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Property profile & analytics
OFF-MARKET
Estimated value
$22,415,000
Strip malls
1404 Lk Tapps SE Dr 1416 Auburn, WA 98092-8291
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-0509211
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
67,100 SF
Lot
12.48 ac (543,629 SF)
Zoning code
PUD
APN
520068002
UPID
US90-0509211
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
by Request
CAP Approach
CAP
$25.37M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$22.42M
Owner & transaction history
Lakeland Town Center Edens LLC · 1 yrs held
Lakeland Town Center Edens LLC
since 2025
7 recorded transactions
Zoning & alternative use
PUD · Auburn, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$35.3M
+23.3%
Restaurant
$33.5M
+17.0%
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 Auburn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Auburn 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$27,475,000
6.5%
$25,365,000
7%
$23,550,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$28,600,000
Current use
COMMERCIAL (GENERAL)
$35,255,000
Change: +23% · Conversion: Easy
RESTAURANT
$33,455,000
Change: +17% · Conversion: Difficult
AUTO REPAIR, GARAGE
$23,080,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$22.42M
Range $20.17M – $24.66M · ±10%
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
$334 / 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
$412,061
Tax year 2024
Assessed value
$36,545,400
Assessed 2024
Previous assessed
$36,545,400
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$11,366,200
Assessed improvement
$25,179,200
Land market value
$11,366,200
Improvement market value
$25,179,200
Total market value
$36,545,400
Applied tax rate
740.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
AC.PACKAGE
Buildings
5
Stories
1
Units
1
Total area
67,100 SF
Lot
12.48 ac (543,629 SF)
Zoning code
PUD
APN
520068002
UPID
US90-0509211
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
PUD · Auburn, WA
Zoning PUD · permitted uses
PUD · Auburn, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Auburn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$28.6M
COMMERCIAL (GENERAL)
Est. value
$35.3M
RESTAURANT
Est. value
$33.5M
AUTO REPAIR, GARAGE
Est. value
$23.1M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
5
Units
1
Lot
12.48 ac
Current owner
From public records · entity-resolved
Lakeland Town Center Edens LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1221 MAIN ST STE #1000, COLUMBIA, SC 29201-3255
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2025
—
Lakeland Town Center Edens LLC
Wc Properties Edens LLC
Bargain & Sale Deed
—
Apr 5, 2022
$65,751,257
Wc Properties Edens LLC
Ds Properties 17 LP
Bargain And Sale Deed
$22,201,016 · Prudential Insurance Of America
Mar 10, 2017
—
Ds Properties 17 LP
Ds Lakeland LP
Quit Claim Deed
$33,500,000 · Miscellaneous Ins Co
Mar 12, 2015
$60,205,556
Ds Lakeland LP
Loja Auburn LLC
Warranty Deed
$26,000,000 · Miscellaneous Ins Co
Jun 17, 2011
$45,809,213
Loja Auburn LLC
Lakeland Town Center II LLC
Warranty Deed
—
Jan 24, 2006
—
Evergreen Capital Trust
Lakeland Town Center LLC
Quit Claim Deed
related
$26,700,000 · Citigroup Global Markets Realty Cor
Feb 18, 2003
—
Lakeland Town Center LLC
—
Deed Of Trust
related
$2,650,000 · Us Bank NA
Dec 31, 2002
—
Lakeland Town Center LLC
—
Deed Of Trust
related
$17,335,343 · Us Bank NA
Nov 14, 2001
—
Lakeland Town Center LLC
—
Trustees Deed
related
$19,310,000 · Key Bank NA
Sep 14, 2001
—
T T C LLC
Tucci & Sons INC
Grant Deed
related
—
—
—
Haggen INC
—
Deed Of Trust
related
—
—
—
Ds Lakeland LP
—
Loan Modification
related
$169,375,000 · Miscellaneous Ins Co
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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