Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,260,000
Warehouses
406 Alder Ave Granite Falls, WA 98252
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1415033
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1999
Construction
WOOD
Total area
12,376 SF
Lot
1.19 ac (51,836 SF)
Zoning code
I0
APN
30071800308200
UPID
US90-1415033
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
$3.25M
CAP Approach
CAP
$2.08M
Comparable Approach
Comparable
$3.74M
Blend (final)
Blend
$3.26M
Owner & transaction history
Gw Granite Falls LLC · 2 yrs held
Gw Granite Falls LLC
since 2023
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
I0 · Granite Falls, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.4M
+50.2%
Apartment house (5+ units)
$5.1M
+43.2%
Medical building
$4.8M
+35.2%
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 Granite Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Granite Falls 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
$3,370,000
ML approach
$3,245,000
CAP Approach
CAP Return
Estimation
6%
$2,250,000
6.5%
$2,080,000
7%
$1,930,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,575,000
Current use
AUTO REPAIR, GARAGE
$5,370,000
Change: +50% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$5,120,000
Change: +43% · Conversion: Difficult
MEDICAL BUILDING
$4,830,000
Change: +35% · Conversion: Difficult
OFFICE BUILDING
$4,415,000
Change: +23% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,750,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$3,605,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$3.26M
Range $2.93M – $3.59M · ±10% · vs last sale $3.22M (Sep 22 2023)
Last sale anchor
$3.22M
Sep 22 2023
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
$263 / 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
$17,152
Tax year 2023
Assessed value
$2,097,300
Assessed 2023
Previous assessed
$1,894,000
+10.7% YoY
Effective rate
0.82%
On assessed value
Assessed land
$621,500
Assessed improvement
$1,475,800
Land market value
$621,500
Improvement market value
$1,475,800
Total market value
$2,097,300
Applied tax rate
304.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
6
Stories
1
Rooms
5
Bathrooms
1
Total area
12,376 SF
Lot
1.19 ac (51,836 SF)
Zoning code
I0
APN
30071800308200
UPID
US90-1415033
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I0 · Granite Falls, WA
Zoning I0 · permitted uses
I0 · Granite Falls, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Granite Falls. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$5.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$4.8M
OFFICE BUILDING
Est. value
$4.4M
COMMERCIAL (GENERAL)
Est. value
$3.8M
RETAIL STORES
Est. value
$3.6M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
6
Rooms
5
Bathrooms
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Gw Granite Falls LLC
Entity
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2026
—
Gw Granite Falls LLC
—
Deed
related
$133,000,000 · Wellsfargobankna
Feb 25, 2025
—
Gw Granite Falls LLC
—
Deed
related
$50,000,000 · Wells Fargo Bank NA
Sep 22, 2023
$3,218,432
Gw Granite Falls LLC
Granite Falls Mini Storage INC
Warranty Deed
$4,100,000 · Coastal Community Bank
Apr 20, 2015
—
Granite Falls Mini Storage INC
David C Perrigoue
Quit Claim Deed
related
$1,820,000 · C-iii Commercial Mortgage LLC
Mar 4, 2008
—
Mobilitie Investments LLC
—
Deed Of Trust
related
$85,000,000 · Toronto Dominion Texas INC
Jun 18, 1998
—
David C Perrigoue
—
Grant Deed
related
$509,332 · Frontier Bank
Jun 30, 1997
—
Wallace Mackie
Perrigoue,david G & Ann
Quit Claim Deed
related
—
Sep 1, 1988
$55,000
David C Perrigoue
Unknown
Grant Deed
$52,250 · Seller
—
—
David C Perrigoue
—
Deed Of Trust
related
$200,000 · Home Lending Assoc INC
—
—
David C Perrigoue
—
Deed Of Trust
related
$463,808 · Frontier Bank
—
—
David C Perrigoue
—
Deed Of Trust
related
$900,000 · Coastal Community Bank
—
—
David C Perrigoue
—
Deed Of Trust
related
$100,000 · Coastal Community 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 406 Alder Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
