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Property profile & analytics
OFF-MARKET
Estimated value
$2,180,000
Manufacturing properties
744 Spruce St Burlington, WA 98233
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1753298
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
1934
Total area
11,408 SF
Lot
0.31 ac (13,460 SF)
APN
4089-007-012-0007
UPID
US90-1753298
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
$2.15M
CAP Approach
CAP
$1.48M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.18M
Owner & transaction history
Schiff Real Estate Holdings LLC · 3 yrs held
Schiff Real Estate Holdings LLC
since 2023
Last sale
$2.3M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.0M
+82.8%
Auto repair, garage
$2.8M
+69.5%
Retail stores
$2.7M
+69.2%
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
$2,035,000
ML approach
$2,150,000
CAP Approach
CAP Return
Estimation
6%
$1,605,000
6.5%
$1,480,000
7%
$1,375,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,625,000
Current use
COMMERCIAL (GENERAL)
$2,970,000
Change: +83% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,750,000
Change: +69% · Conversion: Easy
RETAIL STORES
$2,745,000
Change: +69% · Conversion: Moderate
OFFICE BUILDING
$2,620,000
Change: +61% · Conversion: Difficult
RESTAURANT
$2,400,000
Change: +48% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,040,000
Change: +26% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,490,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$2.18M
Range $1.96M – $2.40M · ±10% · vs last sale $2.27M (Apr 12 2023)
Last sale anchor
$2.27M
Apr 12 2023
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
$191 / 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
$5,305
Tax year 2022
Assessed value
$560,300
Assessed 2021
Previous assessed
$560,300
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$127,000
Assessed improvement
$433,300
Land market value
$127,000
Improvement market value
$433,300
Total market value
$560,300
Applied tax rate
905.0000
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
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Status
Off-Market
Year built
1934
Heating
NONE
Stories
1
Total area
11,408 SF
Lot
0.31 ac (13,460 SF)
APN
4089-007-012-0007
UPID
US90-1753298
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.8M
RETAIL STORES
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.6M
RESTAURANT
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.5M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1934
Heating
NONE
Stories
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Schiff Real Estate Holdings LLC
Entity
Mailing address
401 E SHARON AVE, BURLINGTON, WA 98233-2227
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 12, 2023
$2,270,000
Schiff Real Estate Holdings LLC
Lrw Properties LLC
Bargain And Sale Deed
$2,391,950 · Bank Of The Pacific
—
—
Lrw Properties LLC
—
Deed Of Trust
related
$443,349 · Peoples Bank & Trust
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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