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Property profile & analytics
OFF-MARKET
Estimated value
$1,200,000
Warehouses
311 3rd NE St Auburn, WA 98002-5032
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1571898
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,718 SF
Lot
0.25 ac (11,000 SF)
Zoning code
DUC
APN
173580-0200
UPID
US90-1571898
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
$1.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.20M
Owner & transaction history
Simonson Investments LLC · 3 yrs held
Simonson Investments LLC
since 2023
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
DUC · Auburn, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
theast Auburn Special Area Plan and Auburn Gateway Planned Action 18.09 R-MHC Manufactured/Mobile Home Community Zone 18.21 Overlays 18.23 Commercial and Industrial Zones 18.25 Middle Housing Development Standards 18.29 DUC Downtown Urban Center District 18.31 Supplemental Development Standards 18.32 Accessory Dwelling Unit Development Standards 18.35 Specia…
Zone name
Downtown Urban Center
General category
CIVIC_INSTITUTIONAL
Zone area
167.83 ac
Top alternative use upside
Commercial (general)
$2.0M
+91.5%
Medical building
$1.5M
+44.0%
Auto repair, garage
$1.3M
+25.4%
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 Auburn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Auburn 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
$1,190,000
ML approach
$1,140,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,020,000
Current use
COMMERCIAL (GENERAL)
$1,955,000
Change: +91% · Conversion: Difficult
MEDICAL BUILDING
$1,470,000
Change: +44% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,280,000
Change: +25% · Conversion: Easy
RETAIL STORES
$1,010,000
Change: -1% · Conversion: Moderate
OFFICE BUILDING
$850,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.20M
Range $1.08M – $1.32M · ±10% · vs last sale $1.25M (Feb 2 2023)
Last sale anchor
$1.25M
Feb 2 2023
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
$323 / 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
$27,587
Tax year 2022
Assessed value
$575,500
Assessed 2022
Previous assessed
$575,500
+0.0% YoY
Effective rate
4.79%
On assessed value
Assessed land
$121,000
Assessed improvement
$454,500
Land market value
$121,000
Improvement market value
$454,500
Total market value
$575,500
Applied tax rate
133.0000
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
2
Total area
3,718 SF
Lot
0.25 ac (11,000 SF)
Zoning code
DUC
APN
173580-0200
UPID
US90-1571898
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DUC · Auburn, WAZoning DUC · permitted uses
DUC · Auburn, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
theast Auburn Special Area Plan and Auburn Gateway Planned Action 18.09 R-MHC Manufactured/Mobile Home Community Zone 18.21 Overlays 18.23 Commercial and Industrial Zones 18.25 Middle Housing Development Standards 18.29 DUC Downtown Urban Center District 18.31 Supplemental Development Standards 18.32 Accessory Dwelling Unit Development Standards 18.35 Special Purpose Zones 18.36 Repealed 18.38 L-F Airport Landing Field District, Overlay, a
Zone name
Downtown Urban Center
General category
CIVIC_INSTITUTIONAL
Zone area
167.83 ac
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.0M
OFFICE BUILDING
Est. value
$850,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
2
Lot
0.25 ac
Current owner
From public records · entity-resolved
Simonson Investments LLC
Entity
Mailing address
19107 SE 314TH PL, KENT, WA 98042-9736
Ownership since
2023
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
Mar 27, 2023
—
Simonson Investments LLC
—
Deed
related
$525,000 · Evergreen Business Captal
Feb 2, 2023
$1,250,000
Simonson Investments LLC
Brilliant Properties LLC
Warranty Deed
$637,900 · Key Bank NA
Apr 13, 2009
—
Brilliant Properties LLC
White,jeff & Diana
Quit Claim Deed
related
—
Nov 14, 2008
—
Team Auburn LLC
Auburn Racquetball & Handball
Quit Claim Deed
—
Nov 14, 2008
$350,000
Jeffrey K White
Team Auburn LLC
Warranty Deed
$280,000 · Washington Business Bank
Jun 30, 2005
$265,560
Team Auburn LLC
Team Vision Quest LLC
Grant Deed
—
—
—
Joseph Bauman
—
Deed Of Trust
related
$54,036 · Ronald I Tate
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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