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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Retail space
21121 Wellesley Ave Otis Orchards, WA 99027-9655
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US90-0081388
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1977
Total area
8,050 SF
Lot
1.81 ac (78,686 SF)
APN
56334.0402
UPID
US90-0081388
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
-
KH Grocery Market Grocery & Convenience Store Food Market
-
Conoco Gas Station
-
Bitcoin ATM Otis Orchards - Coinhub Atm Currency Exchange Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$775k
Owner & transaction history
Kewal S Atkar · 19 yrs held
Kewal S Atkar
since 2006
5 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 Otis Orchards submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Otis Orchards 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,275,000
Current use
COMMERCIAL (GENERAL)
$1,225,000
Change: -4% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,030,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$775k
Range $698k – $853k · ±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
$96 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$9,012
Tax year 2023
Assessed value
$923,420
Assessed 2024
Previous assessed
$865,820
+6.7% YoY
Effective rate
0.98%
On assessed value
Assessed land
$196,720
Assessed improvement
$726,700
Land market value
$196,720
Improvement market value
$726,700
Total market value
$923,420
Applied tax rate
2,120.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1977
Heating
NONE
Stories
1
Total area
8,050 SF
Lot
1.81 ac (78,686 SF)
APN
56334.0402
UPID
US90-0081388
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1977
Heating
NONE
Stories
1
Lot
1.81 ac
Current owner
From public records · entity-resolved
Kewal S Atkar
Individual
Mailing address
21121 E WELLESLEY AVE, OTIS ORCHARDS, WA 99027-9655
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
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
Mar 25, 2020
—
Kawal S Atkar
—
Deed
related
$253,500 · Cityservicevalcon LLC
May 23, 2016
—
Kewal S Atkar
—
Deed
related
$450,000 · Sukhwinder S & Ajit S Johal
Aug 28, 2006
$399,000
Kewal S Atkar
Benson,dean A & Ruth A
Warranty Deed
$250,000 · Caudill Living Trust
—
—
Kewal S Atkar
—
Deed Of Trust
related
$450,000 · Sukhwinder S & Ajit S Johal
—
—
Kawal S Atkar
—
Deed Of Trust
related
$253,500 · Cityservicevalcon LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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