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Property profile & analytics
OFF-MARKET
Estimated value
$2,000,000
Retail space
511 Morris St La Conner, WA 98257
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0150507
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2008
Total area
7,481 SF
Lot
0.23 ac (10,019 SF)
APN
4124-014-008-0006
UPID
US90-0150507
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
-
Astound Broadband Powered by Wave Telecommunications Service Data Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.39M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.99M
Blend (final)
Blend
$2.00M
Owner & transaction history
Tekoa Holdings LLC · 4 yrs held
Tekoa Holdings LLC
since 2021
Last sale
$1.9M
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 La Conner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs La Conner 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
$2,410,000
ML approach
$2,390,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,200,000
Current use
COMMERCIAL (GENERAL)
$1,905,000
Change: -13% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,805,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$2.00M
Range $1.80M – $2.20M · ±10% · vs last sale $1.88M (Oct 4 2021)
Last sale anchor
$1.88M
Oct 4 2021
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
$267 / 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
$10,865
Tax year 2023
Assessed value
$1,294,900
Assessed 2022
Previous assessed
$1,103,100
+17.4% YoY
Effective rate
0.84%
On assessed value
Assessed land
$297,200
Assessed improvement
$997,700
Land market value
$297,200
Improvement market value
$997,700
Total market value
$1,294,900
Applied tax rate
920.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2008
Heating
BASEBOARD
Bathrooms
2
Total area
7,481 SF
Lot
0.23 ac (10,019 SF)
APN
4124-014-008-0006
UPID
US90-0150507
Jurisdiction
SKAGIT
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
RETAIL STORES Current
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.8M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2008
Heating
BASEBOARD
Bathrooms
2
Lot
0.23 ac
Current owner
From public records · entity-resolved
Tekoa Holdings LLC
Entity
Mailing address
104 E 31ST AVE, SPOKANE, WA 99203-2603
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2021
$1,875,000
Tekoa Holdings LLC
511 Morris Street LLC
Warranty Deed
—
Feb 27, 2020
—
511 Morris Street LLC
—
Deed
related
$537,500 · Peoples Bk
Jan 29, 2010
$600,000
511 Morris Street LLC
Business Bk Of Skagit Cnty
Warranty Deed
—
Dec 30, 2009
$1,430,372
Business Bk Of Skagit Cnty
Winslow Michael A
Trustees Deed
related
—
Aug 31, 2007
—
Peter Whited
—
Trustees Deed
related
$1,325,500 · Business Bank
Nov 18, 2005
$345,000
Jonathan Duckworth
Swoboda,scott A
Warranty Deed
$345,000 · Scott A Swoboda
Oct 22, 1996
$225,000
Scott A Swoboda
Kennan,dwight F & Carolyn L
Grant Deed
$227,730 · Frontier Bank
—
—
511 Morris Street LLC
—
Deed Of Trust
related
$250,000 · Peoples Bank & Trust
—
—
Scott A Swoboda
—
Deed Of Trust
related
$250,000 · Cascade Bank
—
—
511 Morriss Street LLC
—
Deed Of Trust
related
$583,166 · Peoples Bk
—
—
Jonathan Duckworth
—
Deed Of Trust
related
$420,000 · Business Bank Skagit County
—
—
Scott A Swoboda
—
Deed Of Trust
related
$155,400 · Cascade Bank
—
—
511 Morris Street LLC
—
Deed Of Trust
related
$537,500 · Peoples Bk
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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