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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Warehouses
23611 State Rte 3rd 3, Belfair, WA 98528-8309
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0724883
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1959
Construction
WOOD
Total area
2,571 SF
Lot
0.74 ac (32,234 SF)
APN
12329-43-00230
UPID
US90-0724883
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
$590k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$653k
Blend (final)
Blend
$650k
Owner & transaction history
James E Cook · 4 yrs held
James E Cook
since 2022
Last sale
$700,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$715,000
+65.2%
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 Belfair submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belfair 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
$595,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$430,000
Current use
COMMERCIAL (GENERAL)
$715,000
Change: +65% · Conversion: Difficult
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $700k (Apr 8 2022)
Last sale anchor
$700k
Apr 8 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
$253 / 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
$3,476
Tax year 2023
Assessed value
$477,710
Assessed 2023
Previous assessed
$461,850
+3.4% YoY
Effective rate
0.73%
On assessed value
Assessed land
$240,185
Assessed improvement
$237,525
Land market value
$240,185
Improvement market value
$237,525
Total market value
$477,710
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1959
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
2,571 SF
Lot
0.74 ac (32,234 SF)
APN
12329-43-00230
UPID
US90-0724883
Jurisdiction
MASON
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
WAREHOUSE, STORAGE Current
Est. value
$430,000
COMMERCIAL (GENERAL)
Est. value
$715,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
1959
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
0.74 ac
Current owner
From public records · entity-resolved
James E Cook
Individual
Mailing address
PO BOX 1216, ALLYN, WA 98524-1216
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2022
$700,000
James E Cook
Eretz Capital LLC
Warranty Deed
$658,700 · Enterprise Bank & Trust
Nov 19, 2019
—
Eretz Capital LLC
—
Deed
related
$74,940 · Kitsap Bank
Jul 31, 2015
$375,000
Eretz Capital LLC
Bny Mellon
Special Warranty Deed
$300,000 · Kitsap Bank
Jan 9, 2006
—
Theler Samuel B Trust
Theler Samuel B Trust
Quit Claim 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.
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