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Property profile & analytics
OFF-MARKET
Estimated value
$1,080,000
Office buildings
12825 1st S Ave Burien, WA 98168-2618
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1360452
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1966
Construction
WOOD
Total area
3,044 SF
Lot
0.39 ac (16,875 SF)
Zoning code
CI
APN
008400-0040
UPID
US90-1360452
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.08M
CAP Approach
CAP
$875k
Comparable Approach
Comparable
$949k
Blend (final)
Blend
$1.08M
Owner & transaction history
Wiggins Building 1st Ave S LLC · 3 yrs held
Wiggins Building 1st Ave S LLC
since 2023
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
CI · Burien, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+43.2%
Auto repair, garage
$1.3M
+16.4%
Retail stores
$1.2M
+13.5%
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 Burien submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burien 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
$1,065,000
ML approach
$1,080,000
CAP Approach
CAP Return
Estimation
6%
$950,000
6.5%
$875,000
7%
$815,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,075,000
Current use
COMMERCIAL (GENERAL)
$1,540,000
Change: +43% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,250,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$1,220,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$1,045,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$900,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $972k – $1.19M · ±10% · vs last sale $1.15M (Apr 19 2023)
Last sale anchor
$1.15M
Apr 19 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
$355 / 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
$7,793
Tax year 2022
Assessed value
$616,900
Assessed 2022
Previous assessed
$616,900
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$316,400
Assessed improvement
$300,500
Land market value
$316,400
Improvement market value
$300,500
Total market value
$616,900
Applied tax rate
932.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1966
Construction
WOOD
Heating
FORCED AIR
Stories
1
Total area
3,044 SF
Lot
0.39 ac (16,875 SF)
Zoning code
CI
APN
008400-0040
UPID
US90-1360452
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CI · Burien, WA
Zoning CI · permitted uses
CI · Burien, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Burien. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$900,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
1966
Construction
WOOD
Heating
FORCED AIR
Stories
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Wiggins Building 1st Ave S LLC
Entity
Mailing address
1015 SW 128TH ST, BURIEN, WA 98146-3127
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
Mar 26, 2025
—
Wiggins Building St Ave LLC
—
Deed
related
$748,000 · Evergreen Business Capital
Apr 19, 2023
$1,150,000
Wiggins Building 1st Ave S LLC
Gerald L Carter
Warranty Deed
$729,351 · Navy FCU
Oct 2, 2019
—
Claudia J Smith
Carter Dorothy T Trust
Quit Claim Deed
related
—
—
—
Carter Dorothy T Trust
—
Deed Of Trust
related
$200,000 · Key Bank NA
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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