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Property profile & analytics
OFF-MARKET
Estimated value
$3,100,000
Grocery and convenience stores
114 Alder NW Ave Napavine, WA 98532
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-3210870
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1972
Construction
WOOD
Total area
9,154 SF
Lot
2.59 ac (112,820 SF)
APN
8371002000
UPID
US90-3210870
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.10M
Owner & transaction history
Koenes Investments LLC · 2 yrs held
Koenes Investments LLC
since 2024
Last sale
$3.1M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+41.4%
Apartment house (5+ units)
$1.9M
+25.3%
Office building
$1.9M
+24.5%
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 Napavine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Napavine 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
$3,100,000
ML approach
$3,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,145,000
Change: +41% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,900,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$1,890,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$3.10M
Range $2.79M – $3.41M · ±10% · vs last sale $3.10M (Jan 3 2024)
Last sale anchor
$3.10M
Jan 3 2024
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
$339 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$4,932
Tax year 2023
Assessed value
$740,300
Assessed 2022
Previous assessed
$740,300
+0.0% YoY
Effective rate
0.67%
On assessed value
Assessed land
$338,500
Assessed improvement
$401,800
Land market value
$338,500
Improvement market value
$401,800
Total market value
$740,300
Applied tax rate
50.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1972
Construction
WOOD
Heating
ELECTRIC
Buildings
2
Stories
1
Total area
9,154 SF
Lot
2.59 ac (112,820 SF)
APN
8371002000
UPID
US90-3210870
Jurisdiction
LEWIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
OFFICE 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
1972
Construction
WOOD
Heating
ELECTRIC
Stories
1
Buildings
2
Lot
2.59 ac
Current owner
From public records · entity-resolved
Koenes Investments LLC
Entity
Free & Clear · 2 yrs held
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2024
$3,100,000
Koenes Investments LLC
John D Koenes
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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