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Property profile & analytics
OFF-MARKET
Banks
22037 7th S Ave Des Moines, WA 98198-6216
Entity Owned
Free & Clear
Property ID
US90-1539435
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1974
Construction
WOOD
Total area
2,100 SF
Lot
0.33 ac (14,300 SF)
Zoning code
D-C
APN
200900-3655
UPID
US90-1539435
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
by Request
Owner & transaction history
FIRST INTERSTATE BANK
FIRST INTERSTATE BANK
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
—
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
$7,092
Tax year 2022
Assessed value
$525,000
Assessed 2022
Previous assessed
$525,000
+0.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$328,900
Assessed improvement
$196,100
Land market value
$328,900
Improvement market value
$196,100
Total market value
$525,000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1974
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Total area
2,100 SF
Lot
0.33 ac (14,300 SF)
Zoning code
D-C
APN
200900-3655
UPID
US90-1539435
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
1974
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
FIRST INTERSTATE BANK
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 2609, CARLSBAD, CA 92018-2609
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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