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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Office Spaces
2604 Meridian E Ave Edgewood, WA 98371-2105
Individually Owned
17-yr Hold
~
Est. High Equity
Property ID
US90-1664415
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2007
Construction
WOOD FRAME
Total area
3,900 SF
Lot
0.67 ac (29,150 SF)
Zoning code
MUR
APN
420094034
UPID
US90-1664415
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
$715k
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$1.06M
Owner & transaction history
D Dev · 17 yrs held
D Dev
since 2008
7 recorded transactions
Zoning & alternative use
MUR · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$770,000
6.5%
$715,000
7%
$660,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,660,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±10%
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
$272 / 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
$11,712
Tax year 2024
Assessed value
$1,057,000
Assessed 2024
Previous assessed
$1,057,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$400,900
Assessed improvement
$656,100
Land market value
$400,900
Improvement market value
$656,100
Total market value
$1,057,000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2007
Construction
WOOD FRAME
Heating
HEAT PUMP
Buildings
2
Stories
2
Bathrooms
1
Total area
3,900 SF
Lot
0.67 ac (29,150 SF)
Zoning code
MUR
APN
420094034
UPID
US90-1664415
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
MUR · Edgewood, WA
Zoning MUR · permitted uses
MUR · 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.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
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
2007
Construction
WOOD FRAME
Heating
HEAT PUMP
Stories
2
Buildings
2
Bathrooms
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
D Dev
Individual
Mailing address
5717 S 322ND PL, AUBURN, WA 98001-3870
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2020
—
D&daughters Development LLC
—
Deed
related
$715,000 · Bank Of The West
May 16, 2017
—
D & Daughters Dev LLC
—
Deed
related
$787,000 · Bank Of The West
Sep 26, 2008
—
D Dev
Young,delmar D & Myrna I
Quit Claim Deed
related
$816,000 · Bank Of America
Apr 8, 2008
$40,400
State Of Wa Dept/transportation
Yount,delmar D & Myrna I
Warranty Deed
—
Apr 18, 2006
$408,000
Delmar D Yount
Richard L Cramer
Warranty Deed
$350,604 · Evergreen Bank
Feb 25, 2002
$189,101
Richard L Cramer
Bowling,danny W & Ann P
Grant Deed
$193,500 · Countrywide Home Loans INC
May 1, 1990
$105,000
Danny W Bowling
Unknown
Grant Deed
—
—
—
Danny W Bowling
—
Deed Of Trust
related
$65,000 · First Mutual Savings Bank
—
—
D & Daughters Dev LLC
—
Deed Of Trust
related
$787,000 · Bank Of The West
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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