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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Warehouses
3411 Chapel S St Lakewood, WA 98499-8884
Individually Owned
1-yr Hold
Free & Clear
Property ID
US90-1216593
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1980
Construction
WOOD FRAME
Total area
7,000 SF
Lot
0.54 ac (23,692 SF)
Zoning code
AC1
APN
319067001
UPID
US90-1216593
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
-
Horizon Distributors Agricultural Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.32M
Comparable Approach
Comparable
$797k
Blend (final)
Blend
$990k
Owner & transaction history
State Of Washington · 1 yrs held
State Of Washington
since 2025
4 recorded transactions
Zoning & alternative use
AC1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the Air Corridor 1 zoning districts is to promote land use and development that is compatible with the aircraft noise and accident potential associated with the proximity to Joint Base Lewis McChord aircraft flight operations
Zone name
Air Corridor 1
General category
UNKNOWN
Zone area
339.29 ac
Source
Realmo
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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%
$1,425,000
6.5%
$1,315,000
7%
$1,220,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,070,000
Current use
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±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
$141 / 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
$8,941
Tax year 2024
Assessed value
$741,100
Assessed 2024
Previous assessed
$741,100
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$361,700
Assessed improvement
$379,400
Land market value
$361,700
Improvement market value
$379,400
Total market value
$741,100
Applied tax rate
761.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1980
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Units
1
Total area
7,000 SF
Lot
0.54 ac (23,692 SF)
Zoning code
AC1
APN
319067001
UPID
US90-1216593
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
AC1 · Lakewood, WAZoning AC1 · permitted uses
AC1 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the Air Corridor 1 zoning districts is to promote land use and development that is compatible with the aircraft noise and accident potential associated with the proximity to Joint Base Lewis McChord aircraft flight operations
Zone name
Air Corridor 1
General category
UNKNOWN
Zone area
339.29 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.1M
WAREHOUSE, STORAGE Current
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
1980
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Units
1
Lot
0.54 ac
Current owner
From public records · entity-resolved
State Of Washington
Individual
Free & Clear · 1 yrs held
Mailing address
PO BOX 98922, LAKEWOOD, WA 98496-8922
Ownership since
2025
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
Feb 3, 2025
—
State Of Washington
Evergreen Business Park LLC
Deed
—
Oct 25, 2012
—
Evergreen Business Park LLC
Evergreen Business Park Ptshp
Quit Claim Deed
related
—
—
—
Evergreen Business Park LLC
—
Deed Of Trust
related
$1,000,000 · Anchor Bank NA
—
—
Evergreen Business Park Ptshp
—
Deed Of Trust
related
$557,000 · 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.
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