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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Commercial land
15502 Washington SW Ave Lakewood, WA 98498-2070
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US90-1270286
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1962
Construction
WOOD FRAME
Total area
4,617 SF
Lot
0.26 ac (11,200 SF)
Zoning code
R3
APN
2200000220
UPID
US90-1270286
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$545k
Owner & transaction history
Berkeley At Washington LLC · 18 yrs held
Berkeley At Washington LLC
since 2007
7 recorded transactions
Zoning & alternative use
R3 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Residential district accommodate a range of detached and attached housing types, including middle housing, accessory dwelling units ADUs, and smaller and moderate scale multi family housing
Zone name
Residential 3
General category
RESIDENTIAL
Zone area
2,806.43 ac
Source
Realmo
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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
$118 / 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
Tax year 2024
Assessed value
$3,500
Assessed 2024
Previous assessed
$258,600
-98.6% YoY
Effective rate
0.26%
On assessed value
Assessed land
$3,500
Land market value
$3,500
Total market value
$3,500
Applied tax rate
760.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1962
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Stories
2
Total area
4,617 SF
Lot
0.26 ac (11,200 SF)
Zoning code
R3
APN
2200000220
UPID
US90-1270286
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
R3 · Lakewood, WAZoning R3 · permitted uses
R3 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Residential district accommodate a range of detached and attached housing types, including middle housing, accessory dwelling units ADUs, and smaller and moderate scale multi family housing
Zone name
Residential 3
General category
RESIDENTIAL
Zone area
2,806.43 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1962
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Stories
2
Lot
0.26 ac
Current owner
From public records · entity-resolved
Berkeley At Washington LLC
Entity
Mailing address
PO BOX 47338, OLYMPIA, WA 98504-7338
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2007
$1,022,500
Berkeley At Washington LLC
James J Boyd JR
Warranty Deed
—
Sep 16, 2003
$605,165
James J Boyd
Gum,tr
Grant Deed
$390,000 · Phoenix Savings Bank
Feb 7, 1995
—
Forrest K Coleman
Schmitt,susan M
Quit Claim Deed
related
—
Feb 8, 1993
$635,000
Susan M Schmitt
Unknown
Grant Deed
$609,600 · Seller
Jan 27, 1993
$519,950
Forrest K Coleman
Gum
Grant Deed
$504,400 · Seller
—
—
James J Boyd JR.
—
Deed Of Trust
related
$482,300 · Bel Air & Briney
—
—
James J Boyd JR.
—
Deed Of Trust
related
$432,480 · Bel Air & Briney
—
—
Boyd Islander Apartments LLC
—
Deed Of Trust
related
$255,750 · Bel Air & Briney
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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