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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9221 Division St Spokane, WA 99218

    • Office buildings
    • 3,480 SF
    • 0.08 lot acres
    For Lease
    View listing
    $23 SF/Yr
    Value Estimations
    $420,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3282734
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Farmers Insurance - Frederick Seidel / Home Insurance Agency / Life Insurance Agency
    • Mountain Real Estate / Real Estate Agency
    • Frontier Northwest Land Co / Real Estate Agency
    • Megan Birr at Mountain Real Estate / Real Estate Agent
    • Vantage Point Title WA office / Insurance Agency

    Property Details for 9221 Division St

    Year built
    1973
    Lot size
    0.08 lot acres
    Property size
    3,480 SF
    Property type
    Office buildings
    APN
    36191.9143
    APU
    361919143

    Description

    This exceptional 8,000 square foot professional office building, situated on a 0.42-acre lot in Spokane, Washington, presents a fantastic leasing opportunity. Located at 9221 N Division Street, zip code 99218, this multi-tenant property offers immediate availability with 1,000 square feet of vacant space. The building is conveniently located with great signage opportunities on Division Street and Country Homes Boulevard. Currently, there are two available suites. Suite A boasts approximately 1,000 square feet, featuring a private office, open cubicle space, and a convenient break room. Suite F offers approximately 500 square feet, including one private office and open workspace. Both suites benefit from ample free on-site parking. The property is classified as an office building in Spokane County, Washington, and is ideal for a variety of professional businesses seeking a well-located and functional workspace. The building's total square footage is 8,000 square feet, providing ample space for current and future tenants. This prime location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a strong presence in the Spokane market. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $330,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $505,000
      Market price range: $505k - $1.29M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.412
    Latitude
    47.7411
    CBSA code
    44060
    CBSA name
    SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,272
    $0.00
    $345,800
    $345,800
    -
    $0.00
    $345,800
    $345,800

    Comparable in this City

    • Value Estimation
      $585,000
      5,937 SF

      12906 Addison St

      OFFICE BUILDING • 5,937 SF
      12906 Addison St, Spokane, WA 99218-8204
      View Details
    • Value Estimation
      $2,210,000
      13,029 SF

      1115 Westview Ct

      OFFICE BUILDING • 13,029 SF
      1115 Westview Ct, Spokane, WA 99218
      View Details
    • Value Estimation
      $2,265,000
      11,623 SF

      9921 Nevada St

      OFFICE BUILDING • 11,623 SF
      9921 Nevada St, Spokane, WA 99218-1145
      View Details
    • Value Estimation
      $365,000
      8,590 SF

      9505 Division St

      OFFICE BUILDING • 8,590 SF
      9505 Division St, Spokane, WA 99218-1232
      View Details
    • Value Estimation
      $305,000
      10,724 SF

      10710 Newport Hwy

      OFFICE BUILDING • 10,724 SF
      10710 Newport Hwy, Spokane, WA 99218-1642
      View Details
    • Value Estimation
      $700,000
      13,199 SF

      1111 Westview Ct

      OFFICE BUILDING • 13,199 SF
      1111 Westview Ct, Spokane, WA 99218-1376
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Commercial Retail Land Available

      21.91 acres of land with high visibility and easy access.
      14718 N Newport Hwy, Spokane, WA 99218
      View Details
    • $2,865,000
      14,900 SF

      High-Traffic Spokane Retail Opportunity

      14,900 SF retail building on 3.23-acre lot for sale.
      10505 N Newport Hwy, Spokane, WA 99218
      View Details
    • Contact for pricing

      Land For Sale Spokane

      Land available for sale at 10404 N Newport Hwy, Spokane, WA.
      10404 N Newport Hwy, Spokane, WA 99218
      View Details
    • Contact for pricing
      3,275 SF

      Drive-Thru Restaurant Opportunity

      Second-generation drive-thru restaurant space available.
      9229 N Division St, Spokane, WA 99218
      View Details
    • $459,000

      Northpointe Medical Land: Spokane, WA

      Prime Spokane Medical Land - $459,000
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      View Details
    • Contact for pricing
      0.81 Acres

      Spokane Commercial Land Parcel

      Prime Office Land: Build-to-Suit Available
      0 Addison St, Spokane, WA 99218
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      117,226 SF

      Northpointe Office Building: Spokane, WA

      Modern Spokane Office Space for Lease
      605 Holland Ave, Spokane, WA 99218
      View Details
    • $23 SF/Yr
      8,000 SF

      Spokane Office Building For Lease

      8,000 SF Office Space, 1,000 SF Vacant
      9221 Division St, Spokane, WA 99218
      View Details
    • $8 SF/Yr
      42,756 SF

      Spokane Life Science Lab Space

      Modern lab space, flexible suites available.
      10220 Nevada St, Spokane, WA 99218
      View Details
    • $16 SF/Yr
      1,312 SF

      Spokane Retail/Office Leasing Opportunity

      Prime Spokane location with versatile retail and office space.
      915 E Hawthorne Rd, Spokane, WA 99218
      View Details
    • $20 SF/Yr
      8,281 SF

      Spokane North Side Office Space

      Office space in a well-established commercial and professional corridor.
      1131 E Westview Ct, Spokane, WA 99218
      View Details
    • $27 SF/Yr
      36,410 SF

      Northpointe Professional Building: Office Space For Lease

      Prime Office Space, Multiple Sizes Available
      9425 Nevada St, Spokane, WA 99218
      View Details
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    Spokane, WA 99218
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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