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Property profile & analytics
OFF-MARKET
Estimated value
$14,230,000
Warehouses
1323 34th E Ave, Fife, WA 98424-1103
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-1726884
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
54,000 SF
Lot
2.69 ac (117,394 SF)
Zoning code
INDUSTRIAL
APN
320024087
UPID
US90-1726884
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
$10.43M
CAP Approach
CAP
$10.80M
Comparable Approach
Comparable
$18.89M
Blend (final)
Blend
$14.23M
Owner & transaction history
Bpvif V Holdings 22 LLC · 4 yrs held
Bpvif V Holdings 22 LLC
since 2021
Last sale
$14.6M
5 recorded transactions
Zoning & alternative use
INDUSTRIAL · Fife, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$22.9M
+41.5%
Restaurant
$21.1M
+30.7%
Auto repair, garage
$19.9M
+23.3%
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 Fife submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fife 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
$16,165,000
ML approach
$10,425,000
CAP Approach
CAP Return
Estimation
6%
$11,700,000
6.5%
$10,800,000
7%
$10,030,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$16,180,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$22,900,000
Change: +42% · Conversion: Moderate
RESTAURANT
$21,140,000
Change: +31% · Conversion: Difficult
AUTO REPAIR, GARAGE
$19,945,000
Change: +23% · Conversion: Easy
RETAIL STORES
$16,305,000
Change: +1% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$14,215,000
Change: -12% · Conversion: Difficult
MEDICAL BUILDING
$13,215,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$14.23M
Range $12.81M – $15.65M · ±10% · vs last sale $14.55M (Aug 19 2021)
Last sale anchor
$14.55M
Aug 19 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
$264 / 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
$109,476
Tax year 2024
Assessed value
$11,519,100
Assessed 2024
Previous assessed
$11,519,100
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$2,926,300
Assessed improvement
$8,592,800
Land market value
$2,926,300
Improvement market value
$8,592,800
Total market value
$11,519,100
Applied tax rate
66.0000
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
54,000 SF
Lot
2.69 ac (117,394 SF)
Zoning code
INDUSTRIAL
APN
320024087
UPID
US90-1726884
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
INDUSTRIAL · Fife, WA
Zoning INDUSTRIAL · permitted uses
INDUSTRIAL · Fife, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fife. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$16.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$22.9M
RESTAURANT
Est. value
$21.1M
AUTO REPAIR, GARAGE
Est. value
$19.9M
RETAIL STORES
Est. value
$16.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.2M
MEDICAL BUILDING
Est. value
$13.2M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
2.69 ac
Current owner
From public records · entity-resolved
Bpvif V Holdings 22 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1111 BROADWAY STE #1670, OAKLAND, CA 94607-4007
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2021
$14,550,050
Bpvif V Holdings 22 LLC
Simon Johnson Pacific Highway LLC
Warranty Deed
—
Nov 13, 2018
—
Simon Johnson-pacific Highway
—
Loan Modification
related
$2,437,377 · Wells Fargo Bk
Dec 30, 1997
$1,800,000
Simon Johnson-pacific Hi Johnson
Key Bank NA
Grant Deed
$1,800,000 · Wells Fargo Bank
—
—
Simon Johnson-pacific Highway
—
Deed Of Trust
related
$1,610,000 · Wells Fargo Bank
—
—
Simon Johnson-pacific Highway
—
Deed Of Trust
related
$3,900,000 · Wells Fargo 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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