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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Retail space
6401 Lk Washington SE Blvd Newcastle, WA 98056-1014
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0788965
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1921
Construction
WOOD
Total area
1,820 SF
Lot
0.14 ac (6,105 SF)
Zoning code
R-6
APN
334330-0642
UPID
US90-0788965
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
$930k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$970k
Blend (final)
Blend
$965k
Owner & transaction history
Lasean Smith · 4 yrs held
Lasean Smith
since 2021
Last sale
$1.0M
4 recorded transactions
Zoning & alternative use
R-6 · Newcastle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$920,000
+26.2%
Auto repair, garage
$750,000
+2.6%
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 Newcastle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newcastle 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
$925,000
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$730,000
Current use
COMMERCIAL (GENERAL)
$920,000
Change: +26% · Conversion: Easy
AUTO REPAIR, GARAGE
$750,000
Change: +3% · Conversion: Difficult
OFFICE BUILDING
$645,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$625,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±10% · vs last sale $1.00M (Oct 28 2021)
Last sale anchor
$1.00M
Oct 28 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
$530 / 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
$7,854
Tax year 2022
Assessed value
$838,200
Assessed 2022
Previous assessed
$838,200
+0.0% YoY
Effective rate
0.94%
On assessed value
Assessed land
$134,300
Assessed improvement
$703,900
Land market value
$134,300
Improvement market value
$703,900
Total market value
$838,200
Applied tax rate
1,865.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1921
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Buildings
2
Stories
2
Total area
1,820 SF
Lot
0.14 ac (6,105 SF)
Zoning code
R-6
APN
334330-0642
UPID
US90-0788965
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
R-6 · Newcastle, WAZoning R-6 · permitted uses
R-6 · Newcastle, WA
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
RETAIL STORES Current
Est. value
$730,000
COMMERCIAL (GENERAL)
Est. value
$920,000
AUTO REPAIR, GARAGE
Est. value
$750,000
OFFICE BUILDING
Est. value
$645,000
MEDICAL BUILDING
Est. value
$625,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL 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
1921
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
2
Buildings
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
Lasean Smith
Individual
Mailing address
11028 SE 62ND PL, BELLEVUE, WA 98006-5382
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2021
$1,000,050
Lasean Smith
Eric Boivin
Warranty Deed
$800,040 · Eric Boivin
Nov 19, 2007
—
Eric Boivin
Boivin,dawn
Quit Claim Deed
related
—
Nov 19, 2007
$525,000
Eric Boivin
Dusek Living Trust
Warranty Deed
—
Sep 23, 1994
$135,000
Aleksei Rajamachvili
Silver Holding Co INC
Grant Deed
$135,000 · Seller
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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