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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Grocery and convenience stores
21620 Marine Vw S Dr Des Moines, WA 98198-6154
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-0783011
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,400 SF
Lot
0.27 ac (11,730 SF)
Zoning code
D-C
APN
200900-0095
UPID
US90-0783011
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
$620k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$600k
Owner & transaction history
Dreamway INC · 20 yrs held
Dreamway INC
since 2005
7 recorded transactions
Zoning & alternative use
D-C · Des Moines, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$405,000
+174.8%
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%
$675,000
6.5%
$620,000
7%
$580,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$405,000
Change: +175% · Conversion: Easy
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
$250 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$9,112
Tax year 2022
Assessed value
$751,400
Assessed 2022
Previous assessed
$751,400
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$304,900
Assessed improvement
$446,500
Land market value
$304,900
Improvement market value
$446,500
Total market value
$751,400
Applied tax rate
1,107.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
2,400 SF
Lot
0.27 ac (11,730 SF)
Zoning code
D-C
APN
200900-0095
UPID
US90-0783011
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
D-C · Des Moines, WA
Zoning D-C · permitted uses
D-C · Des Moines, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$405,000
COMMERCIAL (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
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
Dreamway INC
Entity
Mailing address
21620 MARINE VW DR S, DES MOINES, WA 98198-6154
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
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 22, 2025
—
Dreamway INC
—
Deed
related
$325,000 · Sun Pacific Energy INC
Aug 31, 2005
$724,000
Dreamway INC
Chang,dong M
Warranty Deed
$840,000 · Wilshire State Bank
Aug 1, 2001
$554,000
Dong M Chang
Shin,choon H & Hyo S
Grant Deed
$674,000 · City Bank
Jun 4, 1996
$500,000
Choon H Shin
Shin,tae H & Hyung S
Grant Deed
related
$510,000 · City Bank
Oct 11, 1995
$400,000
Tae H Shin
Pars Investment Co
Grant Deed
$360,000 · City Bank
—
—
Pars Investment Co INC
—
Deed Of Trust
related
$160,000 · Seattle-first National Bank
—
—
Choon H Shin
—
Deed Of Trust
related
$30,700 · Olympic 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.
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