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Property profile & analytics
OFF-MARKET
Estimated value
$3,025,000
Warehouses
3727 112th SW St Lakewood, WA 98499-4628
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1620224
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,673 SF
Lot
0.63 ac (27,443 SF)
Zoning code
I1
APN
219018008
UPID
US90-1620224
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
-
Commercial Hardware Specialty Building Supply Hardware & Home Improvement
-
Unicatch Building Supply Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.48M
CAP Approach
CAP
$3.32M
Comparable Approach
Comparable
$2.74M
Blend (final)
Blend
$3.03M
Owner & transaction history
Welle INC · 5 yrs held
Welle INC
since 2020
Last sale
$2.6M
7 recorded transactions
Zoning & alternative use
I1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Industrial 1 zoning district provides for regional research, light manufacturing, warehousing, concentrated business or employment parks, and other major regional employment uses
Zone name
Industrial 1
General category
INDUSTRIAL
Zone area
300.90 ac
Source
Realmo
Top alternative use upside
Medical building
$4.9M
+79.2%
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
$3,410,000
ML approach
$3,475,000
CAP Approach
CAP Return
Estimation
6%
$3,595,000
6.5%
$3,320,000
7%
$3,085,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,705,000
Current use
MEDICAL BUILDING
$4,850,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$3.03M
Range $2.72M – $3.33M · ±10% · vs last sale $2.60M (Dec 21 2020)
Last sale anchor
$2.60M
Dec 21 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
$171 / 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
$28,001
Tax year 2024
Assessed value
$2,548,300
Assessed 2024
Previous assessed
$2,548,300
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$526,500
Assessed improvement
$2,021,800
Land market value
$526,500
Improvement market value
$2,021,800
Total market value
$2,548,300
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
1
Total area
17,673 SF
Lot
0.63 ac (27,443 SF)
Zoning code
I1
APN
219018008
UPID
US90-1620224
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
I1 · Lakewood, WAZoning I1 · permitted uses
I1 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Industrial 1 zoning district provides for regional research, light manufacturing, warehousing, concentrated business or employment parks, and other major regional employment uses
Zone name
Industrial 1
General category
INDUSTRIAL
Zone area
300.90 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$4.9M
WAREHOUSE, STORAGE Current
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
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Units
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
Welle INC
Entity
Mailing address
3727 112TH ST SW, LAKEWOOD, WA 98499-4628
Mailing matches property
Yes
Owner-occupied
Yes
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
Dec 21, 2020
—
Welle INC
Al Welle INC
Quit Claim Deed
related
—
Dec 21, 2020
$2,600,000
L A R K LLC
Lakewood Warehouse LLC
Bargain And Sale Deed
$1,600,000 · Citizens Bank & Trust Co
Nov 5, 2020
—
Lakewood Warehouse LLC
Welle INC
Quit Claim Deed
related
—
Sep 17, 2019
—
Welle INC
—
Deed
related
$364,781 · Patricia Welle
Jul 31, 2017
—
Welle INC
Al Welle INC
Quit Claim Deed
related
—
Aug 7, 2003
—
Al Welle INC
Welle Warehouse LLC
Quit Claim Deed
related
—
Jan 9, 1998
—
Welle Warehouse LLC
Welle,alois J & Patricia E
Quit Claim Deed
related
—
Apr 11, 1991
$82,280
Al Welle
Unknown
Grant Deed
—
—
—
Welle INC
—
Deed Of Trust
related
$364,781 · Patricia Welle
—
—
Al J Welle
—
Deed Of Trust
related
$509,418 · Columbia State Bank
—
—
Al Welle INC
—
Deed Of Trust
related
$940,000 · Welle Warehouse LLC
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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