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Property profile & analytics
OFF-MARKET
Estimated value
$10,515,000
Retail space
1111 Fryar Ave Sumner, WA 98390-1528
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-1628876
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1981
Construction
STEEL FRAME
Total area
32,600 SF
Lot
5.08 ac (221,285 SF)
Zoning code
M1
APN
420243107
UPID
US90-1628876
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
-
Homestead Brew Cafe & Coffee Shop
-
McLendon Hardware Building Supply Hardware & Home Improvement
-
U-Haul Neighborhood Dealer Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.31M
CAP Approach
CAP
$8.36M
Comparable Approach
Comparable
$7.33M
Blend (final)
Blend
$10.52M
Owner & transaction history
Larry A Nelsen · 6 yrs held
Larry A Nelsen
since 2020
Last sale
$10.8M
7 recorded transactions
Zoning & alternative use
M1 · Sumner, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.0M
+50.5%
Commercial (general)
$14.0M
+39.9%
Neighborhood: shopping center
$13.9M
+39.2%
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 Sumner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sumner 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
$14,565,000
ML approach
$11,305,000
CAP Approach
CAP Return
Estimation
6%
$9,055,000
6.5%
$8,360,000
7%
$7,765,000
Alternative Use
Use
Estimation
RETAIL STORES
$9,980,000
Current use
RESTAURANT
$15,020,000
Change: +50% · Conversion: Easy
COMMERCIAL (GENERAL)
$13,965,000
Change: +40% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$13,895,000
Change: +39% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$13,760,000
Change: +38% · Conversion: Difficult
AUTO REPAIR, GARAGE
$11,980,000
Change: +20% · Conversion: Difficult
WAREHOUSE, STORAGE
$9,730,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$9,695,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$10.52M
Range $9.46M – $11.57M · ±10% · vs last sale $10.77M (Feb 20 2020)
Last sale anchor
$10.77M
Feb 20 2020
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
$323 / 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
$42,866
Tax year 2024
Assessed value
$4,150,500
Assessed 2024
Previous assessed
$4,150,500
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$3,165,800
Assessed improvement
$984,700
Land market value
$3,165,800
Improvement market value
$984,700
Total market value
$4,150,500
Applied tax rate
117.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Total area
32,600 SF
Lot
5.08 ac (221,285 SF)
Zoning code
M1
APN
420243107
UPID
US90-1628876
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
M1 · Sumner, WA
Zoning M1 · permitted uses
M1 · Sumner, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sumner. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$10.0M
RESTAURANT
Est. value
$15.0M
COMMERCIAL (GENERAL)
Est. value
$14.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$13.9M
INDUSTRIAL (GENERAL)
Est. value
$13.8M
AUTO REPAIR, GARAGE
Est. value
$12.0M
WAREHOUSE, STORAGE
Est. value
$9.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.7M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
1981
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Lot
5.08 ac
Current owner
From public records · entity-resolved
Larry A Nelsen
Individual
Mailing address
4100 S HOUSTON LEVEE RD, COLLIERVILLE, TN 38017-2294
Ownership since
2020
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
Feb 20, 2020
$10,771,684
Larry A Nelsen
Cnr Sumner Wa Landlord LLC
Bargain And Sale Deed
$3,400,000 · Wells Fargo Bank NA
Feb 20, 2020
—
Central Ntwk Retail Grp LLC
—
Deed
related
—
Apr 10, 2017
$10,706,784
Cnr Sumner Wa Landlord LLC
Tennessee Group LLC
Grant Deed
—
Apr 10, 2017
—
Tennessee Group LLC
Mclendon Hardware INC
Quit Claim Deed
related
—
Apr 10, 2017
$56,000
Central Ntwk Retail Group LLC
Mclendon Hardware INC
Quit Claim Deed
related
—
—
—
Tennessee Group LLC
—
Deed Of Trust
related
$2,232,000 · Columbia State Bank
—
—
Central Ntwk Retail Grp LLC
—
Deed Of Trust
related
—
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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