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Property profile & analytics
OFF-MARKET
Estimated value
$1,410,000
Warehouses
1011 Milton Way Milton, WA 98354-8864
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0030939
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,516 SF
Lot
0.49 ac (21,177 SF)
Zoning code
MX
APN
5995000010
UPID
US90-0030939
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
-
Kanon Electric Inc Electrical Service General Contractor
-
Boedeker Garage Door Repair Co. Metal Industry Suppliers
-
Kanon Electric Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.41M
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.41M
Owner & transaction history
Laudas Illum LLC · 8 yrs held
Laudas Illum LLC
since 2018
3 recorded transactions
Zoning & alternative use
MX · Milton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the mixed use town center district is to encourage the development of a compact town center within the city of Milton, in furtherance of the goals of the comprehensive plan. It is envisioned that this town center will contain a mixture of land uses which will promote pedestrian access and small-scale shops and services within walking distance…
Zone name
Mixed Use Town Center District
General category
MIXED_USE
Zone area
13.43 ac
Source
Realmo
Top alternative use upside
Retail stores
$2.3M
+2.6%
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 Milton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milton 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,530,000
6.5%
$1,410,000
7%
$1,310,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,245,000
Current use
RETAIL STORES
$2,300,000
Change: +3% · Conversion: Moderate
MEDICAL BUILDING
$2,065,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±10%
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
$188 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$15,766
Tax year 2024
Assessed value
$1,578,500
Assessed 2024
Previous assessed
$1,578,500
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$376,500
Assessed improvement
$1,202,000
Land market value
$376,500
Improvement market value
$1,202,000
Total market value
$1,578,500
Applied tax rate
79.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
7,516 SF
Lot
0.49 ac (21,177 SF)
Zoning code
MX
APN
5995000010
UPID
US90-0030939
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MX · Milton, WAZoning MX · permitted uses
MX · Milton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the mixed use town center district is to encourage the development of a compact town center within the city of Milton, in furtherance of the goals of the comprehensive plan. It is envisioned that this town center will contain a mixture of land uses which will promote pedestrian access and small-scale shops and services within walking distance of residential areas
Zone name
Mixed Use Town Center District
General category
MIXED_USE
Zone area
13.43 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.2M
RETAIL STORES
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.1M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.49 ac
Current owner
From public records · entity-resolved
Laudas Illum LLC
Entity
Mailing address
1018 122ND AVE E, EDGEWOOD, WA 98372-1431
Ownership since
2018
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
Apr 3, 2018
$149,719
Laudas Illum LLC
Yong K Park
Warranty Deed
$120,000 · Banner Bank
Jun 11, 2007
—
Yong K Park
Hong,julie S
Quit Claim Deed
related
—
Jun 11, 2007
$415,000
Yong K Park
Lois J Klontz
Warranty Deed
$336,142 · Pacific International Bank
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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