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Property profile & analytics
OFF-MARKET
Estimated value
$10,400,000
Office Spaces
2215 1st St 273 Vancouver, WA 98661-7750
Entity Owned
25-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0982979
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1999
Construction
WOOD
Total area
49,078 SF
Lot
7.47 ac (325,393 SF)
Zoning code
IL : VAN
APN
031031-000
UPID
US90-0982979
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
$10.11M
Comparable Approach
Comparable
$14.21M
Blend (final)
Blend
$10.40M
Owner & transaction history
Kiewit Construction Co · 25 yrs held
Kiewit Construction Co
since 2001
2 recorded transactions
Zoning & alternative use
IL : VAN · Vancouver, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$16.3M
+30.8%
Retail stores
$15.7M
+26.0%
Medical building
$13.5M
+8.1%
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 Vancouver submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Vancouver 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$10,945,000
6.5%
$10,105,000
7%
$9,380,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$12,450,000
Current use
RESTAURANT
$16,280,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$15,695,000
Change: +26% · Conversion: Easy
MEDICAL BUILDING
$13,465,000
Change: +8% · Conversion: Easy
INDUSTRIAL (GENERAL)
$12,000,000
Change: -4% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$11,325,000
Change: -9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,190,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$10.40M
Range $9.36M – $11.44M · ±10%
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
$212 / 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
$86,348
Tax year 2023
Assessed value
$9,254,100
Assessed 2023
Previous assessed
$8,412,800
+10.0% YoY
Effective rate
0.93%
On assessed value
Assessed land
$2,505,527
Assessed improvement
$6,748,573
Land market value
$2,505,527
Improvement market value
$6,748,573
Total market value
$9,254,100
Applied tax rate
10,000.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1999
Construction
WOOD
Heating
OTHER
Buildings
2
Stories
1
Total area
49,078 SF
Lot
7.47 ac (325,393 SF)
Zoning code
IL : VAN
APN
031031-000
UPID
US90-0982979
Jurisdiction
CLARK
Zoning & alternative use
IL : VAN · Vancouver, WA
Zoning IL : VAN · permitted uses
IL : VAN · Vancouver, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Vancouver. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$12.5M
RESTAURANT
Est. value
$16.3M
RETAIL STORES
Est. value
$15.7M
MEDICAL BUILDING
Est. value
$13.5M
INDUSTRIAL (GENERAL)
Est. value
$12.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.3M
AUTO REPAIR, GARAGE
Est. value
$10.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1999
Construction
WOOD
Heating
OTHER
Stories
1
Buildings
2
Lot
7.47 ac
Current owner
From public records · entity-resolved
Kiewit Construction Co
Entity
Free & Clear · 25 yrs held
Mailing address
1550 MIKE FAHEY ST, OMAHA, NE 68102-4722
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2001
—
Kiewit Construction Co
Vancouver City (wa)
Quit Claim Deed
related
—
Dec 24, 1991
—
Kiewit Construction Group
Unknown
Grant 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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