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Property profile & analytics
OFF-MARKET
Estimated value
$1,175,000
Turn key restaurants
9998 Newport Hwy Spokane, WA 99218-1368
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0829578
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2023
Construction
STEEL FRAME
Total area
3,968 SF
Lot
1.27 ac (55,332 SF)
APN
36175.1502
UPID
US90-0829578
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
-
Hops n Drops Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$884k
Blend (final)
Blend
$1.18M
Owner & transaction history
Mtk Newport Hwy LLC · 3 yrs held
Mtk Newport Hwy LLC
since 2022
Last sale
$1.3M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$990,000
+12.9%
Medical building
$945,000
+7.3%
Retail stores
$915,000
+3.9%
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
$1,135,000
ML approach
$1,070,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$880,000
Current use
OFFICE BUILDING
$990,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$945,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$915,000
Change: +4% · Conversion: Easy
AUTO REPAIR, GARAGE
$785,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±10% · vs last sale $1.25M (Aug 24 2022)
Last sale anchor
$1.25M
Aug 24 2022
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
$296 / 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
$10,831
Tax year 2023
Assessed value
$1,209,980
Assessed 2024
Previous assessed
$1,109,750
+9.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$829,980
Assessed improvement
$380,000
Land market value
$829,980
Improvement market value
$380,000
Total market value
$1,209,980
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2023
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
2
Total area
3,968 SF
Lot
1.27 ac (55,332 SF)
APN
36175.1502
UPID
US90-0829578
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
$880,000
OFFICE BUILDING
Est. value
$990,000
MEDICAL BUILDING
Est. value
$945,000
RETAIL STORES
Est. value
$915,000
AUTO REPAIR, GARAGE
Est. value
$785,000
RESTAURANT Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
2023
Construction
STEEL FRAME
Heating
NONE
Stories
1
Bathrooms
2
Lot
1.27 ac
Current owner
From public records · entity-resolved
Mtk Newport Hwy LLC
Entity
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2022
$1,250,000
Mtk Newport Hwy LLC
Robert A Frenken
Warranty Deed
$1,760,000 · Numerica Cu
Nov 8, 2011
—
Spokane Valley Pizza LLC
—
Deed Of Trust
related
$2,325,000 · Wells Fargo Bank
Oct 10, 2011
$870,000
Frenken Trust
San Pablo Acres LLC
Warranty Deed
—
May 31, 2007
$869,969
San Pablo Acres LLC
Nrg Properties LLC
Warranty Deed
$500,000 · Borel Private Bank & Trust Co
Aug 14, 2003
—
Nrg Properties LLC
Northwest-restaurant Group INC
Quit Claim Deed
related
—
Dec 31, 1998
—
Northwest Restaurant Group INC
—
Deed Of Trust
related
$5,600,000 · Bank Of America
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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