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Property profile & analytics
OFF-MARKET
Estimated value
$3,000,000
Medical Office Space
9651 Nevada St Spokane, WA 99218-1132
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0340264
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1993
Construction
STEEL FRAME
Total area
10,721 SF
Lot
1.26 ac (54,886 SF)
APN
36174.1602
UPID
US90-0340264
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
-
Donald Stone Ophthalmologist
-
Spokane Eye Clinic - Nevada/Northpointe Optometrist Pediatric Ophthalmologist
-
Jeffrey Colburn Ophthalmologist
-
Andrew Cheek Physician
-
Eric Guglielmo Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.00M
CAP Approach
CAP
$2.13M
Comparable Approach
Comparable
$1.87M
Blend (final)
Blend
$3.00M
Owner & transaction history
Inland Empire Optical LLC · 2 yrs held
Inland Empire Optical LLC
since 2024
Last sale
$3.0M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.7M
+5.2%
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
$3,000,000
ML approach
$3,000,000
CAP Approach
CAP Return
Estimation
6%
$2,310,000
6.5%
$2,130,000
7%
$1,980,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,550,000
Current use
OFFICE BUILDING
$2,680,000
Change: +5% · Conversion: Easy
RETAIL STORES
$2,470,000
Change: -3% · Conversion: Difficult
RESTAURANT
$2,375,000
Change: -7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,120,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$3.00M
Range $2.70M – $3.30M · ±10% · vs last sale $3.00M (Jun 7 2024)
Last sale anchor
$3.00M
Jun 7 2024
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
$280 / 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
$19,004
Tax year 2023
Assessed value
$2,124,120
Assessed 2024
Previous assessed
$2,124,120
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$713,520
Assessed improvement
$1,410,600
Land market value
$713,520
Improvement market value
$1,410,600
Total market value
$2,124,120
Applied tax rate
30.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1993
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
1
Total area
10,721 SF
Lot
1.26 ac (54,886 SF)
APN
36174.1602
UPID
US90-0340264
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
MEDICAL BUILDING Current
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.7M
RETAIL STORES
Est. value
$2.5M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
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
1993
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
1
Lot
1.26 ac
Current owner
From public records · entity-resolved
Inland Empire Optical LLC
Entity
Mailing address
427 S BERNARD ST, SPOKANE, WA 99204-2509
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 7, 2024
$3,000,000
Inland Empire Optical LLC
Youngtwo LLC
Warranty Deed
$2,000,000 · Umpqua Bank
Jan 16, 2019
$1,425,000
Yoguntwo LLC
The Hutton Settlement
Warranty Deed
$1,867,178 · Washington Trust Bank
Oct 16, 2002
$2,300,000
Hutton Settlement
Heart,sacred & Medical
Grant Deed
—
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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