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Property profile & analytics
OFF-MARKET
Estimated value
$30,770,000
Distribution centers
1001 Andover E Park, Tukwila, WA 98188-7615
Individually Owned
2-yr Hold
Free & Clear
Property ID
US90-0940750
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
75,600 SF
Lot
7.2 ac (313,482 SF)
Zoning code
TUC-WP
APN
262304-9019
UPID
US90-0940750
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$34.48M
Blend (final)
Blend
$30.77M
Owner & transaction history
Michael Shanus · 2 yrs held
Michael Shanus
since 2023
Last sale
$30.0M
5 recorded transactions
Zoning & alternative use
TUC-WP · Tukwila, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$39.7M
+77.7%
Commercial (general)
$38.3M
+71.3%
Auto repair, garage
$31.1M
+39.3%
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 Tukwila submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tukwila 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
$28,600,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$22,330,000
Current use
RESTAURANT
$39,675,000
Change: +78% · Conversion: Difficult
COMMERCIAL (GENERAL)
$38,255,000
Change: +71% · Conversion: Difficult
AUTO REPAIR, GARAGE
$31,105,000
Change: +39% · Conversion: Easy
RETAIL STORES
$30,315,000
Change: +36% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$26,810,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$26,715,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$25,995,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$30.77M
Range $27.69M – $33.85M · ±10% · vs last sale $30.00M (Sep 1 2023)
Last sale anchor
$30.00M
Sep 1 2023
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
$407 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$246,093
Tax year 2022
Assessed value
$22,350,300
Assessed 2022
Previous assessed
$22,350,300
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$12,539,200
Assessed improvement
$9,811,100
Land market value
$12,539,200
Improvement market value
$9,811,100
Total market value
$22,350,300
Applied tax rate
2,426.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
3
Stories
1
Total area
75,600 SF
Lot
7.2 ac (313,482 SF)
Zoning code
TUC-WP
APN
262304-9019
UPID
US90-0940750
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TUC-WP · Tukwila, WA
Zoning TUC-WP · permitted uses
TUC-WP · Tukwila, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tukwila. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$22.3M
RESTAURANT
Est. value
$39.7M
COMMERCIAL (GENERAL)
Est. value
$38.3M
AUTO REPAIR, GARAGE
Est. value
$31.1M
RETAIL STORES
Est. value
$30.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$26.8M
OFFICE BUILDING
Est. value
$26.7M
MEDICAL BUILDING
Est. value
$26.0M
WAREHOUSE, STORAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
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
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
3
Lot
7.2 ac
Current owner
From public records · entity-resolved
Michael Shanus
Individual
Free & Clear · 2 yrs held
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2024
—
Lift III Andover LLC
—
Deed
related
$62,500,000 · Pccp Credit Xi Reit Sub Holdco LLC
Sep 1, 2023
—
Michael Shanus
M 3 Properties LLC
Bargain And Sale Deed
—
Sep 1, 2023
$30,000,000
Lift III Andover LLC
Michele Shanus
Bargain And Sale Deed
—
Feb 12, 1998
—
M-3 Properties LLC
Smooke,richard A
Trustees Deed
related
—
Dec 5, 1997
$7,831,000
Richard A Smooke
Wrc Properties INC
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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