Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Office buildings
18657 State Hwy 305th NE Poulsbo, WA 98370-8418
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1718001
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1956
Total area
4,428 SF
Lot
0.41 ac (17,860 SF)
Zoning code
CITY
APN
232601-1-090-2007
UPID
US90-1718001
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
$690k
Owner & transaction history
Conlee LLC · 19 yrs held
Conlee LLC
since 2006
5 recorded transactions
Zoning & alternative use
CITY · Poulsbo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.1M
+2.5%
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 Poulsbo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Poulsbo 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
OFFICE BUILDING
$1,105,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,130,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$1,075,000
Change: -2% · Conversion: Easy
WAREHOUSE, STORAGE
$955,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$156 / 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
$6,756
Tax year 2024
Assessed value
$775,600
Assessed 2024
Previous assessed
$775,600
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$241,380
Assessed improvement
$534,220
Land market value
$241,380
Improvement market value
$534,220
Total market value
$775,600
Applied tax rate
415.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1956
Heating
YES
Stories
1
Total area
4,428 SF
Lot
0.41 ac (17,860 SF)
Zoning code
CITY
APN
232601-1-090-2007
UPID
US90-1718001
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Poulsbo, WA
Zoning CITY · permitted uses
CITY · Poulsbo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Poulsbo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$955,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1956
Heating
YES
Stories
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Conlee LLC
Entity
Free & Clear · 19 yrs held
Mailing address
3423 13TH AVE W, SEATTLE, WA 98119-1610
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
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
Oct 20, 2006
—
Conlee LLC
Conlee Investments INC
Quit Claim Deed
related
—
Sep 27, 2004
$900,000
Conlee Investments INC
Sands Of Time LLC
Warranty Deed
$454,100 · Us Bank NA
Aug 22, 2000
—
Sands Of Time LLC
—
Grant Deed
related
$70,000 · Interwest Bank
Nov 15, 1999
$650,000
Sands Of Time LLC
Shin,chil S & Chung J
Grant Deed
$530,000 · Interwest Bank
—
—
Conlee Investments INC
—
Deed Of Trust
related
$376,000 · Rural Housing & Community Dev
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 18657 State Hwy 305th NE?
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.
