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Property profile & analytics
OFF-MARKET
Estimated value
$3,090,000
Outlet malls
385 Penny Rd Ste 101 Wenatchee, WA 98801-8123
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1987242
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1914
Total area
8,560 SF
Lot
0.93 ac (40,511 SF)
APN
232028110650
UPID
US90-1987242
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
$3.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.09M
Owner & transaction history
Penny Road Properties LLC · 3 yrs held
Penny Road Properties LLC
since 2022
Last sale
$3.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.8M
+67.5%
Auto repair, garage
$2.3M
+39.1%
Apartment house (5+ units)
$2.2M
+33.1%
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 Wenatchee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wenatchee 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
$3,200,000
ML approach
$3,160,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,750,000
Change: +67% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,285,000
Change: +39% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,185,000
Change: +33% · Conversion: Difficult
OFFICE BUILDING
$2,020,000
Change: +23% · Conversion: Easy
Blend value · Realmo final
$3.09M
Range $2.78M – $3.40M · ±10% · vs last sale $3.00M (Sep 30 2022)
Last sale anchor
$3.00M
Sep 30 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
$361 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$7,256
Tax year 2023
Assessed value
$817,524
Assessed 2022
Previous assessed
$611,397
+33.7% YoY
Effective rate
0.89%
On assessed value
Assessed land
$283,576
Assessed improvement
$533,948
Land market value
$283,576
Improvement market value
$533,948
Total market value
$817,524
Applied tax rate
804.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1914
Heating
NONE
Total area
8,560 SF
Lot
0.93 ac (40,511 SF)
APN
232028110650
UPID
US90-1987242
Jurisdiction
CHELAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.0M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE 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
1914
Heating
NONE
Lot
0.93 ac
Current owner
From public records · entity-resolved
Penny Road Properties LLC
Entity
Mailing address
638 VLY MALL PKWY STE #200, EAST WENATCHEE, WA 98802-4838
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2022
—
Penny Road Properties LLC
—
Deed
related
$900,000 · Ecp Opportunities Fund I LP
Sep 30, 2022
$3,000,000
Penny Road Properties LLC
Shippers Properties LLC
Warranty Deed
$2,100,000 · Shippers Properties LLC
Apr 26, 2017
—
Shippers Properties LLC
—
Deed
related
$124,464 · Peoples Bk
Jul 8, 2016
—
Shippers Property LLC
Port Of Chelan County
Warranty Deed
—
Oct 14, 2005
—
Shippers Properties LLC
Port Of Chelan County
Bargain And Sale Deed
$404,659 · Peoples Bank
—
—
Shippers Properties LLC
—
Loan Modification
related
$805,772 · Peoples Bank & Trust
—
—
Shippers Properties LLC
—
Loan Modification
related
$124,464 · Peoples Bk
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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