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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Retail space
7320 40th W St University Place, WA 98466-4317
Entity Owned
6-yr Hold
Free & Clear
Property ID
US90-1512111
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,920 SF
Lot
0.59 ac (25,500 SF)
Zoning code
TC
APN
220158012
UPID
US90-1512111
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$990k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$904k
Blend (final)
Blend
$735k
Owner & transaction history
Sygk LLC · 6 yrs held
Sygk LLC
since 2020
Last sale
$750,000
4 recorded transactions
Zoning & alternative use
TC · University Place, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$815,000
+40.4%
Auto repair, garage
$710,000
+22.3%
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 University Place submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs University Place 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
$1,015,000
ML approach
$990,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$580,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$815,000
Change: +40% · Conversion: Moderate
AUTO REPAIR, GARAGE
$710,000
Change: +22% · Conversion: Difficult
WAREHOUSE, STORAGE
$575,000
Change: -1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$570,000
Change: -2% · Conversion: Easy
MEDICAL BUILDING
$470,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$735k
Range $662k – $809k · ±10% · vs last sale $750k (Jun 30 2020)
Last sale anchor
$750k
Jun 30 2020
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
$383 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$9,500
Tax year 2024
Assessed value
$745,200
Assessed 2024
Previous assessed
$745,200
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$538,900
Assessed improvement
$206,300
Land market value
$538,900
Improvement market value
$206,300
Total market value
$745,200
Applied tax rate
752.0000
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
2
Stories
1
Total area
1,920 SF
Lot
0.59 ac (25,500 SF)
Zoning code
TC
APN
220158012
UPID
US90-1512111
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
TC · University Place, WA
Zoning TC · permitted uses
TC · University Place, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
University Place. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$580,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$815,000
AUTO REPAIR, GARAGE
Est. value
$710,000
WAREHOUSE, STORAGE
Est. value
$575,000
COMMERCIAL (GENERAL)
Est. value
$570,000
MEDICAL BUILDING
Est. value
$470,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
COMMERCIAL (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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
2
Lot
0.59 ac
Current owner
From public records · entity-resolved
Sygk LLC
Entity
Free & Clear · 6 yrs held
Mailing address
7320 40TH ST W, UNIVERSITY PLACE, WA 98466-4317
Ownership since
2020
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
Jun 30, 2020
$900,000
Sygk LLC
Soon G Cho
Warranty Deed
—
Mar 22, 1999
$310,000
Soon G Cho
Kim,yong S & Jung H
Grant Deed
$279,000 · City Bank
—
—
Yong S Kim
—
Deed Of Trust
related
$205,000 · Sterling Savings Association
—
—
Soon G Cho
—
Deed Of Trust
related
$247,500 · Bank Of America
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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