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Property profile & analytics
OFF-MARKET
Estimated value
$2,480,000
Warehouses
16504 64th E St, Sumner, WA 98390-3003
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0745761
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1985
Construction
WOOD FRAME
Total area
3,890 SF
Lot
1.02 ac (44,257 SF)
Zoning code
GC
APN
520301030
UPID
US90-0745761
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
-
Nomad Storage Storage Facility
-
U-Haul Neighborhood Dealer Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.49M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.33M
Blend (final)
Blend
$2.48M
Owner & transaction history
Rex Apartments LLC · 3 yrs held
Rex Apartments LLC
since 2022
Last sale
$2.5M
2 recorded transactions
Zoning & alternative use
GC · Sumner, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+43.6%
Neighborhood: shopping center
$1.7M
+42.8%
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
Method
Estimation
Statistic approach
$2,585,000
ML approach
$2,490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,665,000
Change: +44% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,660,000
Change: +43% · Conversion: Moderate
Blend value · Realmo final
$2.48M
Range $2.23M – $2.73M · ±10% · vs last sale $2.50M (Dec 8 2022)
Last sale anchor
$2.50M
Dec 8 2022
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
$638 / 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
$15,262
Tax year 2024
Assessed value
$1,477,100
Assessed 2024
Previous assessed
$1,477,100
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$878,700
Assessed improvement
$598,400
Land market value
$878,700
Improvement market value
$598,400
Total market value
$1,477,100
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1985
Construction
WOOD FRAME
Heating
NONE
Cooling
NONE
Buildings
5
Stories
1
Units
10
Total area
3,890 SF
Lot
1.02 ac (44,257 SF)
Zoning code
GC
APN
520301030
UPID
US90-0745761
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
GC · Sumner, WA
Zoning GC · permitted uses
GC · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1985
Construction
WOOD FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
5
Units
10
Lot
1.02 ac
Current owner
From public records · entity-resolved
Rex Apartments LLC
Entity
Mailing address
615 W HIGHLAND DR, SEATTLE, WA 98119-3446
Ownership since
2022
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 8, 2022
$2,500,000
Rex Apartments LLC
Morris R Baxter
Warranty Deed
$800,000 · Morris Baxter
—
—
Morris R Baxter
—
Deed Of Trust
related
$163,328 · Puyallup Valley 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.
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