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Property profile & analytics
OFF-MARKET
Estimated value
$2,005,000
Outlet malls
21815 Marine Vw S Dr Des Moines, WA 98198-6176
Entity Owned
18-yr Hold
Free & Clear
Property ID
US90-0397424
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,655 SF
Lot
1.19 ac (52,000 SF)
Zoning code
D-C
APN
200900-2030
UPID
US90-0397424
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.01M
Owner & transaction history
Benenson Capital Co LLC · 18 yrs held
Benenson Capital Co LLC
since 2008
1 recorded transaction
Zoning & alternative use
D-C · Des Moines, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Residential: Multi family 900A; (vi) RM-900B Restricted Service Zone. (Revised 10/12) 18·36 (2) Commercial Zones. (a) N-C Neighborhood Commercial; (b) B-C Business Commercial; (c) C-C Community Commercial; (d) D-C Downtown Commercial; (e) C-G General Commercial (f) I-C Institutional Campus; (g) B-P Business Park; (h) H-C Highway Commercial. [Ord. 1544 § 3,…
Zone name
Downtown Commercial
General category
COMMERCIAL
Zone area
86.74 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$128 / 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
$25,070
Tax year 2022
Assessed value
$1,859,800
Assessed 2022
Previous assessed
$1,859,800
+0.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$1,352,000
Assessed improvement
$507,800
Land market value
$1,352,000
Improvement market value
$507,800
Total market value
$1,859,800
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
15,655 SF
Lot
1.19 ac (52,000 SF)
Zoning code
D-C
APN
200900-2030
UPID
US90-0397424
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
D-C · Des Moines, WAZoning 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
Zoning description
Residential: Multi family 900A; (vi) RM-900B Restricted Service Zone. (Revised 10/12) 18·36 (2) Commercial Zones. (a) N-C Neighborhood Commercial; (b) B-C Business Commercial; (c) C-C Community Commercial; (d) D-C Downtown Commercial; (e) C-G General Commercial (f) I-C Institutional Campus; (g) B-P Business Park; (h) H-C Highway Commercial. [Ord. 1544 § 3, 2012: Ord. 1397 § 1, 2007: Ord. 1237 §§ 1,3,1999; Ord. 1197 § 23, 19
Zone name
Downtown Commercial
General category
COMMERCIAL
Zone area
86.74 ac
Source
Title 18 Zoning
Building & site characteristics
From public records
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Benenson Capital Co LLC
Entity
Free & Clear · 18 yrs held
Mailing address
155 E 44TH ST, NEW YORK, NY 10017-4100
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2008
—
Benenson Capital Co LLC
Benenson Charles B
Quit Claim Deed
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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