17416 Pacific S Ave Spanaway, WA 98387-8263
Entity Owned
2-yr Hold
~
Est. High Equity
Estimated value (blended)
$835k
Range $752k – $919k (±10%)
Implied cap rate
8.20%
In-place · NOI ÷ last sale
Property ID
US90-1134366
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1988
Construction
WOOD FRAME
Total area
4,814 SF
Lot
0.61 ac (26,763 SF)
Zoning code
CC
APN
5025003894
UPID
US90-1134366
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$930k
CAP Approach
CAP
$1.05M
Comparable Approach
Comparable
$885k
Blend (final)
Blend
$835k
Owner & transaction history
since 2023
Last sale
$995,000
6 recorded transactions
Zoning & alternative use
CC · Spanaway, WA
Top alternative use upside
Retail stores
$1.5M
+11.6%
Warehouse, storage
$1.4M
+8.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$835k
Value range
$752k – $919k
±10% around blend
Estimated value / SF
$173 / SF
Confidence
None
1 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
10
$752k
blend $835k
$919k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,814 SF
Lot area
0.61 ac
Year built
1988
Stories
2
APN
5025003894
Assessed value
$779,800
Annual tax
$10,928
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.05M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.14M
@ 6.5% CAP return
$1.05M
@ 7% CAP return
$975k
4
Sales comparison
Partial preview
Sales approach indication
$885k
Weighted, 0 comps · none confidence
Evidence
1 found
County-verified recorded sales
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$835k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 79 sales
$275
-37%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $173/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+12%
vs current-use indication
Warehouse, Storage
Medical Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 1 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
8.20%
Implied, in-place cap rate for this medical office space
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.20%
9.0%
NOI (est.)
$70k *
Last sale · Dec 2023
$995k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$849k
Move the market yield to see immediate price impact.
Value / SF
$176
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
7.70%8.20%8.70%
$63k
$814k
$764k
$721k
$70k
$905k
$849k
$801k
$77k
$995k
$934k
$881k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
1 found
None confidence · county-verified
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$10,928
Tax year 2024
Assessed value
$779,800
Assessed 2024
Previous assessed
$779,800
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$536,000
Assessed improvement
$243,800
Land market value
$536,000
Improvement market value
$243,800
Total market value
$779,800
Applied tax rate
591.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1988
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
AC.PACKAGE
Stories
2
Units
2
Total area
4,814 SF
Lot
0.61 ac (26,763 SF)
Zoning code
CC
APN
5025003894
UPID
US90-1134366
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CC · Spanaway, WAZoning CC · permitted uses
CC · Spanaway, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Construction
WOOD FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
2
Lot
0.61 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CC
Jurisdiction
Spanaway, WA
Recorded code
CC
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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