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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
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
$705k
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
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
$705k
Range $635k – $776k · ±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
$204 / 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, WA
Zoning 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
Algona. Always verify with local authorities before improvements.
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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