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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Drive through restaurants
911 1st St, Cheney, WA 99004-1705
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-1256901
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,950 SF
Lot
0.31 ac (13,500 SF)
APN
13131.3401
UPID
US90-1256901
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$486k
Blend (final)
Blend
$545k
Owner & transaction history
Zips Investments LLC · 20 yrs held
Zips Investments LLC
since 2005
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$710,000
+11.3%
Medical building
$640,000
+0.8%
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 Cheney submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cheney 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$635,000
Current use
OFFICE BUILDING
$710,000
Change: +11% · Conversion: Moderate
MEDICAL BUILDING
$640,000
Change: +1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$560,000
Change: -12% · Conversion: Difficult
RETAIL STORES
$555,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$185 / 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
$4,758
Tax year 2023
Assessed value
$568,700
Assessed 2024
Previous assessed
$460,000
+23.6% YoY
Effective rate
0.84%
On assessed value
Assessed land
$108,000
Assessed improvement
$460,700
Land market value
$108,000
Improvement market value
$460,700
Total market value
$568,700
Applied tax rate
110.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Total area
2,950 SF
Lot
0.31 ac (13,500 SF)
APN
13131.3401
UPID
US90-1256901
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
RESTAURANT Current
Est. value
$635,000
OFFICE BUILDING
Est. value
$710,000
MEDICAL BUILDING
Est. value
$640,000
AUTO REPAIR, GARAGE
Est. value
$560,000
RETAIL STORES
Est. value
$555,000
RESTAURANT Current
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Zips Investments LLC
Entity
Mailing address
911 1ST ST, CHENEY, WA 99004-1705
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2021
—
Zips Investments LLC
—
Deed
related
$500,000 · First Interstate Bank
May 11, 2016
—
Zips Investments LLC
—
Deed
related
$352,238 · Inland Northwest Bk
Jul 7, 2005
—
Zips Investments LLC
Griffin,curtis & Lisa
Warranty Deed
—
Jun 27, 2005
—
Curtis Griffin
Zips A Holding Trust
Warranty Deed
—
Jan 20, 2004
—
Holding Trust
Griffin,curt & Lisa
Grant Deed
related
—
Sep 2, 2003
—
Curtis Griffin
Zips A Holding Trust
Grant Deed
related
—
Oct 22, 1999
—
Zip Trust
Griffin,curtis & Lisa
Grant Deed
related
—
Jan 21, 1999
$540,000
Curtis Grifin
Zips International INC
Grant Deed
$750,154 · Seller
—
—
Zips Investments LLC
—
Deed Of Trust
related
$200,000 · Inland Northwest Bank
—
—
Zips Investments LLC
—
Deed Of Trust
related
$700,000 · Harold M & Barbara A Fettig
—
—
Zips Investments LLC
—
Loan Modification
related
$352,238 · Inland Northwest Bk
—
—
Zips Investments LLC
—
Deed Of Trust
related
$250,000 · Harold M & Barbara A Fettig
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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