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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Theaters & concert halls
212 Pennsylvania Ave, Cle Elum, WA 98922-1129
Entity Owned
Free & Clear
Property ID
US90-3280541
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1925
Total area
6,000 SF
Lot
0.15 ac (6,500 SF)
Zoning code
CEC
APN
933335
UPID
US90-3280541
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
$785k
Owner & transaction history
Cheval Investments LLC
Cheval Investments LLC
since 2025
Last sale
$785,295
6 recorded transactions
Zoning & alternative use
CEC · Cle Elum, 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 Cle Elum submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cle Elum 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
COMMERCIAL (GENERAL)
$1,220,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$1,175,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$925,000
Change: 0% · Conversion: Difficult
RESTAURANT
$860,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$750,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$785k
Range $707k – $864k · ±10% · vs last sale $785k (Jul 16 2025)
Last sale anchor
$785k
Jul 16 2025
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
$131 / 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
Property tax & assessments
Assessed value
$410,500
Assessed 2024
Previous assessed
$353,990
+16.0% YoY
Assessed land
$97,500
Assessed improvement
$313,000
Land market value
$97,500
Improvement market value
$313,000
Total market value
$410,500
Applied tax rate
28.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1925
Heating
SPACE
Cooling
WALL UNIT
Stories
1
Total area
6,000 SF
Lot
0.15 ac (6,500 SF)
Zoning code
CEC
APN
933335
UPID
US90-3280541
Jurisdiction
KITTITAS
Zoning & alternative use
CEC · Cle Elum, WA
Zoning CEC · permitted uses
CEC · Cle Elum, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cle Elum. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$925,000
RESTAURANT
Est. value
$860,000
AUTO REPAIR, GARAGE
Est. value
$750,000
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
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
1925
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Cheval Investments LLC
Entity
Free & Clear · 0 yrs held
Mailing address
3835 W MERCER WAY, MERCER ISLAND, WA 98040-3317
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2025
$785,295
Cheval Investments LLC
Cle Elum Ventures LLC
Warranty Deed
—
Aug 9, 2013
$249,900
Cle Elum Ventures LLC
Funderburk,john R
Warranty Deed
—
Aug 9, 2013
—
John R Funderburk
Putnam,larry D
Deed In Lieu Of Foreclosure
related
—
Oct 18, 2012
—
John R Funderburk
Putnam,larry D
Quit Claim Deed
related
—
Jun 22, 2007
$375,000
Larry D Putnam
Funderburk,john R
Warranty Deed
$300,000 · John R Funderburk
Mar 20, 2006
—
John R Funderburk III
Funderburk,tracy
Quit Claim Deed
related
—
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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