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Property profile & analytics
OFF-MARKET
Estimated value
$1,215,000
Industrial properties
2649 R W Johnson SW Blvd, Tumwater, WA 98512-6110
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1624854
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1981
Construction
STEEL FRAME
Total area
7,108 SF
Lot
2.3 ac (100,188 SF)
APN
6307-00-03201
UPID
US90-1624854
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
$1.13M
CAP Approach
CAP
$885k
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.22M
Owner & transaction history
Hunter Capital Holdings 2 LLC · 4 yrs held
Hunter Capital Holdings 2 LLC
since 2021
Last sale
$1.3M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+32.2%
Restaurant
$1.0M
+13.0%
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 Tumwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tumwater 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
$1,270,000
ML approach
$1,130,000
CAP Approach
CAP Return
Estimation
6%
$960,000
6.5%
$885,000
7%
$825,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$900,000
Current use
AUTO REPAIR, GARAGE
$1,190,000
Change: +32% · Conversion: Easy
RESTAURANT
$1,015,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$890,000
Change: -1% · Conversion: Difficult
RETAIL STORES
$835,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$1.22M
Range $1.09M – $1.34M · ±10% · vs last sale $1.32M (Jun 28 2021)
Last sale anchor
$1.32M
Jun 28 2021
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
$171 / 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
$16,502
Tax year 2023
Assessed value
$1,693,300
Assessed 2022
Previous assessed
$1,381,900
+22.5% YoY
Effective rate
0.97%
On assessed value
Assessed land
$604,300
Assessed improvement
$1,089,000
Land market value
$604,300
Improvement market value
$1,089,000
Total market value
$1,693,300
Applied tax rate
440.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Total area
7,108 SF
Lot
2.3 ac (100,188 SF)
APN
6307-00-03201
UPID
US90-1624854
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
INDUSTRIAL (GENERAL) Current
Est. value
$900,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
RESTAURANT
Est. value
$1.0M
OFFICE BUILDING
Est. value
$890,000
RETAIL STORES
Est. value
$835,000
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
RETAIL STORES
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
1981
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Lot
2.3 ac
Current owner
From public records · entity-resolved
Hunter Capital Holdings 2 LLC
Entity
Mailing address
2501 21ST AVE SW, TUMWATER, WA 98512-5606
Ownership since
2021
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
Nov 17, 2021
—
Hunter Capital Holdings 2 LLC
—
Deed
related
$295,400 · Capital Industrial INC
Jun 28, 2021
$1,324,300
Hunter Capital Holdings 2 LLC
2649 Rw Johnson Lcl
Warranty Deed
—
Mar 10, 2016
—
2649 Rw Johnson LLC
Nieman Properties LLC
Quit Claim Deed
related
—
Oct 1, 2004
$1,050,000
Nieman Properties LLC
Stephens Trust
Warranty Deed
$1,050,000 · Stephens Trust
—
—
Stephens,tr
—
Deed Of Trust
related
$400,000 · Columbia State Bank
—
—
Duane M Stephens
—
Deed Of Trust
related
$180,067 · West Coast Bank
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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