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Property profile & analytics
OFF-MARKET
Estimated value
$2,920,000
Retail space
12744 128th St Renton, WA 98059
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0813498
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,279 SF
Lot
0.75 ac (32,670 SF)
Zoning code
CA
APN
102305-9303
UPID
US90-0813498
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
$3.04M
CAP Approach
CAP
$2.13M
Comparable Approach
Comparable
$1.87M
Blend (final)
Blend
$2.92M
Owner & transaction history
Next Cipsis LLC · 3 yrs held
Next Cipsis LLC
since 2023
Last sale
$2.8M
4 recorded transactions
Zoning & alternative use
CA · Renton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.7M
+26.2%
Auto repair, garage
$3.8M
+2.6%
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 Renton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Renton 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
$3,040,000
ML approach
$3,040,000
CAP Approach
CAP Return
Estimation
6%
$2,305,000
6.5%
$2,130,000
7%
$1,975,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,720,000
Current use
COMMERCIAL (GENERAL)
$4,695,000
Change: +26% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,815,000
Change: +3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,290,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$3,280,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$3,190,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$2.92M
Range $2.63M – $3.21M · ±10% · vs last sale $2.80M (Jan 5 2023)
Last sale anchor
$2.80M
Jan 5 2023
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
$315 / 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
$16,833
Tax year 2022
Assessed value
$1,619,300
Assessed 2022
Previous assessed
$1,619,300
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$882,000
Assessed improvement
$737,300
Land market value
$882,000
Improvement market value
$737,300
Total market value
$1,619,300
Applied tax rate
2,145.0000
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
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
9,279 SF
Lot
0.75 ac (32,670 SF)
Zoning code
CA
APN
102305-9303
UPID
US90-0813498
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CA · Renton, WA
Zoning CA · permitted uses
CA · Renton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Renton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.7M
COMMERCIAL (GENERAL)
Est. value
$4.7M
AUTO REPAIR, GARAGE
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.3M
OFFICE BUILDING
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$3.2M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Next Cipsis LLC
Entity
Mailing address
12744 SE 128TH ST, RENTON, WA 98059
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Jan 5, 2023
$2,800,000
Next Cipsis LLC
Byron Frazier
Warranty Deed
$2,310,000 · Mjelde Enterprises LLC
Feb 25, 2021
—
Mjelde Enterprises LLC
Karen L Austin
Intrafamily Transfer
related
—
Jul 1, 2020
$875,000
Byron F Frazier
Patricia L Heinz
Grant Deed
—
Apr 27, 2020
—
Karen L Austin
Eugene W Mjelde
Quit Claim Deed
related
—
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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