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Property profile & analytics
OFF-MARKET
Estimated value
$5,450,000
Warehouses
515 157th Avea, Vancouver, WA 98684-9833
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0950287
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1988
Total area
30,480 SF
Lot
1.74 ac (75,794 SF)
Zoning code
CC : VAN
APN
114866-000
UPID
US90-0950287
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
$5.60M
CAP Approach
CAP
$4.35M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.45M
Owner & transaction history
Gw East Vanocover LLC · 3 yrs held
Gw East Vanocover LLC
since 2022
Last sale
$6.0M
7 recorded transactions
Zoning & alternative use
CC : VAN · Vancouver, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.4M
+107.1%
Industrial (general)
$7.5M
+84.6%
Commercial (general)
$7.2M
+79.1%
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 Vancouver submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Vancouver 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
$5,315,000
ML approach
$5,595,000
CAP Approach
CAP Return
Estimation
6%
$4,710,000
6.5%
$4,350,000
7%
$4,040,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,040,000
Current use
MEDICAL BUILDING
$8,360,000
Change: +107% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$7,450,000
Change: +85% · Conversion: Easy
COMMERCIAL (GENERAL)
$7,230,000
Change: +79% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,035,000
Change: +74% · Conversion: Moderate
AUTO REPAIR, GARAGE
$6,330,000
Change: +57% · Conversion: Easy
Blend value · Realmo final
$5.45M
Range $4.91M – $6.00M · ±10% · vs last sale $5.99M (Aug 24 2022)
Last sale anchor
$5.99M
Aug 24 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
$179 / 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
$21,858
Tax year 2023
Assessed value
$2,290,300
Assessed 2023
Previous assessed
$1,991,600
+15.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$1,227,303
Assessed improvement
$1,062,997
Land market value
$1,227,303
Improvement market value
$1,062,997
Total market value
$2,290,300
Applied tax rate
10,143.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1988
Heating
OTHER
Buildings
4
Stories
1
Total area
30,480 SF
Lot
1.74 ac (75,794 SF)
Zoning code
CC : VAN
APN
114866-000
UPID
US90-0950287
Jurisdiction
CLARK
Zoning & alternative use
CC : VAN · Vancouver, WA
Zoning CC : VAN · permitted uses
CC : VAN · Vancouver, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Vancouver. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$8.4M
INDUSTRIAL (GENERAL)
Est. value
$7.5M
COMMERCIAL (GENERAL)
Est. value
$7.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.0M
AUTO REPAIR, GARAGE
Est. value
$6.3M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1988
Heating
OTHER
Stories
1
Buildings
4
Lot
1.74 ac
Current owner
From public records · entity-resolved
Gw East Vanocover LLC
Entity
Mailing address
223 10TH ST S, KIRKLAND, WA 98033-6729
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2026
—
Gw East Vancouver LLC
—
Deed
related
$133,000,000 · Wellsfargobankna
Feb 25, 2025
—
Gw East Vancouver LLC
—
Deed
related
$50,000,000 · Wells Fargo Bank NA
Aug 24, 2022
$5,990,000
Gw East Vanocover LLC
Hobbs Limited Partnership
Warranty Deed
$5,076,718 · Washington Trust Bank
Apr 6, 2000
—
LP Hobbs
Hobbs
Quit Claim Deed
related
—
May 6, 1996
$1,850,000
Hobbs Trust
Watanabe & Watanabe LP
Grant Deed
$1,118,572 · Bank Of Newport
Jan 19, 1993
$810,000
Watanabe E T Trstee
Unknown
Grant Deed
—
—
—
LP Hobbs
—
Deed Of Trust
related
$950,000 · Umpqua 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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