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Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Commercial land
2324 Meridian E Ave, Edgewood, WA 98371-1011
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1490139
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1940
Construction
WOOD FRAME
Total area
1,746 SF
Lot
0.19 ac (8,170 SF)
Zoning code
COMMUNITY
APN
420091146
UPID
US90-1490139
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
$1.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.50M
Owner & transaction history
Samuel Chongsaeng Kim · 1 yrs held
Samuel Chongsaeng Kim
since 2024
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
COMMUNITY · Edgewood, 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 Edgewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edgewood 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
$1,500,000
ML approach
$1,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±10% · vs last sale $1.50M (Sep 12 2024)
Last sale anchor
$1.50M
Sep 12 2024
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
$859 / 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
$3,033
Tax year 2024
Assessed value
$245,200
Assessed 2024
Previous assessed
$245,200
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$245,200
Land market value
$245,200
Total market value
$245,200
Applied tax rate
770.0000
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 land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1940
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
1,746 SF
Lot
0.19 ac (8,170 SF)
Zoning code
COMMUNITY
APN
420091146
UPID
US90-1490139
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
COMMUNITY · Edgewood, WA
Zoning COMMUNITY · permitted uses
COMMUNITY · Edgewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Edgewood. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1940
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.19 ac
Current owner
From public records · entity-resolved
Samuel Chongsaeng Kim
Individual
Mailing address
12511 30TH ST CT E, EDGEWOOD, WA 98372-6311
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2024
—
Samuel Chongsaeng Kim
Samuel Chongsaeng Kim
Intrafamily Transfer
related
—
Mar 23, 2022
$1,500,000
Samuel C Kim
Sook Corporation
Warranty Deed
—
Jun 16, 2017
—
Myoung & Jong Corp
—
Deed
related
$220,000 · Bank Of Hope
Apr 26, 2017
—
Myoung & Jong Corp
—
Deed
related
$220,000 · Bank Of Hope
Dec 1, 2016
—
Myoung & Jong Corp
Yun,myoung K & Jong O
Quit Claim Deed
related
—
Jun 30, 2016
—
Myoung & Jong Corp
Yun,myoung K & Jong O
Quit Claim Deed
related
—
Mar 10, 2010
$155,000
Myoung K Yun
State Of Wa
Quit Claim Deed
related
—
May 5, 2008
$200,000
State Of Wa/dept/transportation
Windmill Corner LLC
Warranty Deed
—
May 5, 2008
$160,000
State Of Wa/dept/transportation
Windmill Corner LLC
Warranty Deed
—
Nov 29, 2006
$236,000
Windmill Corner LLC
Olson & Schmidt Brewing LLC
Warranty Deed
$129,293 · Fife Commercial Bank
May 20, 2002
$116,039
Olson & Schmidt Brewing LLC
Cavallo,vincent J
Grant Deed
$148,890 · Fife Commercial Bank
—
—
Myoung & Jong Corp
—
Deed Of Trust
related
$220,000 · Bank Of Hope
—
—
Myoung & Jong Corp
—
Deed Of Trust
related
$220,000 · Bank Of Hope
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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