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Property profile & analytics
OFF-MARKET
Estimated value
$4,250,000
Office buildings
908 Howard St Spokane, WA 99201-5010
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0998627
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1906
Total area
18,960 SF
Lot
0.37 ac (16,334 SF)
APN
35181.4411
UPID
US90-0998627
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
-
Cascade Mortgage Loan Service Bank
-
DEA Spokane Land Surveying Land Surveyor Surveyor
-
Sapere Consulting Consultant
-
Ryan S. Bishop Realtor Windermere City Group Real Estate Agency
-
David Evans and Associates, Inc. Consultant Land Surveyor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.46M
Comparable Approach
Comparable
$5.05M
Blend (final)
Blend
$4.25M
Owner & transaction history
Papillon Building LLC · 6 yrs held
Papillon Building LLC
since 2019
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%
$4,825,000
6.5%
$4,455,000
7%
$4,135,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,695,000
Current use
MEDICAL BUILDING
$4,510,000
Change: -4% · Conversion: Easy
RESTAURANT
$4,200,000
Change: -10% · Conversion: Moderate
RETAIL STORES
$4,095,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$4.25M
Range $3.83M – $4.68M · ±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
$224 / 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
$31,826
Tax year 2023
Assessed value
$3,262,810
Assessed 2024
Previous assessed
$2,818,410
+15.8% YoY
Effective rate
0.98%
On assessed value
Assessed land
$147,010
Assessed improvement
$3,115,800
Land market value
$147,010
Improvement market value
$3,115,800
Total market value
$3,262,810
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
1906
Heating
NONE
Stories
3
Bathrooms
2
Total area
18,960 SF
Lot
0.37 ac (16,334 SF)
APN
35181.4411
UPID
US90-0998627
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
$4.7M
MEDICAL BUILDING
Est. value
$4.5M
RESTAURANT
Est. value
$4.2M
RETAIL STORES
Est. value
$4.1M
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
1906
Heating
NONE
Stories
3
Bathrooms
2
Lot
0.37 ac
Current owner
From public records · entity-resolved
Papillon Building LLC
Entity
Mailing address
1516 W RIVERSIDE AVE STE #200, SPOKANE, WA 99201-1240
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
20 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2026
—
Papillon Building LLC
—
Deed
related
$150,000 · Numerica Credit Union
Jan 8, 2024
—
Papillon Building LLC
—
Deed
related
$150,000 · Numerica Cu
May 25, 2023
—
Papillon Building LLC
—
Deed
related
$600,000 · Numerica Cu
Jan 26, 2023
—
Papillon Building LLC
—
Deed
related
$350,000 · Numerica Cu
Mar 29, 2022
—
Papillon Building LLC
—
Deed
related
$3,400,000 · Numerica Cu
Dec 3, 2019
—
Papillon Building LLC
—
Grant Deed
related
$2,195,200 · Numerica Cu
Aug 9, 2019
—
Papillon Building LLC
Jackson,sheldon & Melanie
Quit Claim Deed
related
—
Jul 1, 2019
$1,235,715
Sheldon Jackson
Brooks,william & Christine
Quit Claim Deed
related
—
Jun 27, 2019
—
William Brooks
Az At Sprague LLC
Quit Claim Deed
related
—
Aug 1, 2016
$2,695,000
Vjb LLC
Park Center Building LLC
Warranty Deed
$1,084,911 · Numerica Cu
Mar 14, 2011
—
Park Center Building LLC
—
Deed Of Trust
related
$1,589,738 · Washington Trust Bank
Feb 25, 2011
—
Park Center Buildling LLC
Nichols,jospeh K SR
Quit Claim Deed
related
—
Feb 2, 2011
—
Joseph K Nichols SR.
C 1031 Properties INC
Quit Claim Deed
related
—
Jun 21, 2005
$1,600,000
Park Center Building LLC
Howard Street Land Co LLC
Warranty Deed
$1,935,000 · Washington Trust Bank
May 15, 2000
—
Howard Street LLC
—
Deed Of Trust
related
$35,000,000 · Us Bank NA Ttee
—
—
Howard Street Land Co LLC
—
Deed Of Trust
related
$1,537,500 · Columbia State Bank
—
—
Howard Street Land Co LLC
—
Deed Of Trust
related
$35,000 · Ram International Holding Co
—
—
C & I Co
—
Deed Of Trust
related
$327,500 · Washington Trust Bank
—
—
Park Center Building LLC
—
Deed Of Trust
related
$2,042,500 · State Bk Nw
—
—
Park Center Building LLC
—
Deed Of Trust
related
$1,793,500 · State Bk Nw
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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