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Property profile & analytics
OFF-MARKET
Estimated value
$1,215,000
Commercial land
3020 232nd Pl Des Moines, WA 98198-7278
Individually Owned
21-yr Hold
Property ID
US90-2833890
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1981
Construction
WOOD FRAME
Total area
3,604 SF
Lot
0.28 ac (12,060 SF)
Zoning code
PR-R
APN
250060-0360
UPID
US90-2833890
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.22M
Owner & transaction history
Habte Meharry · 21 yrs held
Habte Meharry
since 2005
7 recorded transactions
Zoning & alternative use
PR-R · Des Moines, 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 Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Moines 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
COMMERCIAL (GENERAL)
$1,825,000
Current use
AUTO REPAIR, GARAGE
$1,485,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.22M
Range $1.09M – $1.34M · ±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
$337 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$771
Tax year 2022
Applied tax rate
1,126.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1981
Construction
WOOD FRAME
Heating
ELECTRIC
Cooling
WALL UNIT
Stories
2
Total area
3,604 SF
Lot
0.28 ac (12,060 SF)
Zoning code
PR-R
APN
250060-0360
UPID
US90-2833890
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PR-R · Des Moines, WA
Zoning PR-R · permitted uses
PR-R · Des Moines, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Des Moines. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.5M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
WOOD FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Habte Meharry
Individual
Mailing address
401 S JACKSON ST, SEATTLE, WA 98104-2826
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 2005
$393,500
Habte Meharry
Amenai Werede
Warranty Deed
$314,800 · Suntrust Mortgage INC
Mar 16, 2000
$220,000
Amenai Werede
Lybyer,wayne H
Grant Deed
$176,000 · Countrywide Home Loans INC
Jun 11, 1998
$190,000
Wayne H Lybyer
Densmore,rick L & Leslie C
Grant Deed
$70,000 · Mortgage Specialists INC
Sep 28, 1989
$152,500
Rick L Densmore
Edwards,robert H
Grant Deed
$152,500 · Freedom Mortgage
—
—
Rick L Densmore
—
Deed Of Trust
related
$20,000 · Seattle-first National Bank
—
—
Amenai Werede
—
Deed Of Trust
related
$178,500 · Wells Fargo Home Mortgage INC
—
—
Amena I Werede
—
Deed Of Trust
related
$175,000 · World Savings
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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