Individually Owned Property summary
AI-generated overview
The property is an owner-occupied commercial building situated on a 16,000+ square foot lot in the heart of Pacific Beach, with street frontage and interior spaces positioned to provide visibility from the street and proximity to Seabrook and the beach. It has an open, flexible interior layout intended to support uses such as retail, food service, or creative/production activities, and includes an existing Type 1 hood and a 3-compartment sink. The property is zoned R-3, which permits traditional or recreational housing, live/work use, short-term rentals, and mixed-use development (buyer to verify). Historically, it was used as a corner grocery and was later used as a gallery and studio space, and the building can be configured for retail storefront use, gallery/studio programming, or a combination of these uses.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1962
Construction
STEEL FRAME
Total area
3,244 SF
Lot
0.37 ac (16,117 SF)
Zoning code
C2
APN
795500400500
UPID
US90-1497653
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Electronics & Wireless Store (Bike/Boat/Book/etc) Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$835k
CAP Approach
CAP
$600k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$835k
Owner & transaction history
since 2024
Last sale
$837,467
7 recorded transactions
Zoning & alternative use
C2 · Pacific Beach, WA
Top alternative use upside
Office building
$625,000
+32.5%
Commercial (general)
$530,000
+12.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$835k
Value range
$752k – $919k
±10% around blend
Estimated value / SF
$257 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$752k
blend $835k
$919k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,244 SF
Lot area
0.37 ac
Year built
1962
Stories
1
APN
795500400500
Zoning
C2
Assessed value
$306,423
Annual tax
$2,158
3
Income approach: direct capitalization
Partial preview
Income approach indication
$600k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$655k
@ 6.5% CAP return
$600k
@ 7% CAP return
$560k
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$835k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 107 sales
$145
+77%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $257/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+33%
vs current-use indication
Commercial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
4.70%
Implied, in-place cap rate for this retail space
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.70%
9.0%
NOI (est.)
$59k *
Last sale · Jan 2024
$837k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.25M
Move the market yield to see immediate price impact.
Value / SF
$384
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.20%4.70%5.20%
$53k
$1.26M
$1.12M
$1.01M
$59k
$1.40M
$1.25M
$1.13M
$64k
$1.54M
$1.37M
$1.24M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,158
Tax year 2023
Assessed value
$306,423
Assessed 2022
Previous assessed
$306,423
+0.0% YoY
Effective rate
0.70%
On assessed value
Assessed land
$230,768
Assessed improvement
$75,655
Land market value
$230,768
Improvement market value
$75,655
Total market value
$306,423
Applied tax rate
64.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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
1962
Construction
STEEL FRAME
Heating
NONE
Stories
1
Total area
3,244 SF
Lot
0.37 ac (16,117 SF)
Zoning code
C2
APN
795500400500
UPID
US90-1497653
Jurisdiction
GRAYS HARBOR
Zoning & alternative use
C2 · Pacific Beach, WAZoning C2 · permitted uses
C2 · Pacific Beach, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Construction
STEEL FRAME
Heating
NONE
Stories
1
Lot
0.37 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C2
Jurisdiction
Pacific Beach, WA
Recorded code
C2
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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