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Property profile & analytics
OFF-MARKET
Estimated value
$3,540,000
Retail space
23003 Pacific S Hwy Des Moines, WA 98198-7269
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-1918481
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,685 SF
Lot
1.47 ac (64,167 SF)
Zoning code
PR-C
APN
250060-0100
UPID
US90-1918481
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.54M
Owner & transaction history
State Of Wa Dept/natural Rsrcs · 20 yrs held
State Of Wa Dept/natural Rsrcs
since 2006
7 recorded transactions
Zoning & alternative use
PR-C · Des Moines, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
after referred to as zones, have unique land use and development regulations, and some general regulations apply to each zone. The three Pacific Ridge zones are as follows: (a) PR-R, Pacific Ridge Residential. (b) PR -C 1, Pacific Ridge Commercial 1. (c) PR -C2, Pacific Ridge Commercial 2. (2) Other zones may be applied to existing and planned public facilit…
Zone name
Pacific Ridge Commercial
General category
COMMERCIAL
Zone area
140.05 ac
Source
Title 18 Zoning
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$5,890,000
Current use
APARTMENT HOUSE (5+ UNITS)
$5,210,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$5,190,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$5,050,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$3.54M
Range $3.19M – $3.89M · ±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
$241 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$5,311
Tax year 2022
Applied tax rate
1,126.0000
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
14,685 SF
Lot
1.47 ac (64,167 SF)
Zoning code
PR-C
APN
250060-0100
UPID
US90-1918481
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PR-C · Des Moines, WAZoning PR-C · permitted uses
PR-C · Des Moines, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
after referred to as zones, have unique land use and development regulations, and some general regulations apply to each zone. The three Pacific Ridge zones are as follows: (a) PR-R, Pacific Ridge Residential. (b) PR -C 1, Pacific Ridge Commercial 1. (c) PR -C2, Pacific Ridge Commercial 2. (2) Other zones may be applied to existing and planned public facilities, parks, utilities, and similar land uses. (3) For application of the g
Zone name
Pacific Ridge Commercial
General category
COMMERCIAL
Zone area
140.05 ac
Source
Title 18 Zoning
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.2M
OFFICE BUILDING
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$5.1M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
1.47 ac
Current owner
From public records · entity-resolved
State Of Wa Dept/natural Rsrcs
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2006
$1,391,556
State Of Wa Dept/natural Rsrcs
Mordevco LLC
Warranty Deed
—
Apr 11, 2006
—
Mordevco LLC
Wg At Des Moines LLC
Warranty Deed
—
Apr 11, 2006
$6,508,443
State Of Wa Dept/natural Rsrcs
Wg At Des Moines LLC
Warranty Deed
—
Oct 4, 2004
$335,405
Wg Of Des Moines LLC
Pacific Financial Center LLC
Warranty Deed
$4,530,500 · Zions First National Bank
Dec 1, 1999
—
Pacific Financial Center LLC
Steenrod,robert M & Margaret A
Grant Deed
related
—
Feb 13, 1997
$725,000
Robert M Steenrod
Keith Uddenberg INC
Grant Deed
$747,000 · Money Store INC
Aug 2, 1995
—
Keith Uddenberg INC
—
Deed Of Trust
related
$1,400,000 · Key Bank Of Washington
—
—
Pacific Financial Center LLC
—
Deed Of Trust
related
$750,000 · Commerce Bank Of Washington
—
—
Robert M Steenrod
—
Deed Of Trust
related
$750,000 · Commerce Bank Of Washington
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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