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Property profile & analytics
OFF-MARKET
Estimated value
$18,025,000
Retail space
1231 Auburn N Way Auburn, WA 98002-4148
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-1673669
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
104,570 SF
Lot
12.54 ac (546,388 SF)
Zoning code
C3
APN
072105-9004
UPID
US90-1673669
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
-
Barbara J. Philpot, RPH Pharmacy
-
Rite Aid Pharmacy Pharmacy
-
higi Physician
-
Yared Asfaw Pharmacy
-
Ana Martin Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.03M
Owner & transaction history
City Of Auburn · 4 yrs held
City Of Auburn
since 2022
4 recorded transactions
Zoning & alternative use
C3 · Auburn, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$28.7M
+1.0%
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 Auburn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Auburn 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$28,405,000
Current use
WAREHOUSE, STORAGE
$28,690,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$18.03M
Range $16.22M – $19.83M · ±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
$172 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$214,564
Tax year 2022
Assessed value
$18,063,900
Assessed 2022
Previous assessed
$18,063,900
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$7,103,000
Assessed improvement
$10,960,900
Land market value
$7,103,000
Improvement market value
$10,960,900
Total market value
$18,063,900
Applied tax rate
133.0000
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
4
Stories
1
Total area
104,570 SF
Lot
12.54 ac (546,388 SF)
Zoning code
C3
APN
072105-9004
UPID
US90-1673669
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C3 · Auburn, WA
Zoning C3 · permitted uses
C3 · Auburn, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Auburn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$28.4M
WAREHOUSE, STORAGE
Est. value
$28.7M
RETAIL STORES Current
WAREHOUSE, STORAGE
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
4
Lot
12.54 ac
Current owner
From public records · entity-resolved
City Of Auburn
Entity
Free & Clear · 4 yrs held
Mailing address
25 W MAIN ST, AUBURN, WA 98001-4916
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2022
—
City Of Auburn
Kimco L S Limited Partnership
Deed
—
Apr 11, 2007
$24,300,000
Kimco L-s
Pk Sale LLC
Quit Claim Deed
related
—
Nov 16, 2006
$22,024,871
Pk Sale LLC
Pan Pacific Retail Props INC
Grant Deed
—
Jun 19, 1998
$437,250
Glenborough Properties LP
Montbert Associates LP
Grant 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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