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Property profile & analytics
FOR LEASE
Manufacturing properties
600-714 S Spruce St Burlington, WA 98233
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-2021831
For Lease
1 / 2
$7.30 SF/Yr
600-714 S Spruce St, Burlington, WA 98233
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
FOOD PACKING, PACKING PLANT
Year built
1900
Total area
8,740 SF
Lot
1.34 ac (58,153 SF)
APN
4077-134-002-0005
UPID
US90-2021831
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
-
Merritt Builders, LLC Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Toms Rental & Storage LLC · 4 yrs held
Toms Rental & Storage LLC
since 2021
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$19,165
Tax year 2022
Assessed value
$2,025,500
Assessed 2021
Previous assessed
$2,025,500
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$959,300
Assessed improvement
$1,066,200
Land market value
$959,300
Improvement market value
$1,066,200
Total market value
$2,025,500
Applied tax rate
905.0000
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
Manufacturing properties
Use group
FOOD PACKING, PACKING PLANT
Status
For Lease
Year built
1900
Heating
NONE
Total area
8,740 SF
Lot
1.34 ac (58,153 SF)
APN
4077-134-002-0005
UPID
US90-2021831
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
Building & site characteristics
From public records
Year built
1900
Heating
NONE
Lot
1.34 ac
Current owner
From public records · entity-resolved
Toms Rental & Storage LLC
Entity
Mailing address
624 S SPRUCE ST, BURLINGTON, WA 98233-2238
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2021
—
Toms Rental & Storage LLC
Thomas K Studebaker
Quit Claim Deed
related
—
Jul 19, 2019
—
B Meltel LLC
—
Grant Deed
related
$2,000,000,000 · Deutsche Bk Tr Co Americas
Jul 13, 2018
—
Thomas K Studebaker
—
Deed
related
$62,000 · Peoples Bk
Mar 22, 2001
—
Thomas K Studebaker
Burlington Northern & Santa Fe
Quit Claim Deed
related
$107,115 · Skagit State Bank
—
—
Thomas K Studebaker
—
Deed Of Trust
related
$804,909 · Summit Bank
—
—
Thomas K Studebaker
—
Deed Of Trust
related
$30,000 · Peoples Bk
—
—
Thomas K Studebaker
—
Deed Of Trust
related
$75,000 · Peoples Bk
—
—
Thomas K Studebaker
—
Deed Of Trust
related
$75,000 · Peoples Bank & Trust
—
—
Thomas K Studebaker
—
Deed Of Trust
related
$729,716 · Peoples Bank & Trust
—
—
Thomas K Studebaker
—
Deed Of Trust
related
$62,000 · 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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