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Property profile & analytics
OFF-MARKET
Estimated value
$4,445,000
Distribution centers
3166 Cougar SW Ln Tumwater, WA 98512-7801
Entity Owned
23-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0850669
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2003
Construction
STEEL FRAME
Total area
55,300 SF
Lot
5.46 ac (237,838 SF)
APN
6304-00-00600
UPID
US90-0850669
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
$3.70M
Blend (final)
Blend
$4.45M
Owner & transaction history
M Bjerke Properties LLC · 23 yrs held
M Bjerke Properties LLC
since 2002
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$7.0M
+40.1%
Office building
$6.9M
+38.3%
Retail stores
$6.5M
+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
$4,995,000
Current use
INDUSTRIAL (GENERAL)
$6,995,000
Change: +40% · Conversion: Easy
OFFICE BUILDING
$6,905,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$6,485,000
Change: +30% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,570,000
Change: -8% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,415,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$4.45M
Range $4.00M – $4.89M · ±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
$80 / 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
$73,692
Tax year 2024
Assessed value
$7,374,700
Assessed 2023
Previous assessed
$7,426,900
-0.7% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,357,700
Assessed improvement
$6,017,000
Land market value
$1,357,700
Improvement market value
$6,017,000
Total market value
$7,374,700
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Total area
55,300 SF
Lot
5.46 ac (237,838 SF)
APN
6304-00-00600
UPID
US90-0850669
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
$5.0M
INDUSTRIAL (GENERAL)
Est. value
$7.0M
OFFICE BUILDING
Est. value
$6.9M
RETAIL STORES
Est. value
$6.5M
COMMERCIAL (GENERAL)
Est. value
$4.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.4M
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
2003
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Lot
5.46 ac
Current owner
From public records · entity-resolved
M Bjerke Properties LLC
Entity
Mailing address
27200 SW PKWY AVE, WILSONVILLE, OR 97070-9214
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2002
—
M Bjerke Properties LLC
—
Trustees Deed
related
$2,437,500 · Columbia State Bank
—
—
M Bjerke Properties LLC
—
Deed Of Trust
related
$1,300,000 · Columbia State Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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