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Property profile & analytics
OFF-MARKET
Estimated value
$4,400,000
Warehouses
505 Strander Blvd Tukwila, WA 98188-2920
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1049534
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,136 SF
Lot
1.07 ac (46,683 SF)
Zoning code
TUC-TOD
APN
022320-0061
UPID
US90-1049534
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
$4.40M
CAP Approach
CAP
$2.73M
Comparable Approach
Comparable
$5.17M
Blend (final)
Blend
$4.40M
Owner & transaction history
Demar Holdings Seattle LLC · 2 yrs held
Demar Holdings Seattle LLC
since 2024
Last sale
$4.4M
6 recorded transactions
Zoning & alternative use
TUC-TOD · Tukwila, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The area extending from the bus transit center on Andover Park West eastward towards the Sounder commuter rail or Amtrak station is intended to provide a more compact and vibrant mix of housing, office, lodging and supportive retail and service uses
Zone name
Tukwila Urban Center Transit Oriented Development
General category
COMMERCIAL
Zone area
181.89 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$6.6M
+39.3%
Retail stores
$6.5M
+35.7%
Apartment house (5+ units)
$5.7M
+20.1%
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 Tukwila submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tukwila 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
$4,400,000
ML approach
$4,400,000
CAP Approach
CAP Return
Estimation
6%
$2,955,000
6.5%
$2,730,000
7%
$2,535,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,765,000
Current use
AUTO REPAIR, GARAGE
$6,640,000
Change: +39% · Conversion: Easy
RETAIL STORES
$6,470,000
Change: +36% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$5,725,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$5,700,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$5,550,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$4.40M
Range $3.96M – $4.84M · ±10% · vs last sale $4.40M (Jun 11 2024)
Last sale anchor
$4.40M
Jun 11 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
$273 / 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
$35,436
Tax year 2024
Assessed value
$2,963,500
Assessed 2023
Previous assessed
$2,963,500
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$1,633,900
Assessed improvement
$1,329,600
Land market value
$1,633,900
Improvement market value
$1,329,600
Total market value
$2,963,500
Applied tax rate
2,426.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
ELECTRIC
Cooling
CENTRAL
Stories
2
Total area
16,136 SF
Lot
1.07 ac (46,683 SF)
Zoning code
TUC-TOD
APN
022320-0061
UPID
US90-1049534
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TUC-TOD · Tukwila, WAZoning TUC-TOD · permitted uses
TUC-TOD · Tukwila, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The area extending from the bus transit center on Andover Park West eastward towards the Sounder commuter rail or Amtrak station is intended to provide a more compact and vibrant mix of housing, office, lodging and supportive retail and service uses
Zone name
Tukwila Urban Center Transit Oriented Development
General category
COMMERCIAL
Zone area
181.89 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$6.6M
RETAIL STORES
Est. value
$6.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.7M
OFFICE BUILDING
Est. value
$5.7M
MEDICAL BUILDING
Est. value
$5.6M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL 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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
ELECTRIC
Cooling
Yes
Stories
2
Lot
1.07 ac
Current owner
From public records · entity-resolved
Demar Holdings Seattle LLC
Entity
Mailing address
1010 6TH AVE N, KENT, WA 98032-2938
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2024
$4,400,000
Demar Holdings Seattle LLC
Wolverine Properties LLC
Warranty Deed
$3,520,000 · Umpqua Bank
Jul 6, 2020
—
Wolverine Properties LLC
—
Deed
related
—
Nov 19, 1996
—
Wolverine Properties LLC
Wolverine Properties
Quit Claim Deed
related
$850,000 · Business Men's Assurance Co
—
—
Wolverine Properties LLC
—
Deed Of Trust
related
$1,050,000 · Boeing Emps Cu
—
—
Wolverine Properties LLC
—
Loan Modification
related
—
—
—
Wolverine Properties LLC
—
Deed Of Trust
related
$1,100,000 · American Equity Inv Life Ins
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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