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Property profile & analytics
OFF-MARKET
Estimated value
$51,550,000
Showrooms
21402 24th S Ave Des Moines, WA 98198-4337
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-2993549
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
248,499 SF
Lot
11.5 ac (501,037 SF)
Zoning code
PR-C
APN
092204-9399
UPID
US90-2993549
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$50.47M
Comparable Approach
Comparable
$38.77M
Blend (final)
Blend
$51.55M
Owner & transaction history
Duke Realty 24th Ave Des Moine · 7 yrs held
Duke Realty 24th Ave Des Moine
since 2018
7 recorded transactions
Zoning & alternative use
PR-C · Des Moines, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
after referred to as zones, have unique land use and development regulations, and some general regulations apply to each zone. The three Pacific Ridge zones are as follows: (a) PR-R, Pacific Ridge Residential. (b) PR -C 1, Pacific Ridge Commercial 1. (c) PR -C2, Pacific Ridge Commercial 2. (2) Other zones may be applied to existing and planned public facilit…
Zone name
Pacific Ridge Commercial
General category
COMMERCIAL
Zone area
140.05 ac
Source
Title 18 Zoning
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 Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Moines 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%
$54,670,000
6.5%
$50,465,000
7%
$46,860,000
Blend value · Realmo final
$51.55M
Range $46.40M – $56.71M · ±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
$207 / 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
$762,295
Tax year 2024
Assessed value
$49,266,800
Assessed 2023
Previous assessed
$49,266,800
+0.0% YoY
Effective rate
1.55%
On assessed value
Assessed land
$12,525,900
Assessed improvement
$36,740,900
Land market value
$12,525,900
Improvement market value
$36,740,900
Total market value
$49,266,800
Applied tax rate
1,126.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Bathrooms
4
Total area
248,499 SF
Lot
11.5 ac (501,037 SF)
Zoning code
PR-C
APN
092204-9399
UPID
US90-2993549
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PR-C · Des Moines, WAZoning PR-C · permitted uses
PR-C · Des Moines, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
after referred to as zones, have unique land use and development regulations, and some general regulations apply to each zone. The three Pacific Ridge zones are as follows: (a) PR-R, Pacific Ridge Residential. (b) PR -C 1, Pacific Ridge Commercial 1. (c) PR -C2, Pacific Ridge Commercial 2. (2) Other zones may be applied to existing and planned public facilities, parks, utilities, and similar land uses. (3) For application of the g
Zone name
Pacific Ridge Commercial
General category
COMMERCIAL
Zone area
140.05 ac
Source
Title 18 Zoning
Building & site characteristics
From public records
Year built
2018
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Bathrooms
4
Lot
11.5 ac
Current owner
From public records · entity-resolved
Duke Realty 24th Ave Des Moine
Entity
Free & Clear · 7 yrs held
Mailing address
1800 WAZEE ST STE #500, DENVER, CO 80202-2526
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2018
$111,000,000
Duke Realty 24th Ave Des Moine
Dmcbp Phase IV LLC
Warranty Deed
—
Aug 31, 2017
—
Dmcbp Phase IV LLC
—
Grant Deed
related
$34,200,000 · East West Bk
Jul 13, 2017
$800,000
Dmcbp Phase IV LLC
Cheema,jaspal S & Parneet K
Warranty Deed
—
Jan 23, 2014
$165,000
Jaspal S Cheema
Gill,balbinder S
Warranty Deed
—
Oct 5, 2011
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
—
Jun 21, 2006
$390,000
Balbinder S Gill
Worden,harold M & Dianne M
Warranty Deed
$351,000 · Countrywide Home Loans INC
Jun 21, 2006
—
Balbinder S Gill
Kaur,bavandeep
Quit Claim Deed
related
—
Feb 1, 1993
$110,000
Harold A Worden
Uort Of Seattle
Grant Deed
$105,600 · Ctx Mortgage Co
Sep 30, 1991
$121,500
Seattle Port Of
Wright
Grant Deed
—
—
—
Harold M Worden
—
Deed Of Trust
related
$16,000 · Key Bank NA
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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