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Property profile & analytics
OFF-MARKET
Estimated value
$1,405,000
Warehouses
22411 Foss NE Rd, Poulsbo, WA 98370-6560
Individually Owned
4-yr Hold
Free & Clear
Property ID
US90-2772161
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2005
Total area
3,936 SF
Lot
2.63 ac (114,563 SF)
Zoning code
RI
APN
012601-4-061-2002
UPID
US90-2772161
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
$1.64M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.41M
Owner & transaction history
Frank Oftutt Ulirich · 4 yrs held
Frank Oftutt Ulirich
since 2021
Last sale
$1.4M
1 recorded transaction
Zoning & alternative use
RI · Poulsbo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.8M
+108.5%
Retail stores
$1.1M
+27.7%
Neighborhood: shopping center
$1.0M
+18.4%
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 Poulsbo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Poulsbo 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
$1,580,000
ML approach
$1,640,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$850,000
Current use
COMMERCIAL (GENERAL)
$1,770,000
Change: +108% · Conversion: Difficult
RETAIL STORES
$1,085,000
Change: +28% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,005,000
Change: +18% · Conversion: Moderate
OFFICE BUILDING
$980,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$955,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$1.41M
Range $1.26M – $1.55M · ±10% · vs last sale $1.39M (Nov 8 2021)
Last sale anchor
$1.39M
Nov 8 2021
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
$357 / 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
$8,473
Tax year 2024
Assessed value
$1,010,030
Assessed 2024
Previous assessed
$1,010,030
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$353,260
Assessed improvement
$656,770
Land market value
$353,260
Improvement market value
$656,770
Total market value
$1,010,030
Applied tax rate
4,370.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2005
Heating
NONE
Buildings
5
Stories
1
Total area
3,936 SF
Lot
2.63 ac (114,563 SF)
Zoning code
RI
APN
012601-4-061-2002
UPID
US90-2772161
Jurisdiction
KITSAP
Zoning & alternative use
RI · Poulsbo, WA
Zoning RI · permitted uses
RI · Poulsbo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Poulsbo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$850,000
COMMERCIAL (GENERAL)
Est. value
$1.8M
RETAIL STORES
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
OFFICE BUILDING
Est. value
$980,000
MEDICAL BUILDING
Est. value
$955,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
MEDICAL BUILDING
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
2005
Heating
NONE
Stories
1
Buildings
5
Lot
2.63 ac
Current owner
From public records · entity-resolved
Frank Oftutt Ulirich
Individual
Free & Clear · 4 yrs held
Mailing address
6000 SCHERZINGER RD, NESKOWIN, OR 97149-9720
Ownership since
2021
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
Nov 8, 2021
$1,390,000
Frank Oftutt Ulirich
B & C Propeilies INC
Warranty 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.
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