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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Office buildings
32800 State Rte 20 Oak Harbor, WA 98277-2609
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0277909
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1978
Total area
6,500 SF
Lot
0.68 ac (29,621 SF)
Zoning code
OH
APN
R13335-298-3380
UPID
US90-0277909
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
-
Wayne Locke, RE/MAX Acorn Properties Inc Real Estate Agency
-
Erin Paiz Neilon, Whidbey Island Realtor® Real Estate Agency
-
Re/Max Acorn Properties Real Estate Agency
-
Acorn Properties Management Group Property Management Company
-
Cristie Arnold Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$435k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$677k
Blend (final)
Blend
$555k
Owner & transaction history
James A Neilon · 8 yrs held
James A Neilon
since 2018
4 recorded transactions
Zoning & alternative use
OH · Oak Harbor, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$920,000
+4.1%
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 Oak Harbor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Harbor 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
$435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$885,000
Current use
RESTAURANT
$920,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$85 / 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
Property tax & assessments
Assessed value
$1,206,993
Assessed 2023
Previous assessed
$1,101,729
+9.6% YoY
Assessed land
$592,416
Assessed improvement
$614,577
Land market value
$592,416
Improvement market value
$614,577
Total market value
$1,206,993
Applied tax rate
100.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1978
Heating
ELECTRIC
Cooling
AC.FAN COOLING
Stories
1
Rooms
1
Total area
6,500 SF
Lot
0.68 ac (29,621 SF)
Zoning code
OH
APN
R13335-298-3380
UPID
US90-0277909
Jurisdiction
ISLAND
Zoning & alternative use
OH · Oak Harbor, WA
Zoning OH · permitted uses
OH · Oak Harbor, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Oak Harbor. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$885,000
RESTAURANT
Est. value
$920,000
OFFICE BUILDING Current
RESTAURANT
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
1978
Heating
ELECTRIC
Cooling
Yes
Stories
1
Rooms
1
Lot
0.68 ac
Current owner
From public records · entity-resolved
James A Neilon
Individual
Mailing address
1065 AMERICAN LN, COUPEVILLE, WA 98239-9793
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2018
—
James A Neilon
Neilon,theresa P
Quit Claim Deed
related
—
Mar 9, 2018
$950,000
James A Neilon
Balda,john
Warranty Deed
$750,000 · John & Lenora O Balda
—
—
John P Balda
—
Deed Of Trust
related
$220,000 · Whidbey Island Bank
—
—
John P Balda
—
Deed Of Trust
related
$235,000 · Us Bank NA
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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