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Property profile & analytics
OFF-MARKET
Estimated value
$2,250,000
Office buildings
240 Auburn S Way Auburn, WA 98002-5452
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0758077
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,000 SF
Lot
0.18 ac (8,000 SF)
Zoning code
DUC
APN
733140-0640
UPID
US90-0758077
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
-
Donna Gibson Law Offices Law Firm
-
Healthy Foot MASSAGE Alternative Medicine Practice Spa & Massage Center
-
AIPCA washington state church Church
-
Agape Healthcare Services LLC Registered General Nurse Care Services
-
B M Distributing Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.25M
CAP Approach
CAP
$2.08M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.25M
Owner & transaction history
Nisaree LLC · 1 yrs held
Nisaree LLC
since 2024
Last sale
$2.3M
7 recorded transactions
Zoning & alternative use
DUC · Auburn, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.2M
+130.0%
Restaurant
$3.0M
+118.3%
Medical building
$2.4M
+72.9%
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 Auburn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Auburn 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
$2,250,000
ML approach
$2,250,000
CAP Approach
CAP Return
Estimation
6%
$2,250,000
6.5%
$2,075,000
7%
$1,930,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,370,000
Current use
COMMERCIAL (GENERAL)
$3,150,000
Change: +130% · Conversion: Easy
RESTAURANT
$2,990,000
Change: +118% · Conversion: Moderate
MEDICAL BUILDING
$2,370,000
Change: +73% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,080,000
Change: +52% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,065,000
Change: +51% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,645,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$2.25M
Range $2.03M – $2.48M · ±10% · vs last sale $2.25M (Dec 2 2024)
Last sale anchor
$2.25M
Dec 2 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
$375 / 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
$9,583
Tax year 2022
Assessed value
$725,200
Assessed 2022
Previous assessed
$725,200
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$104,000
Assessed improvement
$621,200
Land market value
$104,000
Improvement market value
$621,200
Total market value
$725,200
Applied tax rate
133.0000
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
OFFICE BUILDING
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
2
Total area
6,000 SF
Lot
0.18 ac (8,000 SF)
Zoning code
DUC
APN
733140-0640
UPID
US90-0758077
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DUC · Auburn, WA
Zoning DUC · permitted uses
DUC · Auburn, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Auburn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$3.2M
RESTAURANT
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$1.6M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
Nisaree LLC
Entity
Mailing address
8428 143RD CT NE, REDMOND, WA 98052-3467
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2024
$2,250,000
Nisaree LLC
Creesco LLC
Warranty Deed
$1,480,000 · Red Canoe Cu
Jan 31, 2008
$1,464,375
Creesco LLC
Chi June Wu
Warranty Deed
$900,000 · Washington Mutual Bank
Oct 20, 2005
—
Chi-june Wu
Lee,rouh-chiu
Quit Claim Deed
related
—
Mar 17, 2005
$425,000
Chi June Wu
Leuzinger Family LLC
Warranty Deed
$250,000 · Us Bank NA
Mar 21, 2002
—
Leuzinger Family LLC
230/240 LP
Quit Claim Deed
related
—
—
—
Daniel E Hansgen
—
Deed Of Trust
related
$150,940 · Chemical Mortgage Co
—
—
Loren G Mitchell
—
Deed Of Trust
related
$61,512 · Norwest Financial America INC
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
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