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Property profile & analytics
OFF-MARKET
Estimated value
$1,125,000
Retail space
22818 Meridian E Graham, WA 98338-9145
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0947099
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Construction
WOOD FRAME
Total area
5,160 SF
Lot
1.43 ac (62,334 SF)
Zoning code
RAC
APN
418161015
UPID
US90-0947099
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
$690k
Comparable Approach
Comparable
$793k
Blend (final)
Blend
$1.13M
Owner & transaction history
Graham Wa Hay Market LLC · 2 yrs held
Graham Wa Hay Market LLC
since 2023
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
RAC · Graham, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+8.6%
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 Graham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Graham 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%
$745,000
6.5%
$690,000
7%
$640,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,580,000
Current use
COMMERCIAL (GENERAL)
$1,715,000
Change: +9% · Conversion: Easy
WAREHOUSE, STORAGE
$1,540,000
Change: -3% · Conversion: Difficult
MEDICAL BUILDING
$1,415,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.13M
Range $1.01M – $1.24M · ±10% · vs last sale $1.30M (Nov 6 2023)
Last sale anchor
$1.30M
Nov 6 2023
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
$218 / 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
$5,411
Tax year 2024
Assessed value
$354,400
Assessed 2024
Previous assessed
$354,400
+0.0% YoY
Effective rate
1.53%
On assessed value
Assessed land
$213,800
Assessed improvement
$140,600
Land market value
$213,800
Improvement market value
$140,600
Total market value
$354,400
Applied tax rate
575.0000
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
Year built
1960
Construction
WOOD FRAME
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Units
1
Total area
5,160 SF
Lot
1.43 ac (62,334 SF)
Zoning code
RAC
APN
418161015
UPID
US90-0947099
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RAC · Graham, WAZoning RAC · permitted uses
RAC · Graham, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
RETAIL STORES Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1960
Construction
WOOD FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
1.43 ac
Current owner
From public records · entity-resolved
Graham Wa Hay Market LLC
Entity
Mailing address
2218 MERIDIAN E, GRAHAM, WA 98338
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 6, 2023
$1,300,000
Graham Wa Hay Market LLC
Timothy Cannon
Warranty Deed
$2,800,000 · Timothy Cannon Etal
—
—
Tina M Cannon
—
Deed Of Trust
related
$873,554 · Heritage Bank
—
—
Timothy J Cannon
—
Deed Of Trust
related
$150,000 · Mt Rainier National Bank
—
—
Timothy J Cannon
—
Deed Of Trust
related
$150,000 · Mt Rainier National Bank
—
—
Tina M Cannon
—
Deed Of Trust
related
$873,554 · Heritage Bank
—
—
Tina M Cannon
—
Deed Of Trust
related
$50,000 · Heritage Bank
—
—
Tina M Cannon
—
Deed Of Trust
related
$50,000 · Heritage 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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