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Property profile & analytics
OFF-MARKET
Estimated value
$2,455,000
Distribution centers
7518 Market St Spokane, WA 99217-7819
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1485485
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1997
Construction
STEEL FRAME
Total area
6,350 SF
Lot
0.4 ac (17,292 SF)
APN
36272.0213
UPID
US90-1485485
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.46M
Owner & transaction history
Lishu Investments LLC · 4 yrs held
Lishu Investments LLC
since 2022
Last sale
$2.6M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.5M
+352.4%
Office building
$1.6M
+105.0%
Medical building
$1.5M
+94.9%
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
$2,360,000
ML approach
$2,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,505,000
Change: +352% · Conversion: Difficult
OFFICE BUILDING
$1,590,000
Change: +105% · Conversion: Difficult
MEDICAL BUILDING
$1,510,000
Change: +95% · Conversion: Difficult
Blend value · Realmo final
$2.46M
Range $2.21M – $2.70M · ±10% · vs last sale $2.60M (Apr 1 2022)
Last sale anchor
$2.60M
Apr 1 2022
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
$387 / 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
$4,886
Tax year 2023
Assessed value
$468,750
Assessed 2024
Previous assessed
$360,730
+29.9% YoY
Effective rate
1.04%
On assessed value
Assessed land
$47,550
Assessed improvement
$421,200
Land market value
$47,550
Improvement market value
$421,200
Total market value
$468,750
Applied tax rate
401.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1997
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
2
Total area
6,350 SF
Lot
0.4 ac (17,292 SF)
APN
36272.0213
UPID
US90-1485485
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
OFFICE BUILDING
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
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
1997
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
2
Lot
0.4 ac
Current owner
From public records · entity-resolved
Lishu Investments LLC
Entity
Mailing address
7520 N MARKET ST, SPOKANE, WA 99217-5093
Ownership since
2022
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
Apr 1, 2022
$2,595,000
Lishu Investments LLC
William J Dennis
Warranty Deed
$2,076,000 · William J Dennis Etal
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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