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Property profile & analytics
OFF-MARKET
Estimated value
$3,485,000
Warehouses
2520 112th S St Lakewood, WA 98499-8891
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1612006
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Construction
WOOD FRAME
Total area
19,200 SF
Lot
2.4 ac (104,544 SF)
Zoning code
CZ
APN
319071024
UPID
US90-1612006
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
-
Angels Pallets Freight Service Logistics Company
-
Systems for Public Safety, Inc. Auto Repair Shop
-
BOSS Innovations Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.53M
CAP Approach
CAP
$3.61M
Comparable Approach
Comparable
$2.82M
Blend (final)
Blend
$3.49M
Owner & transaction history
Sps Viii Investments LLC · 3 yrs held
Sps Viii Investments LLC
since 2022
Last sale
$3.4M
6 recorded transactions
Zoning & alternative use
CZ · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of clear zone zoning districts is to promote land use and development that is compatible with the aircraft noise and accident potential associated with the proximity to Joint Base Lewis McChord aircraft flight operations
Zone name
Clear Zone
General category
UNKNOWN
Zone area
57.93 ac
Source
Realmo
Top alternative use upside
Medical building
$5.3M
+79.2%
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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
$3,525,000
ML approach
$3,525,000
CAP Approach
CAP Return
Estimation
6%
$3,910,000
6.5%
$3,605,000
7%
$3,350,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,940,000
Current use
MEDICAL BUILDING
$5,270,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$3.49M
Range $3.14M – $3.83M · ±10% · vs last sale $3.38M (Dec 2 2022)
Last sale anchor
$3.38M
Dec 2 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
$182 / 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
$28,543
Tax year 2024
Assessed value
$2,619,400
Assessed 2024
Previous assessed
$2,619,400
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,398,400
Assessed improvement
$1,221,000
Land market value
$1,398,400
Improvement market value
$1,221,000
Total market value
$2,619,400
Applied tax rate
761.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Units
1
Total area
19,200 SF
Lot
2.4 ac (104,544 SF)
Zoning code
CZ
APN
319071024
UPID
US90-1612006
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
CZ · Lakewood, WAZoning CZ · permitted uses
CZ · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of clear zone zoning districts is to promote land use and development that is compatible with the aircraft noise and accident potential associated with the proximity to Joint Base Lewis McChord aircraft flight operations
Zone name
Clear Zone
General category
UNKNOWN
Zone area
57.93 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$5.3M
WAREHOUSE, STORAGE Current
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
2000
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Units
1
Lot
2.4 ac
Current owner
From public records · entity-resolved
Sps Viii Investments LLC
Entity
Mailing address
2520 112TH ST S, LAKEWOOD, WA 98499-8891
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2022
$3,380,000
Sps Viii Investments LLC
Banker Investments LLC
Warranty Deed
$2,873,000 · First Citizens Bank & Trust Co
Jan 15, 2015
$1,499,719
Banker Investments LLC
U Fix It Auto Wrecking INC
Warranty Deed
$1,200,000 · Western Alliance Bank
Apr 18, 2003
—
U-fix-it Auto Wrecking INC
F M Auto Sales INC
Quit Claim Deed
related
$999,500 · Us Bank Trust NA
—
—
U-fix-it Auto Wrecking INC
—
Deed Of Trust
related
$207,000 · Us Bank Of Washington
—
—
U Fix It Auto Wrecking INC
—
Deed Of Trust
related
$350,000 · Us Bank NA
—
—
Fm Auto Sales INC
—
Deed Of Trust
related
$165,000 · Individual
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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