New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,560,000
Drive through restaurants
16615 Pacific S Ave, Spanaway, WA 98387-8297
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0880887
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2015
Construction
WOOD FRAME
Total area
3,259 SF
Lot
1.03 ac (44,693 SF)
Zoning code
MUD
APN
5025001946
UPID
US90-0880887
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
$2.49M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.43M
Blend (final)
Blend
$2.56M
Owner & transaction history
28 Herbert Street LLC · 3 yrs held
28 Herbert Street LLC
since 2023
Last sale
$2.8M
5 recorded transactions
Zoning & alternative use
MUD · 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
Method
Estimation
Statistic approach
$2,325,000
ML approach
$2,490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.56M
Range $2.30M – $2.82M · ±10% · vs last sale $2.78M (Mar 10 2023)
Last sale anchor
$2.78M
Mar 10 2023
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
$786 / 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
$21,631
Tax year 2024
Assessed value
$1,802,300
Assessed 2024
Previous assessed
$1,802,300
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$817,400
Assessed improvement
$984,900
Land market value
$817,400
Improvement market value
$984,900
Total market value
$1,802,300
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2015
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
1
Bathrooms
1
Total area
3,259 SF
Lot
1.03 ac (44,693 SF)
Zoning code
MUD
APN
5025001946
UPID
US90-0880887
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MUD · Spanaway, WA
Zoning MUD · permitted uses
MUD · 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
2015
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
28 Herbert Street LLC
Entity
Mailing address
1044 JACKSON AVE, LONG ISLAND CITY, NY 11101-6363
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 10, 2023
$2,775,000
28 Herbert Street LLC
Hidden Grove Properties LLC
Warranty Deed
—
Mar 10, 2017
$2,784,000
Hidden Grove Properties LLC
Land Of Opportunity LLC
Warranty Deed
—
Mar 10, 2017
$2,620,000
Land Of Opportunity LLC
Bcb West LLC
Grant Deed
related
—
Apr 17, 2015
$2,620,000
Land Of Opportunity LLC
Bcb West LLC
Warranty Deed
—
Feb 7, 2014
$300,000
Bcb West LLC
Rademacher Trust
Warranty Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 16615 Pacific S Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
