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Property profile & analytics
OFF-MARKET
Estimated value
$1,190,000
Medical Office Space
2884 Griffin Ave Enumclaw, WA 98022-2318
Entity Owned
28-yr Hold
~
Est. High Equity
Property ID
US90-1559286
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Construction
FRAME
Total area
5,544 SF
Lot
0.5 ac (21,840 SF)
Zoning code
GO
APN
232006-9019
UPID
US90-1559286
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
$1.13M
Comparable Approach
Comparable
$911k
Blend (final)
Blend
$1.19M
Owner & transaction history
Sapphire Properties LP · 28 yrs held
Sapphire Properties LP
since 1998
4 recorded transactions
Zoning & alternative use
GO · Enumclaw, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The zone is intended to provide locations for professional offices and financial institutions and other similar uses
Zone name
General Office
General category
UNKNOWN
Zone area
46.77 ac
Source
Realmo
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 Enumclaw submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Enumclaw 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%
$1,225,000
6.5%
$1,130,000
7%
$1,050,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,920,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$1.19M
Range $1.07M – $1.31M · ±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
$215 / 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
$16,667
Tax year 2024
Assessed value
$1,516,800
Assessed 2023
Previous assessed
$1,516,800
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$262,000
Assessed improvement
$1,254,800
Land market value
$262,000
Improvement market value
$1,254,800
Total market value
$1,516,800
Applied tax rate
1,175.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1998
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Bathrooms
1
Total area
5,544 SF
Lot
0.5 ac (21,840 SF)
Zoning code
GO
APN
232006-9019
UPID
US90-1559286
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
GO · Enumclaw, WAZoning GO · permitted uses
GO · Enumclaw, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The zone is intended to provide locations for professional offices and financial institutions and other similar uses
Zone name
General Office
General category
UNKNOWN
Zone area
46.77 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
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
1998
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Bathrooms
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
Sapphire Properties LP
Entity
Mailing address
PO BOX 160, PUYALLUP, WA 98371-0016
Ownership since
1998
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 14, 2024
—
2884 Sapphire LLC
—
Deed
related
$450,000 · Commencement Bank
May 28, 1998
—
Sapphire Properties LP
Griffin Properties LP
Quit Claim Deed
related
$600,000 · Us Bank
Jul 25, 1997
$150,000
Griffin Properties LP
Pierce,pamala J
Grant Deed
$200,000 · Mt Rainier National Bank
Mar 6, 1991
—
Pamalaj Latsha
Latsha,don D
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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