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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Warehouses
1355 Boalch NW Ave North Bend, WA 98045
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1562801
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1974
Construction
WOOD
Total area
2,160 SF
Lot
1.87 ac (81,624 SF)
Zoning code
NB
APN
541870-0043
UPID
US90-1562801
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
$1.03M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$856k
Blend (final)
Blend
$940k
Owner & transaction history
North Bend Commercial LLC · 5 yrs held
North Bend Commercial LLC
since 2021
Last sale
$915,000
5 recorded transactions
Zoning & alternative use
NB · North Bend, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+77.7%
Auto repair, garage
$990,000
+60.0%
Medical building
$855,000
+37.7%
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 North Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Bend 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
$985,000
ML approach
$1,025,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$620,000
Current use
COMMERCIAL (GENERAL)
$1,100,000
Change: +78% · Conversion: Difficult
AUTO REPAIR, GARAGE
$990,000
Change: +60% · Conversion: Easy
MEDICAL BUILDING
$855,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$845,000
Change: +37% · Conversion: Moderate
OFFICE BUILDING
$815,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±10% · vs last sale $915k (Feb 24 2021)
Last sale anchor
$915k
Feb 24 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
$435 / 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
$4,931
Tax year 2022
Assessed value
$572,300
Assessed 2022
Previous assessed
$572,300
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$571,300
Assessed improvement
$1,000
Land market value
$571,300
Improvement market value
$1,000
Total market value
$572,300
Applied tax rate
1,925.0000
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
1974
Construction
WOOD
Heating
NONE
Stories
1
Total area
2,160 SF
Lot
1.87 ac (81,624 SF)
Zoning code
NB
APN
541870-0043
UPID
US90-1562801
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NB · North Bend, WA
Zoning NB · permitted uses
NB · North Bend, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Bend. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$620,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$990,000
MEDICAL BUILDING
Est. value
$855,000
RETAIL STORES
Est. value
$845,000
OFFICE BUILDING
Est. value
$815,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE 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
1974
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.87 ac
Current owner
From public records · entity-resolved
North Bend Commercial LLC
Entity
Mailing address
2819 110TH AVE SE, BELLEVUE, WA 98004-7509
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
Feb 24, 2021
$915,000
North Bend Commercial LLC
Eric T Fritch
Warranty Deed
$515,000 · Eric Fritch
Feb 12, 1997
$205,000
Eric T Fritch
Puget Sound Log Scaling & Grad
Grant Deed
$205,000 · Seller
—
—
Eric T Fritch
—
Deed Of Trust
related
$359,000 · Banner Bank
—
—
Eric Fritch
—
Deed Of Trust
related
$349,753 · Towne Bank
—
—
Eric T Fritch
—
Deed Of Trust
related
$323,775 · Banner 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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