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Property profile & analytics
OFF-MARKET
Estimated value
$945,000
Retail space
3711 Steilacoom SW Blvd Lakewood, WA 98499-4501
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0956132
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1951
Construction
WOOD FRAME
Total area
3,196 SF
Lot
0.33 ac (14,400 SF)
Zoning code
C2
APN
220364016
UPID
US90-0956132
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
-
Jung Barber & Beauty Barber Shop
-
Rose spa Alternative Medicine Practice Spa & Massage Center
-
EL CUADRILATERO Food Processing Plant Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$730k
Blend (final)
Blend
$945k
Owner & transaction history
Mark Okano · 3 yrs held
Mark Okano
since 2022
Last sale
$930,000
3 recorded transactions
Zoning & alternative use
C2 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Commercial zoning districts promote employment, services, retail, and business uses serving and linking neighborhoods to Lakewood's major transportation networks
Zone name
Commercial 2
General category
COMMERCIAL
Zone area
295.24 ac
Source
Realmo
Top alternative use upside
Neighborhood: shopping center
$1.4M
+70.5%
Auto repair, garage
$1.2M
+47.6%
Commercial (general)
$1.0M
+25.8%
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
$970,000
ML approach
$1,155,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$800,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,360,000
Change: +70% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,180,000
Change: +48% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,005,000
Change: +26% · Conversion: Easy
MEDICAL BUILDING
$875,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$945k
Range $851k – $1.04M · ±10% · vs last sale $930k (Sep 7 2022)
Last sale anchor
$930k
Sep 7 2022
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
$296 / 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
$6,161
Tax year 2024
Assessed value
$557,900
Assessed 2024
Previous assessed
$557,900
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$430,900
Assessed improvement
$127,000
Land market value
$430,900
Improvement market value
$127,000
Total market value
$557,900
Applied tax rate
760.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1951
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
3,196 SF
Lot
0.33 ac (14,400 SF)
Zoning code
C2
APN
220364016
UPID
US90-0956132
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C2 · Lakewood, WAZoning C2 · permitted uses
C2 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Commercial zoning districts promote employment, services, retail, and business uses serving and linking neighborhoods to Lakewood's major transportation networks
Zone name
Commercial 2
General category
COMMERCIAL
Zone area
295.24 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$800,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$875,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL 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
1951
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Mark Okano
Individual
Mailing address
6014 ARTONDALE DR NW, GIG HARBOR, WA 98335-5618
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2022
$930,000
Mark Okano
Jae Kyu Kim
Warranty Deed
$230,000 · Jae Kyu Kim Etal
Feb 29, 2000
$5,700
Lakewood City (wa)
Kim,jae J & Yon H
Grant Deed
—
Mar 12, 1990
$290,000
Jae Kyu Kim
Partridge,john B
Grant Deed
$190,000 · Partridge John B
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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