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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Office buildings
407 Simpson Ave Hoquiam, WA 98550-2414
Individually Owned
2-yr Hold
Free & Clear
Property ID
US90-0487509
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1968
Construction
STEEL FRAME
Total area
2,240 SF
Lot
0.18 ac (7,841 SF)
APN
51802200203
UPID
US90-0487509
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
-
Coastal Sewer & Drain Aberdeen Hoquiam Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$505k
CAP Approach
CAP
$515k
Comparable Approach
Comparable
$318k
Blend (final)
Blend
$505k
Owner & transaction history
Annie Oi Fun Lee · 2 yrs held
Annie Oi Fun Lee
since 2024
Last sale
$505,000
7 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 Hoquiam submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hoquiam 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
$505,000
ML approach
$505,000
CAP Approach
CAP Return
Estimation
6%
$560,000
6.5%
$515,000
7%
$480,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$430,000
Current use
COMMERCIAL (GENERAL)
$365,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $505k (Apr 19 2024)
Last sale anchor
$505k
Apr 19 2024
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
$225 / 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
$2,830
Tax year 2024
Assessed value
$261,592
Assessed 2023
Previous assessed
$261,592
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$32,938
Assessed improvement
$228,654
Land market value
$32,938
Improvement market value
$228,654
Total market value
$261,592
Applied tax rate
28.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1968
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Stories
2
Total area
2,240 SF
Lot
0.18 ac (7,841 SF)
APN
51802200203
UPID
US90-0487509
Jurisdiction
GRAYS HARBOR
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 Current
Est. value
$430,000
COMMERCIAL (GENERAL)
Est. value
$365,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1968
Construction
STEEL FRAME
Heating
NONE
Stories
2
Buildings
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
Annie Oi Fun Lee
Individual
Free & Clear · 2 yrs held
Mailing address
159 OLIVER ST, COLMA, CA 94014-1320
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2024
—
Annie Oi Fun Lee
Annie Oi Fun Lee
Intrafamily Transfer
related
—
Nov 3, 2023
$505,000
Annie Oi Fun Lee
Zone Holdings LLC
Warranty Deed
$322,000 · General Mortgage Capital Corp
Mar 2, 2023
—
Zone Holdings LLC
—
Deed
related
$190,000 · Tnw Funs LLC
Sep 22, 2020
—
Zone Holdings LLC
Csb Holdings LLC
Quit Claim Deed
related
$190,000 · Tnw Fund LLC
Oct 5, 2018
$110,000
Csb Holdings LLC
Veristone Fund I LLC
Warranty Deed
$175,850 · Veristone Fund I LLC
Aug 3, 2017
$115,000
Veristone Fund I LLC
Quality Loan Svc Corp Of Was|morgan Mckinley LLC
Trustees Deed
related
—
Mar 7, 2016
—
Morgan Mckinley LLC
—
Trustees Deed
related
$146,250 · Veristone Fund I LLC Veristone Fund I LLC
Sep 10, 2012
$126,000
Morgan Mckinley LLC
Spot-hoquiam LLC
Warranty Deed
$75,000 · Wadot Capital INC
Aug 15, 2006
—
Spot-hoquiam LLC
American Meter & Appliance INC
Grant Deed
related
—
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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