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Property profile & analytics
OFF-MARKET
Estimated value
$2,545,000
Retail space
2207 Sims Way 2223, Port Townsend, WA 98368-4621
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1996550
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
10,230 SF
Lot
0.56 ac (24,394 SF)
Zoning code
C-II
APN
957607006
UPID
US90-1996550
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
$2.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.53M
Blend (final)
Blend
$2.55M
Owner & transaction history
Pt Hand Therapy Building LLC · 4 yrs held
Pt Hand Therapy Building LLC
since 2022
Last sale
$2.7M
6 recorded transactions
Zoning & alternative use
C-II · Port Townsend, 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 Port Townsend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Port Townsend 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
$2,405,000
ML approach
$2,440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.55M
Range $2.29M – $2.80M · ±10% · vs last sale $2.68M (May 10 2022)
Last sale anchor
$2.68M
May 10 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
$249 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$22,221
Tax year 2023
Assessed value
$2,478,828
Assessed 2023
Previous assessed
$2,413,131
+2.7% YoY
Effective rate
0.90%
On assessed value
Assessed land
$763,370
Assessed improvement
$1,715,458
Land market value
$763,370
Improvement market value
$1,715,458
Total market value
$2,478,828
Applied tax rate
110.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
NONE
Total area
10,230 SF
Lot
0.56 ac (24,394 SF)
Zoning code
C-II
APN
957607006
UPID
US90-1996550
Jurisdiction
JEFFERSON
Zoning & alternative use
C-II · Port Townsend, WA
Zoning C-II · permitted uses
C-II · Port Townsend, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Port Townsend. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Lot
0.56 ac
Current owner
From public records · entity-resolved
Pt Hand Therapy Building LLC
Entity
Free & Clear · 4 yrs held
Mailing address
4200 BIRKLAND RD NE, BAINBRIDGE ISLAND, WA 98110-2183
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2022
—
Pt Hand Therapy Building LLC
Sims Investments LLC
Re-recorded Document
related
—
May 10, 2022
$2,680,000
Pt Therapy Building LLC
Sims Investments LLC
Bargain And Sale Deed
$262,325 · First Citizens Bank & Trust Co
Sep 30, 2013
$1,820,281
Sims Investments LLC
No Wine Left LLC
Warranty Deed
—
Jul 1, 2004
$1,000,000
No Wine Left LLC
Port Townsend Lumber Assocs Ll
Warranty Deed
$1,974,000 · Homestreet Bank
—
—
Port Townsend Lumber Assocs Ll
—
Deed Of Trust
related
$38,000 · Thomas L & Rosalee S Waggoner
—
—
No Wine Left LLC
—
Deed Of Trust
related
$1,975 · Homestreet 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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