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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Office Spaces
18901 Pacific S Ave Spanaway, WA 98387-8325
Entity Owned
14-yr Hold
Free & Clear
Property ID
US90-3177641
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2016
Construction
WOOD FRAME
Total area
2,960 SF
Lot
5.14 ac (223,898 SF)
Zoning code
CE
APN
319333023
UPID
US90-3177641
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
$1.22M
Blend (final)
Blend
$990k
Owner & transaction history
Suburban Propane LP · 14 yrs held
Suburban Propane LP
since 2011
2 recorded transactions
Zoning & alternative use
CE · Spanaway, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.3M
+28.2%
Auto repair, garage
$1.1M
+10.5%
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 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
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
COMMERCIAL (GENERAL)
$985,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,260,000
Change: +28% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,090,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$905,000
Change: -8% · Conversion: Easy
WAREHOUSE, STORAGE
$885,000
Change: -10% · Conversion: Difficult
MEDICAL BUILDING
$815,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±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
$334 / 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
$34,571
Tax year 2024
Assessed value
$2,367,700
Assessed 2024
Previous assessed
$2,367,700
+0.0% YoY
Effective rate
1.46%
On assessed value
Assessed land
$1,853,000
Assessed improvement
$514,700
Land market value
$1,853,000
Improvement market value
$514,700
Total market value
$2,367,700
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2016
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
3
Stories
1
Units
1
Total area
2,960 SF
Lot
5.14 ac (223,898 SF)
Zoning code
CE
APN
319333023
UPID
US90-3177641
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CE · Spanaway, WA
Zoning CE · permitted uses
CE · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$985,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$905,000
WAREHOUSE, STORAGE
Est. value
$885,000
MEDICAL BUILDING
Est. value
$815,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
2016
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
3
Units
1
Lot
5.14 ac
Current owner
From public records · entity-resolved
Suburban Propane LP
Entity
Free & Clear · 14 yrs held
Mailing address
PO BOX 206, WHIPPANY, NJ 07981-0206
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2011
$1,975,000
Suburban Propane LP
Roy Y Place LLC
Warranty Deed
—
Nov 1, 2002
$900,000
Kenneth L Mclaughlin
S B R Co
Grant Deed
$750,000 · Rollins Trust
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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