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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
1-yr Hold
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 · 1 yrs held
Rowley Properties INC
since 2025
4 recorded transactions
Zoning & alternative use
UV-R · Issaquah, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to promote to Urban Village Rowley uses
Zone name
Urban Village Rowley
General category
UNKNOWN
Zone area
76.86 ac
Source
Realmo
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, WAZoning 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
Zoning description
The intent of this zone is to promote to Urban Village Rowley uses
Zone name
Urban Village Rowley
General category
UNKNOWN
Zone area
76.86 ac
Source
Realmo
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 · 1 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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