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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Commercial real estate
1688 Main St, Freeland, WA 98249
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-1849726
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2007
Total area
4,394 SF
Lot
0.18 ac (7,841 SF)
Zoning code
50
APN
R22911-056-1130
UPID
US90-1849726
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
-
Edward Jones - Financial Advisor Financial Advisor
-
Edward Jones - Financial Advisor: Kristi K Price Financial Advisor
-
Stewart Title Co Title Company
-
Pilates Collective LLC | Pilates Collective - Freeland Gym & Fitness Center
-
Edward Jones - Financial Advisor: Melissa S Cates, AAMS™ Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$721k
Blend (final)
Blend
$850k
Owner & transaction history
Harbor & Main LLC · 8 yrs held
Harbor & Main LLC
since 2017
4 recorded transactions
Zoning & alternative use
50 · Freeland, 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 Freeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Freeland 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
COMMERCIAL (GENERAL)
$1,200,000
Current use
RETAIL STORES
$1,150,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$850k
Range $765k – $935k · ±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
$193 / 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
Property tax & assessments
Assessed value
$1,100,063
Assessed 2023
Previous assessed
$829,847
+32.6% YoY
Assessed land
$79,930
Assessed improvement
$1,020,133
Land market value
$79,930
Improvement market value
$1,020,133
Total market value
$1,100,063
Applied tax rate
760.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2007
Heating
PACKAGE
Cooling
AC.PACKAGE
Rooms
1
Bathrooms
2
Total area
4,394 SF
Lot
0.18 ac (7,841 SF)
Zoning code
50
APN
R22911-056-1130
UPID
US90-1849726
Jurisdiction
ISLAND
Zoning & alternative use
50 · Freeland, WA
Zoning 50 · permitted uses
50 · Freeland, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Freeland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
2007
Heating
PACKAGE
Cooling
Yes
Rooms
1
Bathrooms
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
Harbor & Main LLC
Entity
Mailing address
PO BOX 185, FREELAND, WA 98249-0185
Ownership since
2017
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
Oct 13, 2017
—
Harbor & Main LLC
—
Deed
related
$287,000 · Us Bank NA
Aug 31, 2017
$1,650,000
Harbor & Main LLC
Steven M Myres
Warranty Deed
$287,000 · Us Bank NA
Oct 31, 2006
—
Steven Myres
—
Trustees Deed
related
$571,157 · Whidbey Island Bank
—
—
Steven M Myres
—
Deed Of Trust
related
$1,081,500 · Us Bank Trust Co
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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