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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Strip malls
708 Morris St La Conner, WA 98257
Individually Owned
24-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1730469
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1985
Total area
8,011 SF
Lot
0.48 ac (20,996 SF)
APN
4124-016-011-0006
UPID
US90-1730469
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
-
Thrive Direct Health Care Medical Clinic
-
Kim C. Gallagher, RPH Pharmacy
-
Edward Jones - Financial Advisor: Scott A Price Financial Advisor
-
The Cusp Creative Vocational School Training Center
-
Thanh Nguyen Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$725k
Owner & transaction history
Town Of La Conner · 24 yrs held
Town Of La Conner
since 2002
1 recorded transaction
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 La Conner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs La Conner 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,145,000
Change: 0% · Conversion: Moderate
RESTAURANT
$1,065,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,050,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,005,000
Change: 0% · Conversion: Easy
INDUSTRIAL (GENERAL)
$915,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$865,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±10%
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
$91 / 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
$9,034
Tax year 2022
Assessed value
$930,100
Assessed 2021
Previous assessed
$930,100
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$371,700
Assessed improvement
$558,400
Land market value
$371,700
Improvement market value
$558,400
Total market value
$930,100
Applied tax rate
920.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1985
Heating
NONE
Stories
1
Total area
8,011 SF
Lot
0.48 ac (20,996 SF)
APN
4124-016-011-0006
UPID
US90-1730469
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
INDUSTRIAL (GENERAL)
Est. value
$915,000
MEDICAL BUILDING
Est. value
$865,000
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1985
Heating
NONE
Stories
1
Lot
0.48 ac
Current owner
From public records · entity-resolved
Town Of La Conner
Individual
Free & Clear · 24 yrs held
Mailing address
921 VIEWCREST CT, AUBURN, CA 95603-6090
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2002
—
Town Of La Conner
Mattingingly Investments INC
Grant Deed
related
—
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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