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Property profile & analytics
OFF-MARKET
Estimated value
$1,075,000
Commercial land
21813 Mtn E Hwy Spanaway, WA 98387-7541
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1499298
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1933
Total area
948 SF
Lot
5.72 ac (249,163 SF)
Zoning code
CMUD
APN
318104048
UPID
US90-1499298
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
$1.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.08M
Owner & transaction history
Mountain Highway Investors LLC · 4 yrs held
Mountain Highway Investors LLC
since 2022
Last sale
$1.1M
4 recorded transactions
Zoning & alternative use
CMUD · Spanaway, 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 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
$1,105,000
ML approach
$1,060,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±10% · vs last sale $1.07M (Jan 28 2022)
Last sale anchor
$1.07M
Jan 28 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
$1,134 / 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
$11,012
Tax year 2024
Assessed value
$1,045,200
Assessed 2024
Previous assessed
$1,036,600
+0.8% YoY
Effective rate
1.05%
On assessed value
Assessed land
$1,045,200
Land market value
$1,045,200
Total market value
$1,045,200
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1933
Heating
NONE
Bathrooms
1
Total area
948 SF
Lot
5.72 ac (249,163 SF)
Zoning code
CMUD
APN
318104048
UPID
US90-1499298
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CMUD · Spanaway, WAZoning CMUD · permitted uses
CMUD · Spanaway, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1933
Heating
NONE
Bathrooms
1
Lot
5.72 ac
Current owner
From public records · entity-resolved
Mountain Highway Investors LLC
Entity
Mailing address
12815 CYN RD E STE F, PUYALLUP, WA 98373-5104
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2025
—
Mt Highway Investors LLC
—
Deed
related
$1,583,600 · Niewara LLC
Jan 28, 2022
$1,070,000
Mountain Highway Investors LLC
Hyun Sook Koo
Warranty Deed
$1,031,550 · 1892 Capital Partners LLC
Feb 28, 2014
—
Hyan H Koo
Hoi,jun
Quit Claim Deed
related
—
Dec 24, 2003
$390,000
Jun H Koo
Farren,john Est
Grant Deed
—
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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