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Property profile & analytics
OFF-MARKET
Estimated value
$2,945,000
Drug stores
18820 State Hwy 305th NE Poulsbo, WA 98370-6234
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-2719923
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2014
Total area
14,684 SF
Lot
1.28 ac (55,757 SF)
Zoning code
CITY
APN
232601-1-154-2000
UPID
US90-2719923
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
$2.62M
Comparable Approach
Comparable
$2.43M
Blend (final)
Blend
$2.95M
Owner & transaction history
Kniesche Poulsbo LLC · 6 yrs held
Kniesche Poulsbo LLC
since 2019
3 recorded transactions
Zoning & alternative use
CITY · Poulsbo, 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 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%
$2,835,000
6.5%
$2,620,000
7%
$2,430,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,045,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,745,000
Change: -7% · Conversion: Moderate
OFFICE BUILDING
$3,655,000
Change: -10% · Conversion: Easy
MEDICAL BUILDING
$3,565,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$2.95M
Range $2.65M – $3.24M · ±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
$201 / 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
$50,965
Tax year 2024
Assessed value
$5,850,500
Assessed 2024
Previous assessed
$5,850,320
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$390,070
Assessed improvement
$5,460,430
Land market value
$390,070
Improvement market value
$5,460,430
Total market value
$5,850,500
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2014
Heating
NONE
Stories
1
Total area
14,684 SF
Lot
1.28 ac (55,757 SF)
Zoning code
CITY
APN
232601-1-154-2000
UPID
US90-2719923
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
RETAIL STORES Current
Est. value
$4.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.7M
MEDICAL BUILDING
Est. value
$3.6M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
MEDICAL BUILDING
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
2014
Heating
NONE
Stories
1
Lot
1.28 ac
Current owner
From public records · entity-resolved
Kniesche Poulsbo LLC
Entity
Mailing address
822 COLLEGE AVE UNIT #67, KENTFIELD, CA 94914-5702
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2019
$8,895,000
Kniesche Poulsbo LLC
Hjn Hotels Corp
Grant Deed
$4,500,000 · Miscellaneous Ins Co
Mar 13, 2017
—
Hjn Hotels Corp
—
Deed
related
$4,000,000 · Miscellaneous Ins Co
—
—
Hjn Hotels Corp
—
Deed Of Trust
related
$4,000,000 · Miscellaneous Ins 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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