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Property profile & analytics
OFF-MARKET
Estimated value
$2,320,000
Turn key restaurants
7640 Division St, Spokane, WA 99208-5614
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0022018
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1979
Total area
5,785 SF
Lot
0.14 ac (6,297 SF)
APN
36292.0031
UPID
US90-0022018
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
-
Old European Restaurant
-
Tony Romas Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$2.32M
Owner & transaction history
Ljkk Olde Europe LLC · 4 yrs held
Ljkk Olde Europe LLC
since 2022
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.2M
+149.1%
Office building
$1.4M
+12.9%
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
by Request
ML approach
$3,215,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,195,000
Change: +149% · Conversion: Difficult
OFFICE BUILDING
$1,445,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$2.32M
Range $2.09M – $2.55M · ±10% · vs last sale $2.50M (Nov 22 2021)
Last sale anchor
$2.50M
Nov 22 2021
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
$401 / 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
$16,917
Tax year 2023
Assessed value
$1,733,720
Assessed 2024
Previous assessed
$1,310,730
+32.3% YoY
Effective rate
0.98%
On assessed value
Assessed land
$163,720
Assessed improvement
$1,570,000
Land market value
$163,720
Improvement market value
$1,570,000
Total market value
$1,733,720
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1979
Heating
NONE
Stories
1
Total area
5,785 SF
Lot
0.14 ac (6,297 SF)
APN
36292.0031
UPID
US90-0022018
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
$3.2M
OFFICE BUILDING
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
OFFICE 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
1979
Heating
NONE
Stories
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Ljkk Olde Europe LLC
Entity
Mailing address
5414 W REGINA LN, SPOKANE, WA 99208-7805
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2022
—
Ljkk Olde Europe LLC
Sevier Legacy LLC
Lease
$1,030,000 · Ameritrust Cdc
Nov 22, 2021
$2,500,000
Sevier Legacy LLC
Hemmat Family LLC
Warranty Deed
$1,322,695 · State Bank Northwest
May 26, 2021
—
Hemmat Family Limited Liability Com
—
Deed
related
$1,120,000 · Kitsap Bank
Dec 19, 2019
—
Hemmat Family LLC
—
Deed
related
—
Apr 28, 2016
$2,030,000
Hemmat Family Limited Liability Com
Northgate Center Pad LLC
Warranty Deed
—
Mar 4, 2015
$875,000
Northgate Center Pad LLC
Cheridan Realty LP
Grant Deed
—
May 3, 2006
$1,200,000
Cheridan Realty LP
Edward A Payne
Warranty Deed
$900,000 · Pnc Bank NA
—
—
Hemmat Family LLC
—
Loan Modification
related
—
—
—
Northgate Center Pad LLC
—
Loan Modification
related
$900,000 · * Other Institutional Lenders
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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