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Property profile & analytics
OFF-MARKET
Estimated value
$1,020,000
Warehouses
2806 29th SW Ave Tumwater, WA 98512-6155
Entity Owned
12-yr Hold
Free & Clear
Property ID
US90-0810830
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
STEEL FRAME
Total area
12,000 SF
Lot
1.95 ac (84,942 SF)
APN
6305-00-00900
UPID
US90-0810830
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$866k
Blend (final)
Blend
$1.02M
Owner & transaction history
Stephens Rental Properties LLC · 12 yrs held
Stephens Rental Properties LLC
since 2014
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.5M
+40.1%
Office building
$1.5M
+38.3%
Retail stores
$1.4M
+29.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,085,000
Current use
INDUSTRIAL (GENERAL)
$1,520,000
Change: +40% · Conversion: Easy
OFFICE BUILDING
$1,500,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$1,405,000
Change: +30% · Conversion: Moderate
COMMERCIAL (GENERAL)
$990,000
Change: -8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$960,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $918k – $1.12M · ±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
$85 / 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
$17,286
Tax year 2024
Assessed value
$1,729,100
Assessed 2023
Previous assessed
$1,596,900
+8.3% YoY
Effective rate
1.00%
On assessed value
Assessed land
$759,800
Assessed improvement
$969,300
Land market value
$759,800
Improvement market value
$969,300
Total market value
$1,729,100
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Total area
12,000 SF
Lot
1.95 ac (84,942 SF)
APN
6305-00-00900
UPID
US90-0810830
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
WAREHOUSE, STORAGE Current
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$990,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$960,000
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1989
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
1
Lot
1.95 ac
Current owner
From public records · entity-resolved
Stephens Rental Properties LLC
Entity
Free & Clear · 12 yrs held
Mailing address
PO BOX 13380, OLYMPIA, WA 98508-3380
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2014
$800,000
Stephens Rental Properties LLC
Pbj Contracting INC
Warranty Deed
—
Apr 22, 2014
$1,275,000
Pbj Contracting INC
Bpm 29th Ave LLC
Deed In Lieu Of Foreclosure
related
—
Jan 2, 2008
$1,300,000
Bpm 29th Ave LLC
Pbj Contracting INC
Warranty Deed
$1,275,000 · Pbj Contracting INC
May 9, 1995
—
Pbj Contracting INC
Phillips,daniel C & Melissa N
Quit Claim Deed
related
—
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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