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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Retail properties & Spaces
1538 Olympic N Hwy Shelton, WA 98584-3050
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1449925
Property profile
Verified
Property type
Retail properties & Spaces
Use group
NURSERY, GREENHOUSE, FLORIST
Year built
1996
Construction
FRAME
Total area
5,298 SF
Lot
0.28 ac (12,197 SF)
APN
32018-51-32001
UPID
US90-1449925
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
$830k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$982k
Blend (final)
Blend
$815k
Owner & transaction history
Gk Westbay LLC · 5 yrs held
Gk Westbay LLC
since 2021
Last sale
$790,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+36.2%
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 Shelton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelton 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
$840,000
ML approach
$830,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FARM SUPPLY & EQUIPMENT (COMMERCIAL)
$795,000
Current use
COMMERCIAL (GENERAL)
$1,080,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$815k
Range $734k – $897k · ±10% · vs last sale $790k (Apr 30 2021)
Last sale anchor
$790k
Apr 30 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
$154 / 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
$6,039
Tax year 2023
Assessed value
$613,790
Assessed 2023
Previous assessed
$536,485
+14.4% YoY
Effective rate
0.98%
On assessed value
Assessed land
$25,105
Assessed improvement
$588,685
Land market value
$25,105
Improvement market value
$588,685
Total market value
$613,790
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
Retail properties & Spaces
Use group
NURSERY, GREENHOUSE, FLORIST
Status
Off-Market
Year built
1996
Construction
FRAME
Heating
FORCED AIR
Stories
1
Total area
5,298 SF
Lot
0.28 ac (12,197 SF)
APN
32018-51-32001
UPID
US90-1449925
Jurisdiction
MASON
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
FARM SUPPLY & EQUIPMENT (COMMERCIAL) Current
Est. value
$795,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
FARM SUPPLY & EQUIPMENT (COMMERCIAL) Current
COMMERCIAL (GENERAL)
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
1996
Construction
FRAME
Heating
FORCED AIR
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Gk Westbay LLC
Entity
Mailing address
2610 SE MILE HL DR, PORT ORCHARD, WA 98366-2952
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2021
$790,000
Gk Westbay LLC
John E Howe JR
Warranty Deed
$750,500 · Merrilee Howe
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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