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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Outlet malls
2001 Lewis St Pasco, WA 99301-4922
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1667663
Property summary
AI-generated overview
This Pasco, WA property at 2001 W Lewis St offers 21,542 square feet of retail and office space in a single-story, 1957-built building situated on 1.09 acres. Currently, 13,000 square feet is available for lease, offering significant flexibility for various uses. The open floor plan allows for adaptable layouts, suitable for retail, flex space, or even a studio. Previous use as retail space highlights its suitability for similar businesses. The property boasts high visibility due to its location on Lewis St and 20th Ave, with traffic counts exceeding 13,000 vehicles. Additional features include 36 parking spaces, ample secure storage (2,800 sq ft) located behind the building, and laydown parking. Suites A & B can be combined to create a larger space of over 13,000 square feet. The property is located in Franklin County, WA, with a 99301 zip code. This prime location and versatile space make it an exceptional opportunity.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1957
Total area
12,076 SF
Lot
1.09 ac (47,480 SF)
APN
119481017
UPID
US90-1667663
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
$740k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$640k
Blend (final)
Blend
$740k
Owner & transaction history
2001lewis LLC · 3 yrs held
2001lewis LLC
since 2023
Last sale
$750,000
2 recorded transactions
Zoning & alternative use
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 Pasco submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasco 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)
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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
$810,000
ML approach
$740,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $750k (Apr 27 2023)
Last sale anchor
$750k
Apr 27 2023
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
$61 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$6,639
Tax year 2021
Assessed value
$880,800
Assessed 2023
Previous assessed
$643,600
+36.9% YoY
Effective rate
0.75%
On assessed value
Assessed land
$590,000
Assessed improvement
$290,800
Land market value
$590,000
Improvement market value
$290,800
Total market value
$880,800
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1957
Heating
SPACE
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
12,076 SF
Lot
1.09 ac (47,480 SF)
APN
119481017
UPID
US90-1667663
Jurisdiction
FRANKLIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1957
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Lot
1.09 ac
Current owner
From public records · entity-resolved
2001lewis LLC
Entity
Mailing address
1226 N MORAIN LOOP APT C, KENNEWICK, WA 99336-1561
Ownership since
2023
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
Apr 27, 2023
$750,000
2001lewis LLC
Raymond D Wattenburger
Warranty Deed
—
Apr 2, 2019
—
Raymond D Wattenburger
—
Deed
related
$75,000 · Banner Bank
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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