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Property profile & analytics
OFF-MARKET
Commercial land
18227 Pacific S Ave Spanaway, WA 98387-8332
Individually Owned
7-yr Hold
Free & Clear
Property ID
US90-1389420
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1977
Total area
768 SF
Lot
0.15 ac (6,500 SF)
Zoning code
CC
APN
4660000250
UPID
US90-1389420
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
by Request
Owner & transaction history
Kevin Le · 7 yrs held
Kevin Le
since 2018
6 recorded transactions
Zoning & alternative use
CC · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$603
Tax year 2024
Assessed value
$42,600
Assessed 2024
Previous assessed
$42,600
+0.0% YoY
Effective rate
1.42%
On assessed value
Assessed land
$42,600
Land market value
$42,600
Total market value
$42,600
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1977
Heating
BASEBOARD
Stories
1
Bathrooms
1
Total area
768 SF
Lot
0.15 ac (6,500 SF)
Zoning code
CC
APN
4660000250
UPID
US90-1389420
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CC · Spanaway, WA
Zoning CC · permitted uses
CC · 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
1977
Heating
BASEBOARD
Stories
1
Bathrooms
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Kevin Le
Individual
Free & Clear · 7 yrs held
Mailing address
PO BOX 111482, TACOMA, WA 98411-1482
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Sep 14, 2018
$180,000
Kevin Le
First Citizens Bk & Trust Co
Grant Deed
—
—
—
Larry L Pletcher
—
Deed Of Trust
related
$12,000 · North Pacific Bank
—
—
Larry Pletcher
—
Deed Of Trust
related
$55,000 · Individual
—
—
Larry L Pletcher
—
Deed Of Trust
related
$41,460 · North Pacific Bank
—
—
Terry R Asbjornsen
—
Deed Of Trust
related
$580,339 · Venture Bank
—
—
Larry L Pletcher
—
Deed Of Trust
related
$25,000 · North Pacific Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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