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Property profile & analytics
OFF-MARKET
Estimated value
$1,135,000
Office buildings
18870 8th NE Ave Poulsbo, WA 98370-6233
Trust Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0974876
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Total area
6,080 SF
Lot
0.41 ac (17,860 SF)
Zoning code
CITY
APN
232601-1-140-2007
UPID
US90-0974876
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
$1.42M
Comparable Approach
Comparable
$762k
Blend (final)
Blend
$1.14M
Owner & transaction history
Falcon Trust LLC
Falcon Trust LLC
1 recorded transaction
Zoning & alternative use
CITY · Poulsbo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+10.6%
Neighborhood: shopping center
$1.6M
+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%
$1,540,000
6.5%
$1,420,000
7%
$1,320,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,515,000
Current use
RETAIL STORES
$1,675,000
Change: +11% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,550,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$1,475,000
Change: -2% · Conversion: Easy
WAREHOUSE, STORAGE
$1,310,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$1.14M
Range $1.02M – $1.25M · ±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
$187 / 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
$12,718
Tax year 2024
Assessed value
$1,459,930
Assessed 2024
Previous assessed
$1,459,930
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$241,380
Assessed improvement
$1,218,550
Land market value
$241,380
Improvement market value
$1,218,550
Total market value
$1,459,930
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
2004
Heating
NONE
Stories
2
Total area
6,080 SF
Lot
0.41 ac (17,860 SF)
Zoning code
CITY
APN
232601-1-140-2007
UPID
US90-0974876
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
$1.5M
RETAIL STORES
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.3M
OFFICE BUILDING Current
RETAIL STORES
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
2004
Heating
NONE
Stories
2
Lot
0.41 ac
Current owner
From public records · entity-resolved
Falcon Trust LLC
Trust
Mailing address
3220 PT WHITE DR NE, BAINBRIDGE ISLAND, WA 98110-4015
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Falcon Trust LLC
—
Deed Of Trust
related
$293,500 · Kitsap 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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