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Property profile & analytics
OFF-MARKET
Estimated value
$2,335,000
Motels
12701 Pacific SW Hwy 5, Lakewood, WA 98499-1028
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1080573
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1958
Construction
WOOD FRAME
Total area
1,521 SF
Lot
1.55 ac (67,518 SF)
Zoning code
C1
APN
219113100
UPID
US90-1080573
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
-
Biltmore Motel Hotel & Motel
-
Miuky Norman Unemployment Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.34M
Owner & transaction history
Parmar Hospitality LLC · 1 yrs held
Parmar Hospitality LLC
since 2025
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
C1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,200,000
ML approach
$2,170,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.34M
Range $2.10M – $2.57M · ±10% · vs last sale $2.48M (Jan 3 2025)
Last sale anchor
$2.48M
Jan 3 2025
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
$1,535 / 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
$25,305
Tax year 2024
Assessed value
$2,263,800
Assessed 2024
Previous assessed
$2,263,800
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$2,258,800
Assessed improvement
$5,000
Land market value
$2,258,800
Improvement market value
$5,000
Total market value
$2,263,800
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1958
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
5
Stories
1
Units
29
Total area
1,521 SF
Lot
1.55 ac (67,518 SF)
Zoning code
C1
APN
219113100
UPID
US90-1080573
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.
Building & site characteristics
From public records
Year built
1958
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
5
Units
29
Lot
1.55 ac
Current owner
From public records · entity-resolved
Parmar Hospitality LLC
Entity
Mailing address
12701 PACIFIC HWY SW, LAKEWOOD, WA 98499-1028
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2025
$2,480,000
Parmar Hospitality LLC
Choice Hospitality LLC
Warranty Deed
$2,045,000 · Open Bank
Apr 24, 2018
$2,139,719
Choice Hospitality L L C
Kyong Hwa Han
Warranty Deed
$1,653,000 · Pacific City Bank
Apr 13, 2005
—
Kyong H Han
—
Trustees Deed
related
$20,000 · Westside Community Bank
Mar 17, 2004
—
Kyong H Han
Han,jin S & Kyong H
Quit Claim Deed
related
—
Jul 17, 1995
$380,000
Cheong S Kang
Buttnick,jacob G
Grant Deed
$330,000 · Seller
Feb 18, 1992
$298,000
Jacob G Buttnick
Frank,victor
Grant Deed
$200,000 · B & P Invstmt
—
—
Cheong S Kang
—
Deed Of Trust
related
$306,621 · City Bank
—
—
Kyong H Han
—
Deed Of Trust
related
$1,260,000 · Pacific International Bank
—
—
Kyong H Han
—
Deed Of Trust
related
$129,000 · Westside Community Bank
—
—
Jin S Han
—
Deed Of Trust
related
$50,000 · Columbia State Bank
—
—
Jin S Han
—
Deed Of Trust
related
$100,000 · Washington State Bank
—
—
Kyong H Han
—
Deed Of Trust
related
$125,000 · Westside Community Bank
—
—
Kyong H Han
—
Deed Of Trust
related
$871,000 · Westside Community Bank
—
—
Kyong H Han
—
Deed Of Trust
related
$25,000 · Westside Community Bank
—
—
Kyong H Han
—
Deed Of Trust
related
$25,000 · Westside Community Bank
—
—
Jin S Han
—
Deed Of Trust
related
$750,879 · Washington State 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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