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Property profile & analytics
OFF-MARKET
Estimated value
$8,930,000
Residential income homes
625 Okanogan Ave 113 Wenatchee, WA 98801-3469
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1897779
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
1970
Total area
49,312 SF
Lot
2.14 ac (93,218 SF)
APN
222010771044
UPID
US90-1897779
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
-
Colonial Vista Post-Acute and Rehabilitation Center Nursing Home
-
Colonial Vista Therapies Physician
-
Development Enterprises Inc Retirement Community Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.53M
Comparable Approach
Comparable
$9.21M
Blend (final)
Blend
$8.93M
Owner & transaction history
Wenatchee 625 Realty LLC · 1 yrs held
Wenatchee 625 Realty LLC
since 2024
Last sale
$11.9M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$13.2M
+4.5%
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 Wenatchee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wenatchee 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%
$8,155,000
6.5%
$7,530,000
7%
$6,990,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$12,590,000
Current use
AUTO REPAIR, GARAGE
$13,160,000
Change: +5% · Conversion: Difficult
OFFICE BUILDING
$11,630,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$8.93M
Range $8.04M – $9.82M · ±10% · vs last sale $11.86M (May 30 2024)
Last sale anchor
$11.86M
May 30 2024
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
$181 / 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
$40,727
Tax year 2023
Assessed value
$4,612,968
Assessed 2022
Previous assessed
$4,344,459
+6.2% YoY
Effective rate
0.88%
On assessed value
Assessed land
$279,655
Assessed improvement
$4,333,313
Land market value
$279,655
Improvement market value
$4,333,313
Total market value
$4,612,968
Applied tax rate
802.0000
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
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Status
Off-Market
Year built
1970
Heating
NONE
Buildings
2
Total area
49,312 SF
Lot
2.14 ac (93,218 SF)
APN
222010771044
UPID
US90-1897779
Jurisdiction
CHELAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$12.6M
AUTO REPAIR, GARAGE
Est. value
$13.2M
OFFICE BUILDING
Est. value
$11.6M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1970
Heating
NONE
Buildings
2
Lot
2.14 ac
Current owner
From public records · entity-resolved
Wenatchee 625 Realty LLC
Entity
Mailing address
7700 NE PKWY DR STE VANCOUVER XX
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2024
$11,864,705
Wenatchee 625 Realty LLC
Bright Light Ventures LLC
Bargain And Sale Deed
$260,000,000 · Ctr Partnership LP
Aug 30, 2024
—
Bright Light Ventures LLC
Wenatchee Snf Ventures LLC
Intrafamily Transfer
related
—
Jun 1, 2017
$11,675,352
Wenatchee Snf Ventures LLC
Campbell Healthcare Investments LP
Special Warranty 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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