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Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Warehouses
182 Otto St, Port Townsend, WA 98368-9765
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1882025
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1998
Total area
14,000 SF
Lot
0.83 ac (36,155 SF)
Zoning code
LI/C
APN
948603801
UPID
US90-1882025
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
$1.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$707k
Blend (final)
Blend
$1.16M
Owner & transaction history
Hub Space LLC · 3 yrs held
Hub Space LLC
since 2022
Last sale
$1.3M
6 recorded transactions
Zoning & alternative use
LI/C · Port Townsend, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.8M
+64.3%
Auto repair, garage
$1.4M
+29.9%
Commercial (general)
$1.3M
+21.4%
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 Port Townsend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Port Townsend 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
$940,000
ML approach
$1,125,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,105,000
Current use
OFFICE BUILDING
$1,815,000
Change: +64% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,435,000
Change: +30% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,340,000
Change: +21% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,030,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±10% · vs last sale $1.28M (Oct 13 2022)
Last sale anchor
$1.28M
Oct 13 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
$83 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$4,835
Tax year 2023
Assessed value
$550,062
Assessed 2023
Previous assessed
$513,651
+7.1% YoY
Effective rate
0.88%
On assessed value
Assessed land
$194,025
Assessed improvement
$356,037
Land market value
$194,025
Improvement market value
$356,037
Total market value
$550,062
Applied tax rate
111.0000
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
1998
Heating
NONE
Bathrooms
2
Total area
14,000 SF
Lot
0.83 ac (36,155 SF)
Zoning code
LI/C
APN
948603801
UPID
US90-1882025
Jurisdiction
JEFFERSON
Zoning & alternative use
LI/C · Port Townsend, WA
Zoning LI/C · permitted uses
LI/C · Port Townsend, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Port Townsend. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1998
Heating
NONE
Bathrooms
2
Lot
0.83 ac
Current owner
From public records · entity-resolved
Hub Space LLC
Entity
Free & Clear · 3 yrs held
Mailing address
27518 PRT GAMBLE RD NE, KINGSTON, WA 98346-9460
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2022
—
Hub Space LLC
—
Deed
related
$768,000 · First Fed Bank
Oct 13, 2022
$1,280,000
Hub Space LLC
Judith K Cavett
Personal Representative Deed
—
Dec 24, 2014
—
Ralph E Ericksen
Ericksen,christal A
Quit Claim Deed
related
—
—
—
Ralph E Ericksen
—
Deed Of Trust
related
$332,793 · First Fed'l S&l Assoc/port Ang
—
—
Ralph E Ericksen
—
Deed Of Trust
related
$75,000 · Frontier Bank
—
—
Ralph E Ericksen
—
Deed Of Trust
related
$425,000 · Frontier Bk
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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