Individually Owned 
For Lease
Contact for pricing
811 W 2Nd Ave, Spokane, WA 99201
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Property summary
AI-generated overview
The Cook Building, located at 811 W 2nd Ave in Spokane, WA, presents a unique investment opportunity. This four-story building offers 22,400 square feet of versatile space, ideal for a variety of commercial uses. The property is zoned DTG (Downtown General), allowing for flexibility in tenant mix. With a minimum divisible space of 320 square feet and a maximum contiguous space of 5,100 square feet, this building caters to businesses of all sizes. The building features attractive ceiling heights ranging from 8 to 15 feet, adding to its appeal. The Cook Building sits on a 0.16-acre lot (7,100 square feet) in the heart of Spokane's downtown area, providing excellent visibility and accessibility. Multiple tenancies are possible, making it suitable for a diverse range of businesses, including executive offices, coworking spaces, medical offices, and creative offices. The property's address is 811 W 2nd Ave, Spokane, WA 99201, and its APN is 35192.2304. This is a rare opportunity to acquire a well-located, multi-use commercial building in a thriving downtown Spokane location. The building is available for sale or lease.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1901
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,446 SF
Lot
0.16 ac (7,100 SF)
APN
35192.2304
UPID
US90-3006184
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician
-
Medical Clinic Alternative Medicine Practice
-
Interior Design Home Decor Store
-
Architect Design
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$405k
CAP Approach
CAP
$870k
Comparable Approach
Comparable
$743k
Blend (final)
Blend
$670k
Owner & transaction history
since 2008
7 recorded transactions
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$670k
Value range
$603k – $737k
±10% around blend
Estimated value / SF
$123 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
50
Income certainty
100
$603k
blend $670k
$737k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,446 SF
Lot area
0.16 ac
Year built
1901
Stories
3
APN
35192.2304
Assessed value
$1,265,250
Annual tax
$12,349
3
Income approach: direct capitalization
Partial preview
Income approach indication
$870k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$940k
@ 6.5% CAP return
$870k
@ 7% CAP return
$805k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$12,349
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$671k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.7 mi away · 5,488 SF
6.0 mi away · 6,000 SF
10.2 mi away · 6,210 SF
20.8 mi away · 4,280 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$670k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 32 sales
$216
-43%
Submarket 212 sales
$230
-47%
County 288 sales
$188
-35%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $123/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.32M
Move the market yield to see immediate price impact.
Value / SF
$610
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$209k
$4.18M
$2.99M
$2.32M
$232k
$4.65M
$3.32M
$2.58M
$256k
$5.11M
$3.65M
$2.84M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$825k
1.1 mi · Nov 2025 · $156/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$12,349
Tax year 2023
Assessed value
$1,265,250
Assessed 2024
Previous assessed
$1,137,300
+11.3% YoY
Effective rate
0.98%
On assessed value
Assessed land
$195,250
Assessed improvement
$1,070,000
Land market value
$195,250
Improvement market value
$1,070,000
Total market value
$1,265,250
Applied tax rate
10.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1901
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Bathrooms
1
Total area
5,446 SF
Lot
0.16 ac (7,100 SF)
APN
35192.2304
UPID
US90-3006184
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1901
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Bathrooms
1
Lot
0.16 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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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