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Property profile & analytics
FOR LEASE
Office buildings
151 S Worthen St Wenatchee, WA 98801
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1994424
For Lease
1 / 2
$26 SF/Yr
151 S Worthen St, Wenatchee, WA 98801
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1994
Total area
9,820 SF
Lot
0.86 ac (37,462 SF)
APN
222003821140
UPID
US90-1994424
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
$3.44M
CAP Approach
CAP
$2.08M
Comparable Approach
Comparable
$3.27M
Blend (final)
Blend
$3.06M
Owner & transaction history
Palisade Capital Holdings LLC · 1 yrs held
Palisade Capital Holdings LLC
since 2025
Last sale
$3.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.2M
+36.2%
Auto repair, garage
$2.6M
+13.2%
Apartment house (5+ units)
$2.5M
+8.3%
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 Wenatchee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wenatchee 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
$3,500,000
ML approach
$3,435,000
CAP Approach
CAP Return
Estimation
6%
$2,255,000
6.5%
$2,080,000
7%
$1,935,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,315,000
Current use
COMMERCIAL (GENERAL)
$3,155,000
Change: +36% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,620,000
Change: +13% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,505,000
Change: +8% · Conversion: Easy
RETAIL STORES
$1,885,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$3.06M
Range $2.75M – $3.37M · ±10% · vs last sale $3.00M (Apr 23 2025)
Last sale anchor
$3.00M
Apr 23 2025
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
$312 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$20,252
Tax year 2023
Assessed value
$2,292,863
Assessed 2022
Previous assessed
$2,130,071
+7.6% YoY
Effective rate
0.88%
On assessed value
Assessed land
$374,616
Assessed improvement
$1,918,247
Land market value
$374,616
Improvement market value
$1,918,247
Total market value
$2,292,863
Applied tax rate
802.0000
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
PROFESSIONAL BUILDING
Status
For Lease
Year built
1994
Heating
NONE
Total area
9,820 SF
Lot
0.86 ac (37,462 SF)
APN
222003821140
UPID
US90-1994424
Jurisdiction
CHELAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
RETAIL STORES
Est. value
$1.9M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1994
Heating
NONE
Lot
0.86 ac
Current owner
From public records · entity-resolved
Palisade Capital Holdings LLC
Entity
Mailing address
PO BOX 695, QUINCY, WA 98848-0695
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2025
—
Palisade Capital Holdings LLC
Greenacres & Worthen St LLC
Quitclaim Deed
related
—
Feb 14, 2025
$3,000,000
Greenacres And Worthen St LLC
Dreger Security LLC
Warranty Deed
—
May 17, 2017
—
Dreger Security LLC
—
Deed
related
$1,369,476 · Peoples Bank
Apr 6, 2010
$2,489,133
Dreger Security LLC
Cetto,timothy E & Janet E
Warranty Deed
—
Jan 15, 2008
$2,195,000
Timothy E Cetto
Park Place Adventures
Warranty Deed
$1,767,787 · Peoples Bank
—
—
Timothy E Cetto
—
Deed Of Trust
related
$32,000 · Peoples Bank & Trust
—
—
Park Place Adventure
—
Deed Of Trust
related
$1,114,540 · Ncw Community 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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