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Property profile & analytics
OFF-MARKET
Estimated value
$10,585,000
Outlet malls
521 Frk SW Ave North Bend, WA 98045-7972
Entity Owned
24-yr Hold
Free & Clear
Property ID
US90-0476764
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
36,925 SF
Lot
14.24 ac (620,294 SF)
Zoning code
IC
APN
092308-9005
UPID
US90-0476764
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
-
Gap Factory Clothing Store Men'S Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.16M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.59M
Owner & transaction history
Cpg Finance II LLC · 24 yrs held
Cpg Finance II LLC
since 2001
4 recorded transactions
Zoning & alternative use
IC · North Bend, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$17.0M
+17.0%
Medical building
$14.6M
+0.7%
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 North Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Bend 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$11,010,000
6.5%
$10,160,000
7%
$9,435,000
Alternative Use
Use
Estimation
RETAIL STORES
$14,485,000
Current use
AUTO REPAIR, GARAGE
$16,950,000
Change: +17% · Conversion: Difficult
MEDICAL BUILDING
$14,585,000
Change: +1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$14,080,000
Change: -3% · Conversion: Difficult
OFFICE BUILDING
$13,920,000
Change: -4% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$12,800,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$10.59M
Range $9.53M – $11.64M · ±10%
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
$287 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$124,198
Tax year 2022
Assessed value
$14,469,000
Assessed 2022
Previous assessed
$14,469,000
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$9,304,400
Assessed improvement
$5,164,600
Land market value
$9,304,400
Improvement market value
$5,164,600
Total market value
$14,469,000
Applied tax rate
1,925.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
3
Stories
1
Total area
36,925 SF
Lot
14.24 ac (620,294 SF)
Zoning code
IC
APN
092308-9005
UPID
US90-0476764
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IC · North Bend, WA
Zoning IC · permitted uses
IC · North Bend, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Bend. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$14.5M
AUTO REPAIR, GARAGE
Est. value
$17.0M
MEDICAL BUILDING
Est. value
$14.6M
INDUSTRIAL (GENERAL)
Est. value
$14.1M
OFFICE BUILDING
Est. value
$13.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.8M
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
3
Lot
14.24 ac
Current owner
From public records · entity-resolved
Cpg Finance II LLC
Entity
Free & Clear · 24 yrs held
Mailing address
PO BOX 6120, INDIANAPOLIS, IN 46206-6120
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2001
$22,740,350
Cpg Finance II LLC
Kpt Remic Loan LLC
Grant Deed
related
—
Jan 4, 1995
—
Fsa Properties INC
Factory Stores Of America INC
Grant Deed
related
$70,000 · Travelers Insurance
Jun 21, 1994
—
S LP
Factory Stores O
Quit Claim Deed
related
—
Apr 20, 1989
$5,137,000
S Washington
R & R
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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