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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Office buildings
1512 Thompson Dr Bremerton, WA 98337
Entity Owned
14-yr Hold
Free & Clear
Property ID
US90-1731137
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Total area
3,831 SF
Lot
2.47 ac (107,593 SF)
Zoning code
CITY
APN
142401-2-025-2008
UPID
US90-1731137
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
$895k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$685k
Owner & transaction history
Penn Plazae Storage LLC · 14 yrs held
Penn Plazae Storage LLC
since 2011
3 recorded transactions
Zoning & alternative use
CITY · Bremerton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$975,000
+35.5%
Medical building
$930,000
+28.9%
Retail stores
$725,000
+0.7%
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 Bremerton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bremerton 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%
$970,000
6.5%
$895,000
7%
$830,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$720,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$975,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$930,000
Change: +29% · Conversion: Easy
RETAIL STORES
$725,000
Change: +1% · Conversion: Moderate
AUTO REPAIR, GARAGE
$685,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$685k
Range $617k – $754k · ±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
$179 / 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
$9,138
Tax year 2024
Assessed value
$1,074,060
Assessed 2024
Previous assessed
$1,023,380
+5.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$210,430
Assessed improvement
$863,630
Land market value
$210,430
Improvement market value
$863,630
Total market value
$1,074,060
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1950
Heating
FORCED AIR
Buildings
5
Stories
1
Bathrooms
1
Total area
3,831 SF
Lot
2.47 ac (107,593 SF)
Zoning code
CITY
APN
142401-2-025-2008
UPID
US90-1731137
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Bremerton, WA
Zoning CITY · permitted uses
CITY · Bremerton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bremerton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$720,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$975,000
MEDICAL BUILDING
Est. value
$930,000
RETAIL STORES
Est. value
$725,000
AUTO REPAIR, GARAGE
Est. value
$685,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
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
1950
Heating
FORCED AIR
Stories
1
Buildings
5
Bathrooms
1
Lot
2.47 ac
Current owner
From public records · entity-resolved
Penn Plazae Storage LLC
Entity
Free & Clear · 14 yrs held
Mailing address
1723 PENNSYLVANIA AVE, BREMERTON, WA 98337-1186
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2011
—
Penn Plazae Storage LLC
Mcconkey Family Trust
Warranty Deed
related
—
—
—
Mcconkey F P
—
Deed Of Trust
related
$250,000 · Westsound Bank
—
—
Mcconkey,tr
—
Deed Of Trust
related
$500,000 · Westsound 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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