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    Spokane Valley, WA 99037
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    Property profile & analytics

    Spokane Valley, WA 99037

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    • Office buildings
    • 4,555 SF
    • 0.58 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    Spokane Valley Office Space Available For Lease
    $15 SF/Yr
    9,110 SF

    Spokane Valley Office Space Available

    Office space for lease in Spokane Valley location.

    15407 E Mission Ave, Spokane Valley, WA 99037
    View Listing
    Property ID
    US90-0259233
    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

    • Absolute Smile Design / Dental Office
    • New Horizon Counseling Services / Crisis Center / Medical Clinic
    • Jana Ross, LMHC / Counselor
    • Jan Vetter Counseling / Crisis Center / Medical Clinic
    • Gab Robins / Insurance Agency

    Property Details for Spokane

    Year built
    1984
    Lot size
    0.58 lot acres
    Property size
    4,555 SF
    Property type
    Office buildings
    APN
    45141.0225
    APU
    451410225

    Description

    This exceptional Spokane Valley office property, Interstate Professional Plaza, offers a variety of executive and traditional office spaces for lease. Located at 15407 E Mission Ave, Spokane Valley, WA 99037, this property boasts a total of 9,110 square feet situated on a 0.56-acre lot (24,606 square feet). The property's APN is 45141.0225. Currently, there is 1,077 square feet of vacant space available, divisible into units as small as 396 square feet, with a maximum contiguous space of 681 square feet. The building accommodates multiple tenants. Enjoy convenient on-site parking (4 spaces per 1,000 square feet). This location provides excellent access to Interstate 90 and is surrounded by numerous amenities, including the Mirabeau Park Hotel & Convention Center, Spokane Valley Mall, Walmart, Best Buy, and Barnes & Noble. This is an ideal opportunity for businesses seeking a well-located, functional, and accessible office space in a thriving Spokane Valley commercial area. Contact us today to learn more about leasing options and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $865,000
      6.5%
      $800,000
      7%
      $745,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $463,000
      Market price range: $114k - $770k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $985,000
      Current use
      MEDICAL BUILDING
      $925,000
      Change: -6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.197
    Latitude
    47.6672
    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
    $9,414
    $177,970
    $772,200
    $950,170
    -
    $177,970
    $772,200
    $950,170

    Comparable in this City

    • Value Estimation
      $950,000
      0.27 Acres

      210 Sullivan Rd

      PROFESSIONAL BUILDING • 0.27 Acres
      210 Sullivan Rd, Spokane Valley, WA 99037-9712
      View Details
    • Value Estimation
      $775,000
      8,230 SF

      616 Sullivan Rd

      OFFICE BUILDING • 8,230 SF
      616 Sullivan Rd, Spokane Valley, WA 99037
      View Details
    • Value Estimation
      $2,790,000
      9,953 SF

      15404 Springfield Ave

      OFFICE BUILDING • 9,953 SF
      15404 Springfield Ave, Spokane Valley, WA 99037-8569
      View Details
    • Value Estimation
      $860,000
      2,400 SF

      502 Sullivan Rd

      OFFICE BUILDING • 2,400 SF
      502 Sullivan Rd, Spokane Valley, WA 99037-8837
      View Details
    • Value Estimation
      $535,000
      2,761 SF

      15821 4th Ave

      OFFICE BUILDING • 2,761 SF
      15821 4th Ave, Spokane Valley, WA 99037-7904
      View Details
    • Value Estimation
      $930,000
      1,600 SF

      424 Sullivan Rd

      OFFICE BUILDING • 1,600 SF
      424 Sullivan Rd, Spokane Valley, WA 99037-9732
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      New Multifamily Property in Spokane

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      Spokane Valley Land with Development Potential

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      Veradale Land Building Site

      Gently sloping 0.86 acre lot in Veradale, Washington.
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      1,848 SF

      Land For Sale

      Land available for sale.
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      3,836 SF

      Spokane Valley Land For Sale

      Land available in Spokane Valley, Washington.
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    Similar Nearby for Lease

    • $22 SF/Yr

      Retail/Office Space in Retail Hub

      7,617 SF retail/office space in high-traffic retail hub.
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      View Details
    • Contact for pricing

      Spokane Valley Second Floor Office

      Spacious office space in the heart of Spokane Valley.
      424 S Sullivan Rd, Spokane Valley, WA 99037
      View Details
    • $15 SF/Yr

      Spokane Valley Office Space Available

      Office space for lease in Spokane Valley location.
      Spokane, Valley, WA 99037
      View Details
    • $35 SF/Yr
      24,000 SF

      Spokane Valley Medical/Retail Opportunity

      New construction build-to-suit medical or retail space in Spokane Valley.
      606 N Evergreen Rd, Spokane Valley, WA 99037
      View Details
    • Contact for pricing

      Retail Space in Spokane Valley

      High-visibility retail space in a thriving Spokane Valley shopping destination.
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      View Details
    • $24 SF/Yr
      1,360 SF

      Spokane Valley Retail/Office Space

      Retail or office suites available in Spokane Valley location.
      604 S Sullivan Rd, Spokane Valley, WA 99037
      View Details
    View Listing
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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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