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Property profile & analytics
OFF-MARKET
Estimated value
$2,645,000
Office Spaces
19655 1st S Ave Normandy Park, WA 98148-2166
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0984238
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1982
Construction
WOOD
Total area
17,346 SF
Lot
1.2 ac (52,322 SF)
Zoning code
MU
APN
611540-0101
UPID
US90-0984238
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
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.53M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.65M
Owner & transaction history
James Khuan Lee · 8 yrs held
James Khuan Lee
since 2018
6 recorded transactions
Zoning & alternative use
MU · Normandy Park, 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 Normandy Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Normandy Park 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%
$3,815,000
6.5%
$3,525,000
7%
$3,270,000
Blend value · Realmo final
$2.65M
Range $2.38M – $2.91M · ±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
$152 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$36,041
Tax year 2022
Assessed value
$2,752,200
Assessed 2022
Previous assessed
$2,752,200
+0.0% YoY
Effective rate
1.31%
On assessed value
Assessed land
$1,151,000
Assessed improvement
$1,601,200
Land market value
$1,151,000
Improvement market value
$1,601,200
Total market value
$2,752,200
Applied tax rate
1,898.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1982
Construction
WOOD
Heating
FORCED AIR
Stories
2
Total area
17,346 SF
Lot
1.2 ac (52,322 SF)
Zoning code
MU
APN
611540-0101
UPID
US90-0984238
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MU · Normandy Park, WA
Zoning MU · permitted uses
MU · Normandy Park, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Normandy Park. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1982
Construction
WOOD
Heating
FORCED AIR
Stories
2
Lot
1.2 ac
Current owner
From public records · entity-resolved
James Khuan Lee
Individual
Mailing address
PO BOX 358, MERCER ISLAND, WA 98040-0358
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
Jan 23, 2018
$2,600,000
James Khuan Lee
Arrow Lake Plaza LLC
Warranty Deed
$1,820,000 · First Fsla Of Port Angeles
Aug 20, 2007
$2,240,000
Arrow Lake Plaza LLC
Everett G Gould
Warranty Deed
$1,600,000 · Chinatrust Bank USA
Mar 25, 2004
$1,660,000
Gould,tr
Arrow Lake LP
Grant Deed
$660,000 · Arrow Lake LP
Jul 26, 2001
—
Arrow Lake LP
Dimmer,john C
Quit Claim Deed
related
—
—
—
Arrow Lake LP
—
Deed Of Trust
related
$1,000,000 · Key Bank NA
—
—
Alan D Barronian
—
Deed Of Trust
related
$78,000 · Washington Mutual Fsb
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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