Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Office buildings
229 Wenatchee Ave Wenatchee, WA 98801-3061
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1891745
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1924
Total area
4,175 SF
Lot
0.19 ac (8,276 SF)
APN
222010590294
UPID
US90-1891745
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
Current use
Occupant on record · Public records
-
necda Charitable Organization Social Service Agency
-
Interwest Communications Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$855k
CAP Approach
CAP
$885k
Comparable Approach
Comparable
$723k
Blend (final)
Blend
$755k
Owner & transaction history
Interwest Investments LLC · 3 yrs held
Interwest Investments LLC
since 2022
Last sale
$750,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+13.2%
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 Wenatchee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wenatchee 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
$800,000
ML approach
$855,000
CAP Approach
CAP Return
Estimation
6%
$960,000
6.5%
$885,000
7%
$820,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$985,000
Current use
AUTO REPAIR, GARAGE
$1,115,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$800,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$755k
Range $680k – $831k · ±10% · vs last sale $750k (Nov 29 2022)
Last sale anchor
$750k
Nov 29 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
$181 / 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
$3,675
Tax year 2023
Assessed value
$414,507
Assessed 2022
Previous assessed
$412,173
+0.6% YoY
Effective rate
0.89%
On assessed value
Assessed land
$132,422
Assessed improvement
$282,085
Land market value
$132,422
Improvement market value
$282,085
Total market value
$414,507
Applied tax rate
802.0000
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 buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1924
Heating
NONE
Total area
4,175 SF
Lot
0.19 ac (8,276 SF)
APN
222010590294
UPID
US90-1891745
Jurisdiction
CHELAN
Zoning & alternative use
Zoning · permitted uses
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
OFFICE BUILDING Current
Est. value
$985,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$800,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1924
Heating
NONE
Lot
0.19 ac
Current owner
From public records · entity-resolved
Interwest Investments LLC
Entity
Mailing address
229 S WENATCHEE AVE, WENATCHEE, WA 98801-3061
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2022
$750,000
Interwest Investments LLC
Richard Magnussen
Warranty Deed
$750,000 · Richard A Magnussen Etal
May 22, 2007
$215,000
Richard A Magnussen
Andler,michael F & Bridget
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 229 Wenatchee Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
