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Property profile & analytics
FOR LEASE
Warehouses
1525 45Th St E Sumner, WA 98390
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1729457
For Lease
$2,420,000
1525 45Th St E, Sumner, WA 98390
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,120 SF
Lot
1.59 ac (69,043 SF)
Zoning code
M1
APN
7992000111
UPID
US90-1729457
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
Current use
Occupant on record · Public records
-
Sunset Cement Finishing & Construction Construction Company General Contractor
-
Paint Restoration Car Wash
-
Sumner Auto & Marine Detailing Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.42M
Owner & transaction history
Heyer & Morris Properties LLC · 8 yrs held
Heyer & Morris Properties LLC
since 2017
6 recorded transactions
Zoning & alternative use
M1 · Sumner, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Sumner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sumner 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$134 / 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
$31,800
Tax year 2024
Assessed value
$3,078,800
Assessed 2024
Previous assessed
$3,078,800
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$1,520,700
Assessed improvement
$1,558,100
Land market value
$1,520,700
Improvement market value
$1,558,100
Total market value
$3,078,800
Applied tax rate
117.0000
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
For Lease
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
18,120 SF
Lot
1.59 ac (69,043 SF)
Zoning code
M1
APN
7992000111
UPID
US90-1729457
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
M1 · Sumner, WA
Zoning M1 · permitted uses
M1 · Sumner, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sumner. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
1.59 ac
Current owner
From public records · entity-resolved
Heyer & Morris Properties LLC
Entity
Mailing address
280 PARK AVE, NEW YORK, NY 10017-1274
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2025
—
Blusv I Wa 1525 45th Street East Ll
—
Deed
related
$354,550,000 · Incref Investments Ms Seller LLC
Jul 6, 2022
—
Blusv I Wa 1525 45th Street East Ll
—
Deed
related
$94,537,680 · Pgim Real Estate Us Debt Fund Reit LLC
Nov 15, 2017
—
Heyer & Morris Properties LLC
2003 Heyer Inv Props LLC
Quit Claim Deed
—
Apr 30, 2002
$1,254,875
Heyer & Morris Properties LLC
Auburn Commercial Dev INC
Grant Deed
$1,080,000 · Olympic Bank
—
—
Auburn Commercial Development
—
Deed Of Trust
related
$870,000 · Executive House INC
—
—
Heyer & Morris Properties LLC
—
Deed Of Trust
related
$1,200,000 · Kitsap 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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