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Property profile & analytics
OFF-MARKET
Estimated value
$5,670,000
Warehouses
11302 Steele S St Lakewood, WA 98499-8734
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1061761
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Construction
STEEL FRAME
Total area
11,200 SF
Lot
1.98 ac (86,423 SF)
Zoning code
I1
APN
319071033
UPID
US90-1061761
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
-
ION SIGN GROUP LLC (Bike/Boat/Book/etc) Store Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.40M
Blend (final)
Blend
$5.67M
Owner & transaction history
11302 Sttele Street So LLC · 4 yrs held
11302 Sttele Street So LLC
since 2022
Last sale
$5.7M
6 recorded transactions
Zoning & alternative use
I1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Industrial 1 zoning district provides for regional research, light manufacturing, warehousing, concentrated business or employment parks, and other major regional employment uses
Zone name
Industrial 1
General category
INDUSTRIAL
Zone area
300.90 ac
Source
Realmo
Top alternative use upside
Restaurant
$5.2M
+200.8%
Neighborhood: shopping center
$4.8M
+178.3%
Industrial (general)
$4.7M
+175.6%
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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
$5,895,000
ML approach
$5,765,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$5,160,000
Change: +201% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,775,000
Change: +178% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$4,730,000
Change: +176% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,360,000
Change: +154% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,130,000
Change: +141% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,520,000
Change: +105% · Conversion: Difficult
Blend value · Realmo final
$5.67M
Range $5.10M – $6.24M · ±10% · vs last sale $5.65M (Jun 30 2022)
Last sale anchor
$5.65M
Jun 30 2022
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
$506 / 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
$45,246
Tax year 2024
Assessed value
$3,923,900
Assessed 2024
Previous assessed
$3,923,900
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$1,652,200
Assessed improvement
$2,271,700
Land market value
$1,652,200
Improvement market value
$2,271,700
Total market value
$3,923,900
Applied tax rate
761.0000
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
2000
Construction
STEEL FRAME
Heating
SPACE
Buildings
3
Stories
1
Total area
11,200 SF
Lot
1.98 ac (86,423 SF)
Zoning code
I1
APN
319071033
UPID
US90-1061761
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
I1 · Lakewood, WAZoning I1 · permitted uses
I1 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Industrial 1 zoning district provides for regional research, light manufacturing, warehousing, concentrated business or employment parks, and other major regional employment uses
Zone name
Industrial 1
General category
INDUSTRIAL
Zone area
300.90 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$5.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.8M
INDUSTRIAL (GENERAL)
Est. value
$4.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$4.1M
COMMERCIAL (GENERAL)
Est. value
$3.5M
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2000
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
3
Lot
1.98 ac
Current owner
From public records · entity-resolved
11302 Sttele Street So LLC
Entity
Mailing address
3106 SUMNER TAPPS HWY E STE A, LAKE TAPPS, WA 98391-6716
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2022
$5,650,000
11302 Sttele Street So LLC
Greer Family Ventures LLC
Warranty Deed
—
Jan 16, 2013
—
Greer Family Ventures LLC
Greer,edward O & Clara
Quit Claim Deed
—
Apr 22, 1999
—
Edward O Greer
—
Grant Deed
related
$1,181,000 · Columbia State Bank
Nov 8, 1988
$576,500
Frank G Buonomo
Unknown
Grant Deed
—
—
—
Edward O Greer
—
Deed Of Trust
related
$1,500,000 · Ohio National Life Ins Co
—
—
Greer Family Ventures LLC
—
Deed Of Trust
related
$1,400,000 · Heritage Bk
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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