702 Water St Port Townsend, WA 98368-5729
Individually Owned
Absentee Owner
Free & Clear
Estimated value
No estimation on file for this property yet.
Property ID
US90-1981837
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Total area
5,760 SF
Lot
0.08 ac (3,485 SF)
Zoning code
C-III
APN
989704201
UPID
US90-1981837
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
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
since 2025
Last sale
$1.4M
1 recorded transaction
Zoning & alternative use
C-III · Port Townsend, WA
Zoning description
multifamily residential properties outside the C-III historic commercial district that are being developed, redeveloped, or expanded shall be reduced by two spaces for each on -street parking space provided adjacent to a…
General category
COMMERCIAL
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.
All 3 comparables with addresses
Source audit · 10 inputs
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Summary
1
Valuation conclusion
Included free
Realmo’s models returned no estimation for this property yet.
2
Subject property
Included free
GBA
5,760 SF
Lot area
0.08 ac
APN
989704201
Assessed value
$923,517
Annual tax
$8,284
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$1.07M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
13.7 mi away · 5,987 SF
16.5 mi away · 5,089 SF
5
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
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.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.36M
Move the market yield to see immediate price impact.
Value / SF
$236
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
5.00%7.00%9.00%
$86k
$1.72M
$1.23M
$953k
$95k
$1.91M
$1.36M
$1.06M
$105k
$2.10M
$1.50M
$1.16M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$1.33M
0.4 mi · Apr 2026 · $190/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,284
Tax year 2023
Assessed value
$923,517
Assessed 2023
Previous assessed
$890,253
+3.7% YoY
Effective rate
0.90%
On assessed value
Assessed land
$329,976
Assessed improvement
$593,541
Land market value
$329,976
Improvement market value
$593,541
Total market value
$923,517
Applied tax rate
110.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Heating
NONE
Total area
5,760 SF
Lot
0.08 ac (3,485 SF)
Zoning code
C-III
APN
989704201
UPID
US90-1981837
Jurisdiction
JEFFERSON
Zoning & alternative use
C-III · Port Townsend, WAZoning C-III · permitted uses
C-III · Port Townsend, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
multifamily residential properties outside the C-III historic commercial district that are being developed, redeveloped, or expanded shall be reduced by two spaces for each on -street parking space provided adjacent to a…
General category
COMMERCIAL
Building & site characteristics
From public records
Heating
NONE
Lot
0.08 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
C-III
COMMERCIAL
Jurisdiction
Port Townsend, WA
Recorded code
C-III
Official district
C-III
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C-III in Port Townsend, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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