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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Parking lots & garages
1651 Wagon Rd Palmer, AK 99645-8949
Entity Owned
4-yr Hold
Property ID
US02-0139043
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1985
Construction
WOOD FRAME
Total area
2,550 SF
Lot
0.94 ac (40,946 SF)
Zoning code
6
APN
2488B03L013
UPID
US02-0139043
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
Tight Knot Construction LLC · 4 yrs held
Tight Knot Construction LLC
since 2022
4 recorded transactions
Zoning & alternative use
6 · Palmer, AK
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$715,000
+24.0%
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 Palmer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palmer 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$575,000
Current use
COMMERCIAL (GENERAL)
$715,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±10%
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
$214 / 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
$1,326
Tax year 2024
Assessed value
$374,200
Assessed 2024
Previous assessed
$374,200
+0.0% YoY
Effective rate
0.35%
On assessed value
Assessed land
$38,000
Assessed improvement
$336,200
Land market value
$38,000
Improvement market value
$336,200
Total market value
$374,200
Applied tax rate
6.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1985
Construction
WOOD FRAME
Heating
GAS
Stories
2
Total area
2,550 SF
Lot
0.94 ac (40,946 SF)
Zoning code
6
APN
2488B03L013
UPID
US02-0139043
Jurisdiction
MATANUSKA-SUSITNA
Zoning & alternative use
6 · Palmer, AK
Zoning 6 · permitted uses
6 · Palmer, AK
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palmer. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$575,000
COMMERCIAL (GENERAL)
Est. value
$715,000
PARKING LOT 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
1985
Construction
WOOD FRAME
Heating
GAS
Stories
2
Lot
0.94 ac
Current owner
From public records · entity-resolved
Tight Knot Construction LLC
Entity
Mailing address
1651 N WAGON RD, PALMER, AK 99645-8949
Mailing matches property
Yes
Owner-occupied
Yes
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2022
—
Tight Knot Construction LLC
Wanda Sternhagen
Personal Representative Deed
$235,076 · Amerisave Mortgage Corp
May 6, 2020
—
Vanessa K Mueller
Paul C Mueller
Quit Claim Deed
related
—
Jul 11, 2017
—
Paul C Mueller
Brooks,dane A
Warranty Deed
$269,950 · Homestate Mtg
Apr 20, 2009
—
Dane A Brooks
Louis L Weibl
Warranty Deed
$164,000 · Alaska USA Mortgage Company LLC
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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