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Property profile & analytics
OFF-MARKET
Estimated value
$1,445,000
Warehouses
381 Equestrian Dr Poulsbo, WA 98370
Entity Owned
25-yr Hold
Free & Clear
Property ID
US90-0758489
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1999
Total area
13,360 SF
Lot
3.39 ac (147,668 SF)
Zoning code
LI
APN
5016-000-002-0009
UPID
US90-0758489
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.97M
Comparable Approach
Comparable
$977k
Blend (final)
Blend
$1.45M
Owner & transaction history
Gts Drywall Supply Co · 25 yrs held
Gts Drywall Supply Co
since 2001
5 recorded transactions
Zoning & alternative use
LI · Poulsbo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ctured Home Park Overlay MHPO Commercial Downtown/Front Street C-1 Viking Avenue C-2 SR 305 Corridor C-3 College MarketPlace C-4 Business and Employment Office Commercial Industrial OCI Business Park BP Light Industrial LI Park P Master Plan Overlay MPO ( Ord. 2003-10 § 1 (Exh. A, I(G)(1)), 2003. Formerly 18.12.010 ; Ord. 2013-04 § 2 (Exh. A (part)), 2013 ;…
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
82.99 ac
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 Poulsbo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Poulsbo 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%
$2,130,000
6.5%
$1,970,000
7%
$1,830,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,320,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$1.45M
Range $1.30M – $1.59M · ±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
$108 / 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
$10,548
Tax year 2024
Assessed value
$1,257,310
Assessed 2024
Previous assessed
$1,161,890
+8.2% YoY
Effective rate
0.84%
On assessed value
Assessed land
$302,810
Assessed improvement
$954,500
Land market value
$302,810
Improvement market value
$954,500
Total market value
$1,257,310
Applied tax rate
4,370.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Heating
YES
Buildings
2
Stories
1
Total area
13,360 SF
Lot
3.39 ac (147,668 SF)
Zoning code
LI
APN
5016-000-002-0009
UPID
US90-0758489
Jurisdiction
KITSAP
Zoning & alternative use
LI · Poulsbo, WAZoning LI · permitted uses
LI · Poulsbo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ctured Home Park Overlay MHPO Commercial Downtown/Front Street C-1 Viking Avenue C-2 SR 305 Corridor C-3 College MarketPlace C-4 Business and Employment Office Commercial Industrial OCI Business Park BP Light Industrial LI Park P Master Plan Overlay MPO ( Ord. 2003-10 § 1 (Exh. A, I(G)(1)), 2003. Formerly 18.12.010 ; Ord. 2013-04 § 2 (Exh. A (part)), 2013 ; Ord. 2025-10 § 2 (Exh. A), 2025 ) § 18.60.030 Establishment of map. The designatio
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
82.99 ac
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.3M
AUTO REPAIR, GARAGE
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
1999
Heating
YES
Stories
1
Buildings
2
Lot
3.39 ac
Current owner
From public records · entity-resolved
Gts Drywall Supply Co
Entity
Free & Clear · 25 yrs held
Mailing address
PO BOX 97090, KIRKLAND, WA 98083-9790
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2001
$825,000
Gts Drywall Supply Co
Apanage Corp
Grant Deed
—
Mar 13, 1998
$275,000
Apanage Corp
Glenn R Swanlund Estate
Grant Deed
$200,000 · Seafirst Bank
Nov 20, 1997
—
Mutual Enterprises INC
Duren,rebecca M
Grant Deed
related
—
—
—
Apange Corp
—
Deed Of Trust
related
$480,000 · Seafirst Bank
—
—
Apange Corp
—
Deed Of Trust
related
$480,000 · Seafirst 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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