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Property profile & analytics
OFF-MARKET
Estimated value
$820,000
Parking lots & garages
508 1st St, Aberdeen, WA 98520
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0416442
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1920
Total area
3,957 SF
Lot
0.15 ac (6,534 SF)
APN
11400400900
UPID
US90-0416442
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
$870k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$820k
Owner & transaction history
Lb2 LLC · 3 yrs held
Lb2 LLC
since 2022
Last sale
$725,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$620,000
+15.8%
Office building
$615,000
+15.6%
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 Aberdeen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Aberdeen 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
$955,000
ML approach
$870,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$535,000
Current use
MEDICAL BUILDING
$620,000
Change: +16% · Conversion: Difficult
OFFICE BUILDING
$615,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$820k
Range $738k – $902k · ±10% · vs last sale $725k (Jul 28 2022)
Last sale anchor
$725k
Jul 28 2022
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
$207 / 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
$585
Tax year 2023
Assessed value
$57,819
Assessed 2022
Previous assessed
$50,019
+15.6% YoY
Effective rate
1.01%
On assessed value
Assessed land
$46,800
Assessed improvement
$11,019
Land market value
$46,800
Improvement market value
$11,019
Total market value
$57,819
Applied tax rate
5.0000
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1920
Heating
NONE
Total area
3,957 SF
Lot
0.15 ac (6,534 SF)
APN
11400400900
UPID
US90-0416442
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
PARKING LOT Current
Est. value
$535,000
MEDICAL BUILDING
Est. value
$620,000
OFFICE BUILDING
Est. value
$615,000
PARKING LOT Current
MEDICAL BUILDING
OFFICE 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
1920
Heating
NONE
Lot
0.15 ac
Current owner
From public records · entity-resolved
Lb2 LLC
Entity
Mailing address
5575 MUTINY BAY RD, FREELAND, WA 98249-9500
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2022
$725,000
Lb2 LLC
Jes Properties LLC
Warranty Deed
$326,139 · Heritage Southeast Bank
Oct 1, 2018
$350,000
Jes Properties LLC
Aberdeen Washington Congregati
Grant Deed
—
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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