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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Grocery and convenience stores
320 1st N Ave Algona, WA 98001-8542
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0728785
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1939
Construction
WOOD
Total area
3,456 SF
Lot
0.13 ac (5,450 SF)
Zoning code
C-1
APN
885600-4710
UPID
US90-0728785
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
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$710k
CAP Approach
CAP
$950k
Comparable Approach
Comparable
$765k
Blend (final)
Blend
$740k
Owner & transaction history
Mla1 LLC · 5 yrs held
Mla1 LLC
since 2020
Last sale
$650,000
7 recorded transactions
Zoning & alternative use
C-1 · Algona, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The C-1 mixed use commercial district is intended to provide a mixture of uses This means that residential uses are mixed with nonresidential land uses, such as small scale retail and commercial, office, civic and open space
Zone name
Mixed Use Commercial
General category
MIXED_USE
Zone area
69.96 ac
Source
Realmo
Top alternative use upside
Office building
$1.0M
+9.5%
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 Algona submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Algona 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
$740,000
ML approach
$710,000
CAP Approach
CAP Return
Estimation
6%
$1,030,000
6.5%
$950,000
7%
$885,000
Alternative Use
Use
Estimation
RETAIL STORES
$915,000
Current use
OFFICE BUILDING
$1,005,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $650k (Oct 1 2020)
Last sale anchor
$650k
Oct 1 2020
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
$214 / 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
$11,192
Tax year 2022
Assessed value
$500,500
Assessed 2022
Previous assessed
$500,500
+0.0% YoY
Effective rate
2.24%
On assessed value
Assessed land
$75,000
Assessed improvement
$425,500
Land market value
$75,000
Improvement market value
$425,500
Total market value
$500,500
Applied tax rate
51.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1939
Construction
WOOD
Heating
FORCED AIR
Buildings
2
Stories
2
Total area
3,456 SF
Lot
0.13 ac (5,450 SF)
Zoning code
C-1
APN
885600-4710
UPID
US90-0728785
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C-1 · Algona, WAZoning C-1 · permitted uses
C-1 · Algona, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The C-1 mixed use commercial district is intended to provide a mixture of uses This means that residential uses are mixed with nonresidential land uses, such as small scale retail and commercial, office, civic and open space
Zone name
Mixed Use Commercial
General category
MIXED_USE
Zone area
69.96 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$915,000
OFFICE BUILDING
Est. value
$1.0M
RETAIL STORES Current
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
1939
Construction
WOOD
Heating
FORCED AIR
Stories
2
Buildings
2
Lot
0.13 ac
Current owner
From public records · entity-resolved
Mla1 LLC
Entity
Mailing address
320 1ST AVE N, ALGONA, WA 98001-8542
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2020
$650,000
Mla1 LLC
Myoung & Jong Corporation
Warranty Deed
$710,000 · Hanmi Bank
Dec 28, 2016
—
Myoung & Jong Corp
—
Deed
related
$437,000 · Bank Of The West
Jul 7, 2016
—
Myoung & Jong Corp
Yun,myoung K & Jong O
Quit Claim Deed
related
—
May 28, 1996
$220,000
Myoung K Yun
Yi,wan C
Grant Deed
$175,000 · City Bank
—
—
Myoung K Yun
—
Deed Of Trust
related
$280,000 · Washington First Int'l Bank
—
—
Myoung K Yun
—
Loan Modification
related
$414,000 · Bbu Bank
—
—
Myoung K Yun
—
Deed Of Trust
related
$276,343 · Kitsap Bank
—
—
Myoung & Jong Corp
—
Deed Of Trust
related
$437,000 · Bank Of The West
—
—
Myoung K Yun
—
Deed Of Trust
related
$400,000 · City Bank
—
—
Myoung K Yun
—
Deed Of Trust
related
$415,000 · Washington First Int'l Bank
—
—
Hyun Sirdon
—
Deed Of Trust
related
$53,000 · Individual
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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