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Property profile & analytics
FOR LEASE
Commercial real estate
22509 Marine View Dr S Des Moines, WA 98198
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0682680
No photos on file
For Lease
$2,648/Mo
22509 Marine View Dr S, Des Moines, WA 98198
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1962
Construction
FRAME
Total area
10,560 SF
Lot
0.24 ac (10,500 SF)
Zoning code
D-C
APN
200660-0290
UPID
US90-0682680
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
$2.15M
Comparable Approach
Comparable
$1.19M
Blend (final)
Blend
$1.80M
Owner & transaction history
New Shed Ventures LLC · 1 yrs held
New Shed Ventures LLC
since 2024
5 recorded transactions
Zoning & alternative use
D-C · Seattle, 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 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,325,000
6.5%
$2,145,000
7%
$1,990,000
Blend value · Realmo final
$1.80M
Range $1.62M – $1.97M · ±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
$170 / 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
$20,588
Tax year 2024
Assessed value
$1,507,400
Assessed 2023
Previous assessed
$1,507,400
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$273,000
Assessed improvement
$1,234,400
Land market value
$273,000
Improvement market value
$1,234,400
Total market value
$1,507,400
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1962
Construction
FRAME
Heating
FORCED AIR
Stories
2
Total area
10,560 SF
Lot
0.24 ac (10,500 SF)
Zoning code
D-C
APN
200660-0290
UPID
US90-0682680
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
D-C · Seattle, WA
Zoning D-C · permitted uses
D-C · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1962
Construction
FRAME
Heating
FORCED AIR
Stories
2
Lot
0.24 ac
Current owner
From public records · entity-resolved
New Shed Ventures LLC
Entity
Free & Clear · 1 yrs held
Mailing address
17837 1ST AVE S, NORMANDY PARK, WA 98148-1728
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2025
—
New Shed Ventures LLC
—
Deed
related
$750,000 · Heritage Southeast Bank
Oct 10, 2024
—
New Shed Ventures LLC
Thomas J O'sullivan
Warranty Deed
—
Dec 27, 2023
$1,500,000
Thomas J O'sullivan
Pigotti & Schlocker Associates LLC
Warranty Deed
—
Oct 5, 2023
—
Ethel R Schlocker
Erik Schlocker
Intrafamily Transfer
related
—
Jan 27, 2023
—
Pigotti & Schlocker Associates LLC
Elida Pigotti
Intrafamily Transfer
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.
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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