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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Retail space
5105 Solberg SW Dr Lakewood, WA 98499-3391
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-3197964
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1953
Construction
WOOD FRAME
Total area
4,920 SF
Lot
0.65 ac (28,328 SF)
Zoning code
NC2
APN
219114191
UPID
US90-3197964
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
-
Mc Chord Mart Grocery & Convenience Store
-
Reflections Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$975k
CAP Approach
CAP
$655k
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$835k
Owner & transaction history
Sinh V Tran · 4 yrs held
Sinh V Tran
since 2022
Last sale
$825,000
7 recorded transactions
Zoning & alternative use
NC2 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Neighborhood Commercial 2 zoning district is intended to foster a sense of urban community in Lakewood The district provides for a concentrated mix of activities, including residential, retail, office, and local services, which may serve the surrounding neighborhood or may serve more than one neighborhood and attract people from other areas
Zone name
Neighborhood Commercial 2
General category
COMMERCIAL
Zone area
268.38 ac
Source
Realmo
Top alternative use upside
Medical building
$1.4M
+9.8%
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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
$860,000
ML approach
$975,000
CAP Approach
CAP Return
Estimation
6%
$710,000
6.5%
$655,000
7%
$610,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,230,000
Current use
MEDICAL BUILDING
$1,350,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$835k
Range $752k – $919k · ±10% · vs last sale $825k (May 6 2022)
Last sale anchor
$825k
May 6 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
$170 / 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
$9,075
Tax year 2024
Assessed value
$799,500
Assessed 2024
Previous assessed
$799,500
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$637,900
Assessed improvement
$161,600
Land market value
$637,900
Improvement market value
$161,600
Total market value
$799,500
Applied tax rate
760.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1953
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
4
Total area
4,920 SF
Lot
0.65 ac (28,328 SF)
Zoning code
NC2
APN
219114191
UPID
US90-3197964
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2 · Lakewood, WAZoning NC2 · permitted uses
NC2 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Neighborhood Commercial 2 zoning district is intended to foster a sense of urban community in Lakewood The district provides for a concentrated mix of activities, including residential, retail, office, and local services, which may serve the surrounding neighborhood or may serve more than one neighborhood and attract people from other areas
Zone name
Neighborhood Commercial 2
General category
COMMERCIAL
Zone area
268.38 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.4M
RETAIL STORES Current
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
1953
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
4
Lot
0.65 ac
Current owner
From public records · entity-resolved
Sinh V Tran
Individual
Mailing address
7792 RENTON ISSAQUAH RD SE, ISSAQUAH, WA 98027-8609
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2022
$825,000
Sinh V Tran
Apextwo LLC
Warranty Deed
$618,750 · Coastal Commerce Bank
May 29, 2019
—
Apextwo LLC
—
Deed
related
$233,000 · First Fin'l Nw Bk
Dec 30, 2015
$419,719
Apextwo LLC
First Financial Northwest Bank
Bargain And Sale Deed
$250,000 · First Financial Northwest Bank
Sep 2, 2011
$600,000
Svgs Bk Nw First
Campbell Karr T
Trustees Deed
related
—
Nov 20, 2008
—
Sang H Han
Cho,moon S
Quit Claim Deed
related
—
Nov 20, 2008
$1,300,000
Sang H Han
Kim,tae
Warranty Deed
$850,000 · First Savings Bank
Jul 27, 2007
$1,250,000
Tae Kim
Jhm LLC
Warranty Deed
$750,000 · Executive House INC
Apr 20, 2005
—
Jhm LLC
Maynard,john H & Misko Y
Quit Claim Deed
related
—
Aug 20, 2002
$537,000
John H Maynard
Lee,j S & Sun B
Grant Deed
$434,475 · Mt Rainier National Bank
—
—
Apextwo LLC
—
Loan Modification
related
$233,000 · First Fin'l Nw Bk
—
—
John H Maynard
—
Deed Of Trust
related
$480,000 · Mt Rainier National 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.
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