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Property profile & analytics
OFF-MARKET
Estimated value
$18,885,000
Strip malls
3311 Bethel SE Rd Port Orchard, WA 98366-5600
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-0694058
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Total area
89,503 SF
Lot
9.24 ac (402,494 SF)
Zoning code
CITY
APN
012301-2-111-2009
UPID
US90-0694058
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
-
T-Mobile Authorized Retailer Mobile Phone Store Electronics & Wireless Store
-
Jones Chiropractic Alternative Medicine Practice
-
Nilsson Audiology & Hearing Aid Clinic, LLC Physician
-
Joy K. Nilsson, AUD Physician
-
O'Reilly Auto Parts Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.79M
Blend (final)
Blend
$18.89M
Owner & transaction history
Safeway INC · 9 yrs held
Safeway INC
since 2017
7 recorded transactions
Zoning & alternative use
CITY · Port Orchard, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$24.6M
+7.9%
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 Port Orchard submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Port Orchard 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
NEIGHBORHOOD: SHOPPING CENTER
$22,835,000
Current use
RETAIL STORES
$24,640,000
Change: +8% · Conversion: Easy
OFFICE BUILDING
$22,285,000
Change: -2% · Conversion: Moderate
MEDICAL BUILDING
$21,730,000
Change: -5% · Conversion: Difficult
WAREHOUSE, STORAGE
$18,305,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$18.89M
Range $17.00M – $20.77M · ±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
$211 / 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
$190,842
Tax year 2024
Assessed value
$22,668,440
Assessed 2024
Previous assessed
$21,429,740
+5.8% YoY
Effective rate
0.84%
On assessed value
Assessed land
$1,846,880
Assessed improvement
$20,821,560
Land market value
$1,846,880
Improvement market value
$20,821,560
Total market value
$22,668,440
Applied tax rate
810.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Heating
YES
Buildings
8
Stories
1
Total area
89,503 SF
Lot
9.24 ac (402,494 SF)
Zoning code
CITY
APN
012301-2-111-2009
UPID
US90-0694058
Jurisdiction
KITSAP
Zoning & alternative use
CITY · Port Orchard, WA
Zoning CITY · permitted uses
CITY · Port Orchard, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Port Orchard. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$22.8M
RETAIL STORES
Est. value
$24.6M
OFFICE BUILDING
Est. value
$22.3M
MEDICAL BUILDING
Est. value
$21.7M
WAREHOUSE, STORAGE
Est. value
$18.3M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
OFFICE BUILDING
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1989
Heating
YES
Stories
1
Buildings
8
Lot
9.24 ac
Current owner
From public records · entity-resolved
Safeway INC
Entity
Mailing address
973 LOMAS SANTA FE DR, SOLANA BEACH, CA 92075-2137
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2024
—
Bethel Grf2 LLC
—
Deed
related
—
May 31, 2019
—
Bethel Grf2 LLC
—
Loan Modification
related
$15,200,000 · Bank Of America
Feb 16, 2017
—
Safeway INC
Hh Fuel LLC
Quit Claim Deed
related
—
Jul 2, 2015
—
Haggen Fuel Holdings LLC
Safeway INC
Quit Claim Deed
related
—
Jul 24, 2014
$20,800,000
Bethel Garp LLC
Tavitac Bethel LLC
Grant Deed
related
—
Aug 4, 2010
—
Tavitac Bethel LLC
—
Deed Of Trust
related
$10,000,000 · Prudential Mortgage Capital Co
Jul 15, 1997
—
Tavitac Corp
—
Deed Of Trust
related
$9,200,000 · Seafirst Bank
Jan 31, 1990
—
Tavitac Corporation
Unknown
Grant Deed
related
—
—
—
Tavitac Bethel LLC
—
Deed Of Trust
related
$13,700,000 · Prudential Mortgage Capital Co
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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