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Property profile & analytics
OFF-MARKET
Estimated value
$13,655,000
Warehouses
12117 Pacific SW Hwy, Lakewood, WA 98499-1017
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1434822
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2021
Construction
WOOD FRAME
Total area
69,531 SF
Lot
1.89 ac (82,503 SF)
Zoning code
C1
APN
219114106
UPID
US90-1434822
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
$10.19M
CAP Approach
CAP
$10.03M
Comparable Approach
Comparable
$15.92M
Blend (final)
Blend
$13.66M
Owner & transaction history
Ess Storage Acquisition Sixty Five · 4 yrs held
Ess Storage Acquisition Sixty Five
since 2021
Last sale
$14.5M
6 recorded transactions
Zoning & alternative use
C1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$21.9M
+105.3%
Medical building
$19.1M
+79.2%
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 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
$16,790,000
ML approach
$10,190,000
CAP Approach
CAP Return
Estimation
6%
$10,865,000
6.5%
$10,030,000
7%
$9,310,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$10,650,000
Current use
COMMERCIAL (GENERAL)
$21,870,000
Change: +105% · Conversion: Difficult
MEDICAL BUILDING
$19,085,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$13.66M
Range $12.29M – $15.02M · ±10% · vs last sale $14.50M (Oct 1 2021)
Last sale anchor
$14.50M
Oct 1 2021
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
$196 / 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
$157,772
Tax year 2024
Assessed value
$14,798,300
Assessed 2024
Previous assessed
$14,798,300
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$3,480,400
Assessed improvement
$11,317,900
Land market value
$3,480,400
Improvement market value
$11,317,900
Total market value
$14,798,300
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2021
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
3
Units
889
Total area
69,531 SF
Lot
1.89 ac (82,503 SF)
Zoning code
C1
APN
219114106
UPID
US90-1434822
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C1 · Lakewood, WA
Zoning C1 · permitted uses
C1 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakewood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$10.7M
COMMERCIAL (GENERAL)
Est. value
$21.9M
MEDICAL BUILDING
Est. value
$19.1M
WAREHOUSE, STORAGE Current
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
2021
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
2
Units
889
Lot
1.89 ac
Current owner
From public records · entity-resolved
Ess Storage Acquisition Sixty Five
Individual
Mailing address
PO BOX 71870, SALT LAKE CITY, UT 84171-0870
Ownership since
2021
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
Oct 1, 2021
$14,500,000
Ess Storage Acquisition Sixty Five
Miller Family Holdings LLC
Bargain And Sale Deed
—
Dec 27, 2019
—
Miller Family Holdings LLC
—
Deed
related
$7,840,100 · Peoples Bank
Jun 14, 2018
$980,000
Miller Family Holdings LLC
Hu,jin L
Grant Deed
—
Aug 13, 2014
$500,000
Jin L Hu
Yoon,sang T & Hyun S
Grant Deed
—
Jun 14, 2006
$1,200,000
Sang T Yoon
Lee,min S & Yumi
Warranty Deed
$771,029 · First Heritage Bank
Jan 23, 2006
$900,000
Min-seuk Lee
Holmes,ray & Charlene
Warranty Deed
$728,205 · First Heritage Bank
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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