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Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Medical Office Space
15610 89th St NW Ct Lakebay, WA 98349-9551
Individually Owned
5-yr Hold
Free & Clear
Property ID
US90-1373590
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1993
Construction
WOOD FRAME
Total area
4,761 SF
Lot
1.8 ac (78,408 SF)
Zoning code
RAC
APN
21015079
UPID
US90-1373590
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
$1.11M
CAP Approach
CAP
$1.04M
Comparable Approach
Comparable
$879k
Blend (final)
Blend
$985k
Owner & transaction history
Community Health Care · 5 yrs held
Community Health Care
since 2020
Last sale
$922,572
2 recorded transactions
Zoning & alternative use
RAC · Lakebay, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+21.1%
Retail stores
$1.5M
+11.6%
Warehouse, storage
$1.4M
+8.7%
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 Lakebay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakebay 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
$1,060,000
ML approach
$1,105,000
CAP Approach
CAP Return
Estimation
6%
$1,125,000
6.5%
$1,040,000
7%
$965,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,305,000
Current use
COMMERCIAL (GENERAL)
$1,585,000
Change: +21% · Conversion: Easy
RETAIL STORES
$1,460,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,420,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±10% · vs last sale $923k (Dec 31 2020)
Last sale anchor
$923k
Dec 31 2020
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
$207 / 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
$914
Tax year 2024
Assessed value
$774,100
Assessed 2024
Previous assessed
$774,100
+0.0% YoY
Effective rate
0.12%
On assessed value
Assessed land
$306,100
Assessed improvement
$468,000
Land market value
$306,100
Improvement market value
$468,000
Total market value
$774,100
Applied tax rate
471.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1993
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Units
1
Total area
4,761 SF
Lot
1.8 ac (78,408 SF)
Zoning code
RAC
APN
21015079
UPID
US90-1373590
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RAC · Lakebay, WA
Zoning RAC · permitted uses
RAC · Lakebay, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakebay. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.4M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1993
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
1
Units
1
Lot
1.8 ac
Current owner
From public records · entity-resolved
Community Health Care
Individual
Free & Clear · 5 yrs held
Mailing address
1148 BROADWAY STE #100, TACOMA, WA 98402-3518
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2020
$922,571
Community Health Care
Key Medical Rental LLC
Warranty Deed
—
Jul 19, 2006
—
Key Medical Rentals LLC
Roes,william F & Ruth
Quit Claim Deed
related
—
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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