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Property profile & analytics
OFF-MARKET
Estimated value
$2,755,000
Commercial land
4440 3rd SE Ave, Lacey, WA 98503-1021
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-1217259
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
2007
Construction
WOOD FRAME
Total area
36,736 SF
Lot
0.97 ac (42,253 SF)
APN
1181-74-10203
UPID
US90-1217259
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.76M
Owner & transaction history
Beong H Choi · 10 yrs held
Beong H Choi
since 2016
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 Lacey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lacey 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$75 / 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
$5,874
Tax year 2023
Assessed value
$617,400
Assessed 2022
Previous assessed
$881,000
-29.9% YoY
Effective rate
0.95%
On assessed value
Assessed land
$617,400
Land market value
$617,400
Total market value
$617,400
Applied tax rate
241.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
2007
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
4
Total area
36,736 SF
Lot
0.97 ac (42,253 SF)
APN
1181-74-10203
UPID
US90-1217259
Jurisdiction
THURSTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2007
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
4
Lot
0.97 ac
Current owner
From public records · entity-resolved
Beong H Choi
Individual
Mailing address
4440 3RD AVE SE, LACEY, WA 98503-1021
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 27, 2016
$8,300,000
Beong H Choi
Circadia Management LLC
Grant Deed
$6,465,000 · Unibank
May 24, 2016
—
Circadia Management LLC
Ncc Properties LLC
Quit Claim Deed
related
—
Dec 8, 2014
—
State Of Wa Department & Transporta
Ncc Properties LLC
Grant Deed
—
Apr 2, 2013
—
Ncc Properties LLC
Circadia Management LLC
Warranty Deed
—
Jul 3, 2012
—
Circadia Management LLC
Reverse Now IV LLC
Warranty Deed
—
Aug 28, 2009
$5,320,000
Ncc Properties LLC
Leo Hotel LLC
Quit Claim Deed
related
$5,000,000 · Wells Fargo Bank NA
Aug 30, 2007
$654,800
Leo Hotel LLC
Olympic Hospitality LLC
Warranty Deed
—
Nov 30, 2005
$1,177,253
Olympic Hospitality LLC
Helstrom Charitable Remainder
Warranty Deed
$398,230 · Han Kim
Nov 30, 2005
—
Charitable Remainder Helstrom
Helstrom,robert L & Yvonne E
Quit Claim Deed
related
—
—
—
Ncc Properties LLC
—
Deed Of Trust
related
$5,000,000 · Wells Fargo 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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