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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Office buildings
2626 College SE St Lacey, WA 98503-3226
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-1481355
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1982
Construction
WOOD FRAME
Total area
2,520 SF
Lot
0.91 ac (39,640 SF)
APN
1182-82-20400
UPID
US90-1481355
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
$770k
CAP Approach
CAP
$540k
Comparable Approach
Comparable
$596k
Blend (final)
Blend
$655k
Owner & transaction history
Happy Living LLC · 2 yrs held
Happy Living LLC
since 2023
Last sale
$640,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+110.2%
Commercial (general)
$635,000
+24.9%
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 Lacey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lacey 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
$740,000
ML approach
$770,000
CAP Approach
CAP Return
Estimation
6%
$585,000
6.5%
$540,000
7%
$500,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$510,000
Current use
RETAIL STORES
$1,070,000
Change: +110% · Conversion: Moderate
COMMERCIAL (GENERAL)
$635,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $640k (Aug 9 2023)
Last sale anchor
$640k
Aug 9 2023
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
$260 / 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
$7,510
Tax year 2023
Assessed value
$789,600
Assessed 2022
Previous assessed
$582,500
+35.6% YoY
Effective rate
0.95%
On assessed value
Assessed land
$113,300
Assessed improvement
$676,300
Land market value
$113,300
Improvement market value
$676,300
Total market value
$789,600
Applied tax rate
241.0000
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
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1982
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
1
Bathrooms
1
Total area
2,520 SF
Lot
0.91 ac (39,640 SF)
APN
1182-82-20400
UPID
US90-1481355
Jurisdiction
THURSTON
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
OFFICE BUILDING Current
Est. value
$510,000
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$635,000
OFFICE BUILDING Current
RETAIL STORES
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
1982
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
1
Bathrooms
1
Lot
0.91 ac
Current owner
From public records · entity-resolved
Happy Living LLC
Entity
Free & Clear · 2 yrs held
Mailing address
7421 39TH AVE S, SEATTLE, WA 98118-3766
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 9, 2023
$640,000
Happy Living LLC
HOA Van Than
Warranty Deed
—
Aug 11, 2017
$464,219
HOA Van Than
Michael Breinig
Warranty Deed
$250,000 · South Sound Bank
Aug 18, 2011
—
Christopher Breinig
Breinig,jeane C
Quit Claim Deed
related
—
Aug 18, 2011
$158,333
Michael Breinig
William Jaback
Quit Claim Deed
related
$250,000 · Wells Fargo Bank NA
Sep 4, 2008
—
Breinig Charles F Trust
Bayside Industries INC
Quit Claim Deed
related
—
Aug 9, 2006
—
Breinig Charles F Trust
Breinig,charles F
Quit Claim Deed
related
—
Jan 25, 2006
—
Breinig Charles F Trust
Breinig,charles F
Quit Claim Deed
related
—
Feb 3, 1988
$37,500
Charles F Breinig
Unknown
Grant 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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