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    Property profile & analytics

    9515 Division St Spokane, WA 99218-1231

    • Office buildings
    • 3,200 SF
    • 0.43 lot acres
    OFF-MARKET
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0857494
    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

    • Automated Options / (Bike/Boat/Book/etc) Store / Corporate Office
    • Cordell James PHD / Family Counselor
    • Omlin, Gunning & Associates, P.S. / Financial Advisor
    • Kaminski Robin CPA / Accounting Firm / Tax Preparation
    • Schell / Construction Company / General Contractor

    Property Details for 9515 Division St

    Year built
    1980
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.43 lot acres
    Property size
    3,200 SF
    Property type
    Office buildings
    APN
    36184.2205
    APU
    361842205

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $815,000
      6.5%
      $750,000
      7%
      $700,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $363,000
      Market price range: $137k - $551k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $800,000
      Current use
      MEDICAL BUILDING
      $760,000
      Change: -5% Conversion: Easy
      RETAIL STORES
      $735,000
      Change: -8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.412
    Latitude
    47.7447
    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
    $6,616
    $207,610
    $475,100
    $682,710
    -
    $207,610
    $475,100
    $682,710

    Comparable in this City

    • Value Estimation
      $1,300,000
      5,937 SF

      12906 Addison St

      OFFICE BUILDING • 5,937 SF
      12906 Addison St, Spokane, WA 99218-8204
      View Details
    • Value Estimation
      $2,120,000
      13,029 SF

      1115 Westview Ct

      OFFICE BUILDING • 13,029 SF
      1115 Westview Ct, Spokane, WA 99218
      View Details
    • Value Estimation
      $2,040,000
      11,623 SF

      9921 Nevada St

      OFFICE BUILDING • 11,623 SF
      9921 Nevada St, Spokane, WA 99218-1145
      View Details
    • Value Estimation
      $1,000,000
      8,590 SF

      9505 Division St

      OFFICE BUILDING • 8,590 SF
      9505 Division St, Spokane, WA 99218-1232
      View Details
    • Value Estimation
      $3,025,000
      14,593 SF

      309 Farwell Rd

      OFFICE BUILDING • 14,593 SF
      309 Farwell Rd, Spokane, WA 99218-8210
      View Details
    • Value Estimation
      $1,275,000
      10,630 SF

      9507 Division St

      OFFICE BUILDING • 10,630 SF
      9507 Division St, Spokane, WA 99218-1248
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,271 SF

      Pinewater Plaza Retail and Development

      Retail center, Starbucks, and development parcels in North Spokane.
      10925 N Newport Hwy, Spokane, WA 99218
      View Details
    • Contact for pricing
      14,900 SF

      High-Traffic Spokane Retail Opportunity

      14,900 SF building on 3.23 acres in North Spokane.
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    • $699,000

      Mixed Use Land For Sale

      0.96 acre mixed-use land with highway access.
      105 E Falcon Ave, Spokane, WA 99218
      View Details
    • Contact for pricing

      Prime Commercial Lot on Highway

      Commercial lot suitable for retail, office, or mixed-use development.
      11324 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

    Similar Nearby for Lease

    • Contact for pricing

      Northpoint Medical Building Office Space

      Multi-tenant medical building in North Spokane's Medical Corridor.
      9631 N Nevada St, Spokane, WA 99218
      View Details
    • Contact for pricing

      Mountain View North Office Building

      Multi-tenant office building with executive suites available for rent.
      9505 N Division 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
    • Contact for pricing

      Spokane Office Space For Rent

      5,492 SF office space available for lease in Spokane.
      605 E Holland Ave, Spokane, WA 99218
      View Details
    • Contact for pricing
      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
    • $23 SF/Yr
      2,746 SF

      North Spokane Medical Office Space

      Professional medical building with move-in ready suite available for lease.
      9631 N Nevada St, Spokane, WA 99218
      View Details
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    Spokane, WA 99218-1231
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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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