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Property profile & analytics
OFF-MARKET
Estimated value
$2,085,000
Warehouses
11509 Bridgeport SW Way Lakewood, WA 98499-3041
Entity Owned
Free & Clear
Property ID
US90-1729284
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1968
Construction
WOOD FRAME
Total area
8,564 SF
Lot
1.59 ac (69,304 SF)
Zoning code
PI
APN
219122065
UPID
US90-1729284
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
-
Lakeview Light & Power Electric Utility Company
-
ChargePoint Charging Station Electric Vehicle Charging Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.61M
Comparable Approach
Comparable
$2.04M
Blend (final)
Blend
$2.09M
Owner & transaction history
LAKEVIEW POWER & LIGHT CO
LAKEVIEW POWER & LIGHT CO
Zoning & alternative use
PI · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Public or Institutional zoning district provides for moderate scale and large scale activities relating to the purpose of state and local governmental entities, except for military uses which are separately designated and zoned special districts and semi public institutions providing necessary public services
Zone name
Public Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
759.13 ac
Source
Realmo
Top alternative use upside
Apartment house (5+ units)
$3.3M
+154.3%
Auto repair, garage
$3.2M
+140.9%
Commercial (general)
$2.7M
+105.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,745,000
6.5%
$1,610,000
7%
$1,495,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,310,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,335,000
Change: +154% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,160,000
Change: +141% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,695,000
Change: +105% · Conversion: Difficult
MEDICAL BUILDING
$2,350,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$2.09M
Range $1.88M – $2.29M · ±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
$243 / 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
$28,157
Tax year 2024
Assessed value
$2,394,300
Assessed 2024
Previous assessed
$2,394,300
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$1,201,900
Assessed improvement
$1,192,400
Land market value
$1,201,900
Improvement market value
$1,192,400
Total market value
$2,394,300
Applied tax rate
760.0000
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
1968
Construction
WOOD FRAME
Heating
SPACE
Buildings
4
Stories
1
Total area
8,564 SF
Lot
1.59 ac (69,304 SF)
Zoning code
PI
APN
219122065
UPID
US90-1729284
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
PI · Lakewood, WAZoning PI · permitted uses
PI · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Public or Institutional zoning district provides for moderate scale and large scale activities relating to the purpose of state and local governmental entities, except for military uses which are separately designated and zoned special districts and semi public institutions providing necessary public services
Zone name
Public Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
759.13 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.4M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1968
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Buildings
4
Lot
1.59 ac
Current owner
From public records · entity-resolved
LAKEVIEW POWER & LIGHT CO
Individual
Free & Clear · 0 yrs held
Mailing address
11509 BRIDGEPORT WAY SW, LAKEWOOD, WA 98499-3041
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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