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    9641 Nevada St Spokane, WA 99218

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    9641 Nevada St Spokane, WA 99218

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    • Commercial real estate
    For Sale
    $337,920
    View Listing →
    North Spokane Commercial Land Parcel For Sale
    $337,920
    0.78 Acres

    North Spokane Commercial Land Parcel

    Commercial land parcel in established North Spokane commercial district.

    9641 N Nevada Street, Spokane, WA 99218
    View Listing
    Property ID
    US90-2732542
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 9641 Nevada St

    Property type
    Commercial real estate
    APN
    36174.1615

    Description

    This exceptional 33,792 square foot commercial land parcel presents a unique investment opportunity in Spokane, Washington. Located at 9641 N Nevada St, Spokane, WA 99218, this property boasts a desirable location within Spokane County, offering significant potential for medical-related development. The asking price is $459,000, translating to a land value of $13.58 per square foot. The property's Assessed Parcel Number (APN) is 36174.1615. Given its size and strategic location, this lot is ideally suited for a variety of medical uses, including clinics, medical offices, or related healthcare facilities. The property's ample square footage provides flexibility for design and construction, allowing for the creation of a modern and efficient medical space. This is a rare opportunity to acquire a substantial land parcel in a thriving Spokane neighborhood, primed for development and poised for strong returns. Serious inquiries are encouraged to explore the possibilities of this exceptional property. The property is offered for sale and is ready for immediate consideration.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.397036
    Latitude
    47.74557

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      Prime Commercial Retail Land Available

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      North Spokane Commercial Land Parcel

      Commercial land parcel in established North Spokane commercial district.
      9641 N Nevada St, Spokane, WA 99218
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      Mixed Use Land For Sale

      0.96 acre mixed-use land with highway access.
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      Land For Sale Spokane

      Land available for sale at 10404 N Newport Hwy, Spokane, WA.
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      Prime Commercial Lot on Highway

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      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
    • $337,920

      North Spokane Commercial Land Parcel

      Commercial land parcel in established North Spokane commercial district.
      9641 N Nevada St, Spokane, WA 99218
      View Details
    • Contact for pricing

      Land For Sale Spokane

      Land available for sale at 10404 N Newport Hwy, Spokane, WA.
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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
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    Similar Nearby for Lease

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      Wandermere West Pad Site

      Prime commercial land for lease in Spokane, WA.
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      Commercial Land For Rent

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      Commercial Land For Rent

      Commercial land available for rent, near future residential development.
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      Land For Lease, Spokane

      Land available for lease in North Spokane on Newport Highway.
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      Land Pad Site For Lease

      Land pad site available for lease.
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      Land For Rent Spokane

      Land available for rent in Spokane, Washington.
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    View Listing
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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.

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