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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Retail space
21323 Mtn E Hwy Spanaway, WA 98387-7569
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-1586920
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1975
Construction
WOOD FRAME
Total area
3,360 SF
Lot
2.35 ac (102,410 SF)
Zoning code
MHR
APN
318101006
UPID
US90-1586920
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
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$837k
Blend (final)
Blend
$855k
Owner & transaction history
Jtt41 Properties LLC · 7 yrs held
Jtt41 Properties LLC
since 2018
7 recorded transactions
Zoning & alternative use
MHR · Spanaway, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+20.0%
Commercial (general)
$1.1M
+8.6%
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 Spanaway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spanaway 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
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,030,000
Current use
AUTO REPAIR, GARAGE
$1,235,000
Change: +20% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,115,000
Change: +9% · Conversion: Easy
WAREHOUSE, STORAGE
$1,005,000
Change: -3% · Conversion: Difficult
MEDICAL BUILDING
$920,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$855k
Range $770k – $941k · ±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
$254 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$20,958
Tax year 2024
Assessed value
$1,455,500
Assessed 2024
Previous assessed
$1,455,500
+0.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$669,800
Assessed improvement
$785,700
Land market value
$669,800
Improvement market value
$785,700
Total market value
$1,455,500
Applied tax rate
591.0000
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
1975
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
4
Stories
1
Bathrooms
1
Total area
3,360 SF
Lot
2.35 ac (102,410 SF)
Zoning code
MHR
APN
318101006
UPID
US90-1586920
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MHR · Spanaway, WAZoning MHR · permitted uses
MHR · Spanaway, WA
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
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$920,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
MEDICAL BUILDING
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
1975
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Bathrooms
1
Lot
2.35 ac
Current owner
From public records · entity-resolved
Jtt41 Properties LLC
Entity
Mailing address
11803 101ST AVE E STE #201, PUYALLUP, WA 98373-3473
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2020
—
Jtt41 Properties LLC
—
Deed
related
$1,200,000 · Columbia State Bank
Dec 5, 2018
$1,500,000
Jtt41 Properties LLC
Lincoln Roger H
Warranty Deed
$1,200,000 · Private Individual
Aug 7, 2001
—
Lincoln Properties LLC
Howard Family LP I
Quit Claim Deed
related
—
May 11, 1999
—
Lincoln Properties LLC
—
Grant Deed
related
$436,091 · Columbia State Bank
Feb 13, 1998
—
Lincoln Properties LLC
Lincoln,roger H
Quit Claim Deed
related
—
—
—
Lincoln Properties LLC
—
Loan Modification
related
$249,873 · Columbia St Bk
—
—
Roger H Lincoln
—
Deed Of Trust
related
$250,000 · Columbia State 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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