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Property profile & analytics
OFF-MARKET
Estimated value
$3,335,000
Distribution centers
1108 185th St Shoreline, WA 98133-4002
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US90-1406045
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1987
Construction
STEEL FRAME
Total area
18,136 SF
Lot
1.96 ac (85,464 SF)
Zoning code
TC-2
APN
164350-0150
UPID
US90-1406045
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
$3.93M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.34M
Owner & transaction history
Shoreline City · 17 yrs held
Shoreline City
since 2009
7 recorded transactions
Zoning & alternative use
TC-2 · Shoreline, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Shoreline submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shoreline 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%
$4,260,000
6.5%
$3,930,000
7%
$3,650,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,355,000
Current use
Blend value · Realmo final
$3.34M
Range $3.00M – $3.67M · ±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
$184 / 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
$61,105
Tax year 2022
Assessed value
$4,701,500
Assessed 2022
Previous assessed
$4,701,500
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$4,700,500
Assessed improvement
$1,000
Land market value
$4,700,500
Improvement market value
$1,000
Total market value
$4,701,500
Applied tax rate
2,263.0000
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
1987
Construction
STEEL FRAME
Heating
SPACE
Buildings
2
Stories
1
Total area
18,136 SF
Lot
1.96 ac (85,464 SF)
Zoning code
TC-2
APN
164350-0150
UPID
US90-1406045
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TC-2 · Shoreline, WA
Zoning TC-2 · permitted uses
TC-2 · Shoreline, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shoreline. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$5.4M
WAREHOUSE, STORAGE Current
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
1987
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
2
Lot
1.96 ac
Current owner
From public records · entity-resolved
Shoreline City
Entity
Mailing address
PO BOX 45550, SEATTLE, WA 98145-0550
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2009
—
Shoreline City
Dunn Lumber Co INC
Warranty Deed
—
Jun 22, 2006
—
City Of Shoreline
Dunn Lumber Co INC
Warranty Deed
—
May 3, 2004
—
Dunn Lumber Co
—
Deed Of Trust
related
$3,772,877 · Us Bank NA
Oct 6, 2003
—
Dunn Lumber Co INC
Dunn Lumber Co-richmond Highla
Quit Claim Deed
related
—
Aug 9, 1996
—
Dunn Lumber Co Richmond Highla
Dunn Lumber Co Richmond Highla
Quit Claim Deed
related
—
—
—
Dunn Lumber Co INC
—
Deed Of Trust
related
$3,772,877 · Us Bank NA
—
—
Dunn Lumber Co INC
—
Deed Of Trust
related
$2,769,842 · Us Bank NA
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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