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Property profile & analytics
OFF-MARKET
Estimated value
$5,840,000
Outlet malls
21700 Market NW Pl Poulsbo, WA 98370-6633
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0672164
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2008
Total area
14,867 SF
Lot
1.78 ac (77,537 SF)
Zoning code
CITY
APN
102601-2-039-2004
UPID
US90-0672164
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
$6.52M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.52M
Blend (final)
Blend
$5.84M
Owner & transaction history
Maj Place Hd LLC · 3 yrs held
Maj Place Hd LLC
since 2022
Last sale
$5.3M
7 recorded transactions
Zoning & alternative use
CITY · Poulsbo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.0M
+119.9%
Commercial (general)
$6.7M
+63.2%
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 Poulsbo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Poulsbo 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
$6,655,000
ML approach
$6,520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$4,095,000
Current use
RESTAURANT
$9,000,000
Change: +120% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,680,000
Change: +63% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,795,000
Change: -7% · Conversion: Moderate
OFFICE BUILDING
$3,700,000
Change: -10% · Conversion: Easy
MEDICAL BUILDING
$3,610,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$5.84M
Range $5.26M – $6.42M · ±10% · vs last sale $5.25M (Aug 1 2022)
Last sale anchor
$5.25M
Aug 1 2022
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
$393 / 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
$28,332
Tax year 2024
Assessed value
$3,320,450
Assessed 2024
Previous assessed
$2,767,050
+20.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$652,490
Assessed improvement
$2,667,960
Land market value
$652,490
Improvement market value
$2,667,960
Total market value
$3,320,450
Applied tax rate
420.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2008
Heating
NONE
Stories
1
Total area
14,867 SF
Lot
1.78 ac (77,537 SF)
Zoning code
CITY
APN
102601-2-039-2004
UPID
US90-0672164
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Poulsbo, WAZoning CITY · permitted uses
CITY · Poulsbo, 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
$4.1M
RESTAURANT
Est. value
$9.0M
COMMERCIAL (GENERAL)
Est. value
$6.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.7M
MEDICAL BUILDING
Est. value
$3.6M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
2008
Heating
NONE
Stories
1
Lot
1.78 ac
Current owner
From public records · entity-resolved
Maj Place Hd LLC
Entity
Mailing address
654 RICHLAND HLS DR, SAN ANTONIO, TX 78245-2494
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2022
$5,250,000
Maj Place Hd LLC
Colony Wharf Properties Wa LLC
Warranty Deed
$3,412,500 · Heritage Southeast Bank
Dec 23, 2019
—
Colony Wharf Properties Wa LLC
—
Deed
related
$2,220,000 · Kitsap Bk
Nov 1, 2010
—
Colony Wharf Properties Wa LLC
Colony Wharf INC
Quit Claim Deed
related
—
Dec 30, 2009
$4,147,000
Colony Wharf INC
Madison Poulsbo LLC
Warranty Deed
$2,447,000 · Washington Trust Bank
Jul 25, 2008
—
Madison Poulsbo LLC
—
Trustees Deed
related
$700,000 · Washington Trust Bank
Jul 18, 2008
$1,462,500
Madison Poulsbo LLC
Olhava Associates
Warranty Deed
$3,150,000 · Washington Trust Bank
—
—
Colony Wharf Props Wa LLC
—
Deed Of Trust
related
$2,450,000 · Us Bank NA
—
—
Colony Wharf Properties Wa LLC
—
Deed Of Trust
related
$2,220,000 · Kitsap Bk
—
—
Olhava Associates LP
—
Loan Modification
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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