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Property profile & analytics
OFF-MARKET
Estimated value
$1,955,000
Warehouses
5499 Wls Dr Ridgefield, WA 98642-7412
Individually Owned
5-yr Hold
Property ID
US90-3223692
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2023
Construction
CONCRETE
Total area
16,793 SF
Lot
27.76 ac (1,209,226 SF)
Zoning code
E : RGF
APN
215620-000
UPID
US90-3223692
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
$1.87M
CAP Approach
CAP
$2.58M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.96M
Owner & transaction history
Lee E Wells · 5 yrs held
Lee E Wells
since 2021
Last sale
$2.0M
7 recorded transactions
Zoning & alternative use
E : RGF · Ridgefield, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.3M
+59.2%
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 Ridgefield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ridgefield 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
$1,900,000
ML approach
$1,865,000
CAP Approach
CAP Return
Estimation
6%
$2,790,000
6.5%
$2,575,000
7%
$2,395,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,045,000
Current use
INDUSTRIAL (GENERAL)
$3,255,000
Change: +59% · Conversion: Easy
Blend value · Realmo final
$1.96M
Range $1.76M – $2.15M · ±10% · vs last sale $2.03M (Apr 7 2021)
Last sale anchor
$2.03M
Apr 7 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
$116 / 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
$14,217
Tax year 2023
Assessed value
$3,619,646
Assessed 2023
Previous assessed
$2,628,387
+37.7% YoY
Effective rate
0.39%
On assessed value
Assessed land
$2,022,325
Assessed improvement
$1,597,321
Land market value
$2,022,325
Improvement market value
$1,597,321
Total market value
$3,619,646
Applied tax rate
10,319.0000
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
2023
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Bathrooms
5
Total area
16,793 SF
Lot
27.76 ac (1,209,226 SF)
Zoning code
E : RGF
APN
215620-000
UPID
US90-3223692
Jurisdiction
CLARK
Zoning & alternative use
E : RGF · Ridgefield, WA
Zoning E : RGF · permitted uses
E : RGF · Ridgefield, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ridgefield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$3.3M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
2023
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
5
Lot
27.76 ac
Current owner
From public records · entity-resolved
Lee E Wells
Individual
Mailing address
5499 S WLS DR, RIDGEFIELD, WA 98642-7412
Mailing matches property
Yes
Owner-occupied
Yes
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2021
—
Edward Wells Lee
—
Deed
related
$492,700 · First Centennial Mortgage Corp
Apr 7, 2021
—
Lee E Wells
Lee And Geraldine Wells Family LLC
Intrafamily Transfer
related
—
Dec 18, 2020
—
City Of Ridgefield
Lee & Geraldine Wells Fam LLC
Quit Claim Deed
related
—
Jun 2, 2017
—
Wells Family Investments INC
Lee & Geraldine Wells Family L
Quit Claim Deed
—
Dec 21, 2006
$2,028,050
Ridgecrest Properties LLC
Lee & Geraldine Wells Fam LLC
Warranty Deed
$6,579,300 · Bank Of Clark County
Feb 11, 2005
—
Lee & Geraldine Wells Fam LLC
Wells,lee E & Geraldine A
Quit Claim Deed
—
May 12, 1995
$500,000
Lee E Wells
Wells,ernest E & Katie J
Grant Deed
related
$450,000 · Seller
—
—
Lee E Wells
—
Deed Of Trust
related
$550,000 · Stearns Lndg
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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