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Property profile & analytics
OFF-MARKET Estimated value $1,555,000
Apartment buildings

4928 115th St SW Ct Lakewood, WA 98499

6,660 SF 0.51 ac lot Built 1961
Entity Owned ~ Est. High Equity
Property ID
US90-1040972
Property summary
AI-generated overview

This exceptional Lakewood, WA property, the Tyee Building (APN 2650000110), offers a versatile 1,200 square foot retail space, perfect for a variety of businesses. Located at 4928 115th St Ct SW, 98499, this single-tenant space is part of a larger 7,418 square foot, two-story building constructed in 1961 and extensively renovated in 2024. The building features a convenient mixed-use design, combining retail space on the ground floor with residential units above. This prime location boasts excellent visibility and accessibility, situated off Bridgeport Way, within walking distance of the Sound Train Station, and minutes from I-5, McChord Air Base, and the Lakewood retail center. The space includes front and back entrances, providing convenient access for customers and ample parking is available both in front and behind the building, with a total of 22 spaces. The property sits on a 0.51-acre lot. This Class C building is ready for immediate occupancy. The lease rate is competitively priced at $10 per square foot annually, plus a $150 monthly utility fee, resulting in a total annual lease rate of $13,800. The building does not have elevators.

Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1961
Construction WOOD FRAME
Total area 6,660 SF
Lot 0.51 ac (22,387 SF)
Zoning code TOC
APN 2650000110
UPID US90-1040972
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
$1.76M
CAP Approach CAP
$1.24M
Comparable Approach Comparable
$1.36M
Blend (final) Blend
$1.56M
Owner & transaction history
Lakewood 7 LLC
Lakewood 7 LLC
since 2025
Last sale
$1.6M
7 recorded transactions
2025
Price N/A
2021
$1.6M
2019
$425,000
2019
Price N/A
2008
Price N/A
1988
$560,000
1969
Price N/A
Zoning & alternative use
TOC · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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