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Property profile & analytics
OFF-MARKET
Estimated value
$1,050,000
Commercial land
3028 232nd Pl Des Moines, WA 98198-7278
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0205986
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1981
Construction
WOOD FRAME
Total area
3,116 SF
Lot
0.19 ac (8,175 SF)
Zoning code
PR-R
APN
250060-0364
UPID
US90-0205986
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
$1.05M
Owner & transaction history
State Of Washington · 4 yrs held
State Of Washington
since 2022
6 recorded transactions
Zoning & alternative use
PR-R · Des Moines, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C 18.80.010. The three subareas, hereafter referred to as zones, have unique land use and development regulations, and some general regulations apply to each zone. The three Pacific Ridge zones are as follows: (a) PR-R, Pacific Ridge Residential. (b) PR -C 1, Pacific Ridge Commercial 1. (c) PR -C2, Pacific Ridge Commercial 2. (2) Other zones may be applied t…
Zone name
Pacific Ridge Residential
General category
COMMERCIAL
Zone area
55.57 ac
Source
Title 18 Zoning
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)
$1,575,000
Current use
AUTO REPAIR, GARAGE
$1,280,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±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
$508
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
3,116 SF
Lot
0.19 ac (8,175 SF)
Zoning code
PR-R
APN
250060-0364
UPID
US90-0205986
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PR-R · Des Moines, WAZoning 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
Zoning description
C 18.80.010. The three subareas, hereafter referred to as zones, have unique land use and development regulations, and some general regulations apply to each zone. The three Pacific Ridge zones are as follows: (a) PR-R, Pacific Ridge Residential. (b) PR -C 1, Pacific Ridge Commercial 1. (c) PR -C2, Pacific Ridge Commercial 2. (2) Other zones may be applied to existing and planned public facilities, parks, utilities, and similar l
Zone name
Pacific Ridge Residential
General category
COMMERCIAL
Zone area
55.57 ac
Source
Title 18 Zoning
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.3M
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
0.19 ac
Current owner
From public records · entity-resolved
State Of Washington
Individual
Mailing address
PO BOX 47338, OLYMPIA, WA 98504-7338
Ownership since
2022
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
Mar 1, 2022
—
State Of Washington
Central Puget Sound Regional Transi
Quit Claim Deed
related
—
Feb 2, 2018
—
Central Puget Sound Regional T
Baltz,david K
Warranty Deed
—
Jan 29, 1999
$181,000
David K Baltz
Peterson,lanny J & Judith A
Grant Deed
$144,800 · Washington Mutual Fsb
Mar 5, 1990
$145,000
Lanny J Peterson
Petersen,robert
Grant Deed
related
—
—
—
David K Baltz
—
Deed Of Trust
related
$192,500 · America's Wholesale Lender
—
—
Lanny J Peterson
—
Deed Of Trust
related
$127,916 · Platte Valley Funding
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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