Back to Search
Property profile & analytics
OFF-MARKET
Retail space
23405 Pacific S Hwy Des Moines, WA 98198-8738
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US90-0905870
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1930
Construction
WOOD
Total area
1,800 SF
Lot
1.07 ac (46,588 SF)
Zoning code
H-C
APN
250060-0615
UPID
US90-0905870
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
by Request
Owner & transaction history
Emerald Place Two LLC · 14 yrs held
Emerald Place Two LLC
since 2011
7 recorded transactions
Zoning & alternative use
H-C · Des Moines, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
d ings shall be ample in width, as determined by the community development director (width as proportioned to length) and night lighted. lOrd. 1170 § 7,1996; Ord. 705 § 2,1987.] (Revised 3/00) 18-92 Chapter 18.29 H-C HIGHWAY COMMERCIAL ZONE Sections 18.29.010 18.29.020 18.29.030 18.29.040 18.29.045 18.29.050 18.29.060 18.29.070 18.29.080 18.29.090 18.29.100…
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
0.59 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$16,094
Tax year 2022
Assessed value
$1,279,400
Assessed 2022
Previous assessed
$1,279,400
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$1,118,100
Assessed improvement
$161,300
Land market value
$1,118,100
Improvement market value
$161,300
Total market value
$1,279,400
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
1930
Construction
WOOD
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
1,800 SF
Lot
1.07 ac (46,588 SF)
Zoning code
H-C
APN
250060-0615
UPID
US90-0905870
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
H-C · Des Moines, WAZoning H-C · permitted uses
H-C · Des Moines, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
d ings shall be ample in width, as determined by the community development director (width as proportioned to length) and night lighted. lOrd. 1170 § 7,1996; Ord. 705 § 2,1987.] (Revised 3/00) 18-92 Chapter 18.29 H-C HIGHWAY COMMERCIAL ZONE Sections 18.29.010 18.29.020 18.29.030 18.29.040 18.29.045 18.29.050 18.29.060 18.29.070 18.29.080 18.29.090 18.29.100 Purpose of zone. Permitted uses. Conditional uses. Limitatio
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
0.59 ac
Source
Title 18 Zoning
Building & site characteristics
From public records
Year built
1930
Construction
WOOD
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
1.07 ac
Current owner
From public records · entity-resolved
Emerald Place Two LLC
Entity
Mailing address
1018 W JAMES ST, KENT, WA 98032-4316
Ownership since
2011
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 19, 2021
—
Emerald Place Two LLC
—
Deed
related
$250,000 · Us Bank NA
Aug 8, 2016
—
Emerald Place Two LLC
—
Deed
related
$150,000 · Us Bank NA
Oct 31, 2011
—
Emerald Place Two LLC
Emerald City Properties LLC
Quit Claim Deed
related
$209,251 · Us Bank NA
Apr 21, 2006
$1,762
Puget Sound Energy INC
Emerald City Props LLC
Grant Deed
related
—
May 16, 2001
$450,000
Emerald City Properties LLC
Midway Center
—
$350,000 · Midway Center
—
—
Emerald City Properties LLC
—
Deed Of Trust
related
$360,000 · Key Bank NA
—
—
Emerald City Properties LLC
—
Deed Of Trust
related
$80,000 · Key Bank NA
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 23405 Pacific S Hwy?
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.
