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Property profile & analytics
FOR LEASE
Manufacturing properties
205 Otto St, Port Townsend, WA 98368
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US90-1948474
No photos on file
For Lease
$2,250/Mo
205 Otto St, Port Townsend, WA 98368
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Total area
14,959 SF
Lot
1.21 ac (52,708 SF)
Zoning code
LI
APN
986701902
UPID
US90-1948474
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Twenty Two Year LLC
Twenty Two Year LLC
since 2025
Last sale
$2.7M
5 recorded transactions
Zoning & alternative use
LI · Port Townsend, 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 Port Townsend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Port Townsend 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2023Property tax & assessments
Tax year 2023
Tax billed
$7,005
Tax year 2023
Assessed value
$800,842
Assessed 2023
Previous assessed
$777,319
+3.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$164,657
Assessed improvement
$636,185
Land market value
$164,657
Improvement market value
$636,185
Total market value
$800,842
Applied tax rate
111.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Heating
NONE
Total area
14,959 SF
Lot
1.21 ac (52,708 SF)
Zoning code
LI
APN
986701902
UPID
US90-1948474
Jurisdiction
JEFFERSON
Zoning & alternative use
LI · Port Townsend, WA
Zoning LI · permitted uses
LI · Port Townsend, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Port Townsend. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Lot
1.21 ac
Current owner
From public records · entity-resolved
Twenty Two Year LLC
Entity
Mailing address
628 N NORMANDE LN, SEQUIM, WA 98382-5115
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2025
$2,730,755
Twenty Two Year LLC
James D Titterness
Warranty Deed
$2,000,000 · James Titternes
Feb 5, 2007
$70,400
Glen Cove Properties LLC
W E Seton
Warranty Deed
$69,000 · W E Seton
—
—
Glen Cove Properties LLC
—
Deed Of Trust
related
$377,000 · Frontier Bank
—
—
Glen Cove Properties LLC
—
Deed Of Trust
related
$742,632 · Frontier Bank
—
—
Dan Titterness
—
Deed Of Trust
related
$674,578 · Sound Community 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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