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Property profile & analytics
OFF-MARKET
Estimated value
$1,600,000
Office Spaces
402 Commercial Ave Anacortes, WA 98221-1519
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-3281750
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1890
Total area
11,542 SF
Lot
0.17 ac (7,536 SF)
APN
3772-033-005-0105
UPID
US90-3281750
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
-
ONE Real Estate Anacortes Real Estate Agency
-
Lana Thompson Real Estate Agency
-
Shaina Doyle, ONE Realty Real Estate Agency
-
Leah Courage, Real Estate Professional - The Courage Group Real Estate Agency
-
Larry Prier Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.68M
CAP Approach
CAP
$1.67M
Comparable Approach
Comparable
$2.12M
Blend (final)
Blend
$1.60M
Owner & transaction history
Nettle Lane The Platt LLC · 5 yrs held
Nettle Lane The Platt LLC
since 2021
Last sale
$1.6M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Anacortes submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Anacortes 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
$2,025,000
ML approach
$1,675,000
CAP Approach
CAP Return
Estimation
6%
$1,800,000
6.5%
$1,665,000
7%
$1,545,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,650,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$1.60M
Range $1.44M – $1.76M · ±10% · vs last sale $1.58M (Apr 15 2021)
Last sale anchor
$1.58M
Apr 15 2021
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
$139 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$8,814
Tax year 2022
Assessed value
$1,031,200
Assessed 2021
Previous assessed
$1,031,200
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$305,600
Assessed improvement
$725,600
Land market value
$305,600
Improvement market value
$725,600
Total market value
$1,031,200
Applied tax rate
900.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1890
Heating
NONE
Total area
11,542 SF
Lot
0.17 ac (7,536 SF)
APN
3772-033-005-0105
UPID
US90-3281750
Jurisdiction
SKAGIT
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
OFFICE BUILDING
Est. value
$2.7M
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
1890
Heating
NONE
Lot
0.17 ac
Current owner
From public records · entity-resolved
Nettle Lane The Platt LLC
Entity
Mailing address
6875 W SHR DR, ANACORTES, WA 98221-9589
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 23, 2023
—
Nettle Lane The Platt LLC
—
Deed
related
$195,000 · Savibank
Apr 15, 2021
$1,575,000
Nettle Lane The Platt LLC
Platt Building Properties LLC
Warranty Deed
$1,060,000 · Savibank
Jan 7, 2011
—
Platt Building Properties LLC
Peterson,stephen F & Donald D
Quit Claim Deed
related
—
Apr 11, 2006
—
Stephen F Peterson
Peterson,stephen F
Quit Claim Deed
related
—
Sep 2, 2005
—
Peterson Family Trust
Peterson Family Trust
Quit Claim Deed
related
—
Jul 18, 2005
$145,000
Peterson Trust
Duryee,margaret
Warranty Deed
$80,000 · Margaret Duryee
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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