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Property profile & analytics
OFF-MARKET
Estimated value
$18,895,000
Office buildings
2005 Poplar Way, Issaquah, WA 98027-8985
Entity Owned
Absentee Owner
Free & Clear
Property ID
US90-0899301
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2020
Construction
CONCRETE
Total area
69,352 SF
Lot
1.79 ac (77,939 SF)
Zoning code
UV-R
APN
202406-9104
UPID
US90-0899301
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
$24.83M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.90M
Owner & transaction history
Rowley Properties INC
Rowley Properties INC
since 2025
4 recorded transactions
Zoning & alternative use
UV-R · Issaquah, 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 Issaquah submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Issaquah 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%
$26,895,000
6.5%
$24,830,000
7%
$23,055,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$30,465,000
Current use
MEDICAL BUILDING
$27,395,000
Change: -10% · Conversion: Easy
RETAIL STORES
$27,205,000
Change: -11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$26,450,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$18.90M
Range $17.01M – $20.78M · ±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
$272 / 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
$208,811
Tax year 2022
Assessed value
$27,543,300
Assessed 2022
Previous assessed
$27,543,300
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$2,727,800
Assessed improvement
$24,815,500
Land market value
$2,727,800
Improvement market value
$24,815,500
Total market value
$27,543,300
Applied tax rate
1,405.0000
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
2020
Construction
CONCRETE
Heating
CENTRAL
Stories
4
Total area
69,352 SF
Lot
1.79 ac (77,939 SF)
Zoning code
UV-R
APN
202406-9104
UPID
US90-0899301
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
UV-R · Issaquah, WA
Zoning UV-R · permitted uses
UV-R · Issaquah, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Issaquah. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$30.5M
MEDICAL BUILDING
Est. value
$27.4M
RETAIL STORES
Est. value
$27.2M
INDUSTRIAL (GENERAL)
Est. value
$26.5M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2020
Construction
CONCRETE
Heating
CENTRAL
Stories
4
Lot
1.79 ac
Current owner
From public records · entity-resolved
Rowley Properties INC
Entity
Free & Clear · 0 yrs held
Mailing address
1595 NW GILMAN BLVD STE #1, ISSAQUAH, WA 98027-5329
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2025
—
Rowley Properties INC
Portemons LLC
Quitclaim Deed
related
—
Sep 8, 2022
—
Portemons LLC
—
Deed
related
$23,000,000 · Zb NA
Sep 19, 2019
—
Portemons LLC
—
Trustees Deed
related
$27,000 · Commerce Bk/wa
Aug 23, 2019
—
Portemons LLC
Rowley Properties INC
Warranty Deed
—
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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