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    Property profile & analytics

    7511 Freya St Spokane, WA 99217-8004

    • Office buildings
    • 13,824 SF
    • 37.43 lot acres
    OFF-MARKET
    Value Estimations
    $4,805,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1651553
    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

    • Family Foods / Grocery & Convenience Store / Food Market
    • URM Stores Inc Spokane / Distribution Center / Logistics Company
    • URM Convenience / Department Store

    Property Details for 7511 Freya St

    Year built
    1960
    Lot size
    37.43 lot acres
    Property size
    13,824 SF
    Property type
    Office buildings
    APN
    36272.9079
    APU
    362729079

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,520,000
      6.5%
      $3,250,000
      7%
      $3,015,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,140,000
      Market price range: $2.01M - $5.14M
      AI Estimate
      $6,018,000
      Market price range: $2.01M - $6.02M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,460,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $7,630,000
      Change: +121% Conversion: Easy
      MEDICAL BUILDING
      $3,290,000
      Change: -5% Conversion: Easy
      RESTAURANT
      $3,065,000
      Change: -11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.36
    Latitude
    47.7263
    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
    $399,186
    $2,853,380
    $35,931,300
    $38,784,680
    -
    $2,853,380
    $35,931,300
    $38,784,680

    Comparable in this City

    • Value Estimation
      $645,000
      1,680 SF

      8510 Crestline St

      OFFICE BUILDING • 1,680 SF
      8510 Crestline St, Spokane, WA 99217-7718
      View Details
    • Value Estimation
      $3,275,000
      2,439 SF

      4516 Nebraska Ave

      OFFICE BUILDING • 2,439 SF
      4516 Nebraska Ave, Spokane, WA 99217
      View Details
    • Value Estimation by Request
      2,304 SF

      3921 Francis Ave

      OFFICE BUILDING • 2,304 SF
      3921 Francis Ave, Spokane, WA 99217-6534
      View Details
    • Value Estimation
      $8,305,000
      900 SF

      1707 Lyons Ave

      OFFICE BUILDING • 900 SF
      1707 Lyons Ave, Spokane, WA 99217-7539
      View Details
    • Value Estimation
      $905,000
      1,008 SF

      1720 Houston Ave

      OFFICE BUILDING • 1,008 SF
      1720 Houston Ave, Spokane, WA 99217-7540
      View Details
    • Value Estimation by Request
      12.10 Acres

      9603 Morgan Rd

      PROFESSIONAL BUILDING • 12.10 Acres
      9603 Morgan Rd, Spokane, WA 99217-9714
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,500 SF

      Hillyard Warehouse/Office Space For Sale

      Warehouse/office space in Hillyard on N. Market Street and E. Lincolnd Road.
      7810 N Market St, Spokane, WA 99217
      View Details
    • $359,900
      5.70 Acres

      Spokane Land with Existing Well

      5.7 acres of land near Argonne and Bigelow in Spokane.
      Unassigned Address, Spokane, WA 99217
      View Details
    • $399,000
      25.04 Acres

      Spokane Land with Views

      25.04 acres with views, privacy, and trees near amenities.
      E Bigelow Gulch Rd, Spokane, WA 99217
      View Details
    • $50,000
      0.08 Acres

      Light Industrial Lot in Spokane

      0.08-acre light industrial lot with development potential.
      Nna Pinehurst Park Ave, Spokane, WA 99217
      View Details
    • $2,250,000

      Hillyard Industrial Parcels For Sale

      Three heavy industrial parcels in Hillyard, Spokane.
      3633 N Freya St, Spokane, WA 99217
      View Details
    • $140,000
      0.50 Acres

      Half-Acre Northwood View Parcel

      Vacant 0.5-acre parcel in Northwood community with utility access.
      8321 E Black Oak Ln, Spokane, WA 99217
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freya Avenue Flex Space Available

      Versatile flex space ideal for industrial or commercial uses.
      4917 N Freya St, Spokane, WA 99217
      View Details
    • $1.00 SF/Yr

      Spokane Office Space For Rent

      1,500 SF office space available on E. Decatur Ave.
      3707 E Decatur Ave, Spokane, WA 99217
      View Details
    • Contact for pricing

      Fenced Storage Yard For Rent

      Commercial land with great access and future development potential.
      2425 E Magnesium Rd, Spokane, WA 99217
      View Details
    • Contact for pricing

      Available Land for Lease

      4.75 acre lot for lease in Spokane, WA.
      3701 E Francis Ave, Spokane, WA 99217
      View Details
    • $12 SF/Yr
      5,796 SF

      Retail Building on Market Street

      Retail building available for sublease on Market Street.
      4725 N Market St, Spokane, WA 99217
      View Details
    • Contact for pricing
      1,225 SF

      Retail Space on Market Street

      Retail space available for lease on North Market Street.
      4801-4811 N Market St, Spokane, WA 99217
      View Details
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    7511 Freya St
    Spokane, WA 99217-8004
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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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