Medical Clinic
-
Polly Carlson M.S. | Mental Health Counselor And Therapist| Psychotherapists in Spokane, WA Psychiatrist Psychologist
-
Live Well (Bike/Boat/Book/etc) Store Cosmetic Store
-
Growth story Medical Clinic
-
Ignacio Counseling, LLC Counselor Family Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.42M
Comparable Approach
Comparable
$2.02M
Blend (final)
Blend
$2.08M
Owner & transaction history
Greenstone Corp · 25 yrs held
Greenstone Corp
since 2000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$2,620,000
6.5%
$2,415,000
7%
$2,245,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,570,000
Current use
MEDICAL BUILDING
$2,445,000
Change: -5% · Conversion: Easy
RETAIL STORES
$2,370,000
Change: -8% · Conversion: Moderate
RESTAURANT
$2,280,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$2.08M
Range $1.87M – $2.28M · ±10%
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
$202 / 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
$14,874
Tax year 2023
Assessed value
$1,524,270
Assessed 2024
Previous assessed
$1,405,070
+8.5% YoY
Effective rate
0.98%
On assessed value
Assessed land
$674,470
Assessed improvement
$849,800
Land market value
$674,470
Improvement market value
$849,800
Total market value
$1,524,270
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1903
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Bathrooms
3
Total area
10,284 SF
Lot
1.55 ac (67,447 SF)
APN
35193.5105
UPID
US90-1258197
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
OFFICE BUILDING Current
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.4M
RETAIL STORES
Est. value
$2.4M
RESTAURANT
Est. value
$2.3M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
RESTAURANT
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
1903
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Bathrooms
3
Lot
1.55 ac
Current owner
From public records · entity-resolved
Greenstone Corp
Entity
Mailing address
1421 N MEADOWWOOD LN STE #200, LIBERTY LAKE, WA 99019-7613
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2000
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2000
—
Greenstone Corp
Marycliff Associates
Quit Claim Deed
related
$1,050,000 · Washington Trust Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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