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Property profile & analytics
OFF-MARKET
Estimated value
$13,420,000
Office buildings
901 Monroe St Spokane, WA 99201-2104
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0644520
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1952
Total area
71,471 SF
Lot
1.85 ac (80,575 SF)
APN
35182.0003
UPID
US90-0644520
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
-
Electrical Inspection State Government Office
-
Joseph Elias Counselor Practitioner Service Location
-
State of WA Dept of Labor and Industries Employment Agency
-
David R Hearrean Law Office Law Firm
-
Community Visions Respite Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.80M
Comparable Approach
Comparable
$14.28M
Blend (final)
Blend
$13.42M
Owner & transaction history
Spokane County · 1 yrs held
Spokane County
since 2024
7 recorded transactions
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%
$18,195,000
6.5%
$16,795,000
7%
$15,595,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$17,690,000
Current use
MEDICAL BUILDING
$17,000,000
Change: -4% · Conversion: Easy
RESTAURANT
$15,840,000
Change: -10% · Conversion: Moderate
RETAIL STORES
$15,435,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$13.42M
Range $12.08M – $14.76M · ±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
$188 / 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
$89,957
Tax year 2023
Assessed value
$9,224,580
Assessed 2024
Previous assessed
$7,935,000
+16.3% YoY
Effective rate
0.98%
On assessed value
Assessed land
$725,180
Assessed improvement
$8,499,400
Land market value
$725,180
Improvement market value
$8,499,400
Total market value
$9,224,580
Applied tax rate
12.0000
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
Off-Market
Year built
1952
Heating
NONE
Stories
3
Bathrooms
0
Total area
71,471 SF
Lot
1.85 ac (80,575 SF)
APN
35182.0003
UPID
US90-0644520
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
$17.7M
MEDICAL BUILDING
Est. value
$17.0M
RESTAURANT
Est. value
$15.8M
RETAIL STORES
Est. value
$15.4M
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
RETAIL STORES
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
1952
Heating
NONE
Stories
3
Bathrooms
0
Lot
1.85 ac
Current owner
From public records · entity-resolved
Spokane County
Entity
Mailing address
PO BOX 41468, OLYMPIA, WA 98504-1468
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2024
—
Spokane County
Monroe Court Limited Partnership
Deed
—
Dec 9, 2024
$11,350,000
Spokane County
Monroe Court Limited Partnership LP
Warranty Deed
—
Mar 29, 2024
—
Monroe Court Limited Partnership
—
Deed
related
$253,000 · Aviation Concept LLC
Nov 22, 2023
—
Department Of Enterprise Services
Monroe Court Limited Partnership
Lease
—
May 12, 2022
—
Monroe Court Limited Partnership
—
Deed
related
$150,000 · Gesa Cu
Jan 12, 2022
—
Monroe Court Limited Partnership
Pacific General INC
Quit Claim Deed
related
—
Nov 19, 2021
—
Marcus Dewood Asset Revocable Trust
Pacific General INC
Quit Claim Deed
related
—
Jun 30, 2020
—
Monoc Court Limited Partnership
—
Deed
related
$6,050,000 · Unify Financial FCU
Jul 30, 2018
—
Monroe Court LP
—
Deed
related
$6,100,000 · Iborrow Fin Loan Fund I LP
—
—
Monroe Court LP
—
Deed Of Trust
related
$4,600,000 · Northern Life Insurance Co
—
—
Monroe Court
—
Deed Of Trust
related
$6,700,000 · Riversource Life Insurance
—
—
Monroe Court
—
Deed Of Trust
related
$50,000 · Bank Of Fairfield
—
—
Monroe Court
—
Deed Of Trust
related
$350,000 · Bank Of Fairfield
—
—
Monroe Court LP
—
Deed Of Trust
related
$6,100,000 · Iborrow Fin Loan Fund I LP
—
—
Monroe Court
—
Deed Of Trust
related
$200,602 · American West Bank
—
—
Monroe Court
—
Deed Of Trust
related
$657,478 · American West Bank
—
—
Montoe Court LP
—
Deed Of Trust
related
$369,234 · Key Bank NA
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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