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Property profile & analytics
OFF-MARKET
Turn key restaurants
16117 Park S Ave, Spanaway, WA 98387-8908
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0342952
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1893
Construction
WOOD FRAME
Total area
1,368 SF
Lot
0.55 ac (24,000 SF)
Zoning code
NC
APN
5025005120
UPID
US90-0342952
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
by Request
Owner & transaction history
Michael Metcalf · 8 yrs held
Michael Metcalf
since 2018
6 recorded transactions
Zoning & alternative use
NC · Spanaway, 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 Spanaway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spanaway 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
—
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
$4,524
Tax year 2024
Assessed value
$330,300
Assessed 2024
Previous assessed
$330,300
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$252,700
Assessed improvement
$77,600
Land market value
$252,700
Improvement market value
$77,600
Total market value
$330,300
Applied tax rate
591.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1893
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Units
1
Total area
1,368 SF
Lot
0.55 ac (24,000 SF)
Zoning code
NC
APN
5025005120
UPID
US90-0342952
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NC · Spanaway, WA
Zoning NC · permitted uses
NC · Spanaway, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spanaway. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1893
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Units
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
Michael Metcalf
Individual
Mailing address
PO BOX 4805, SPANAWAY, WA 98387-4053
Ownership since
2018
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
Mar 30, 2022
—
Michael R Metcalf
—
Deed
related
$301,000 · Directions Mortgage INC
Jan 16, 2018
—
Michael Metcalf
Ockfen,carol L
Quit Claim Deed
related
—
Nov 21, 2000
$165,000
Michael R Metcalf
Sensel,irvin E & Shirley J
Grant Deed
$133,956 · Seller
Jul 13, 1989
$135,000
Irvin E Sensel
Unknown
Grant Deed
$48,600 · Seller
—
—
Michael R Metcalf
—
Deed Of Trust
related
$143,686 · Timberland Bank
—
—
Michael R Metcalf
—
Deed Of Trust
related
$140,000 · Harborstone Cu
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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