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Property profile & analytics
OFF-MARKET
Estimated value
$1,075,000
Retail space
7701 Steilacoom SW Blvd Lakewood, WA 98498-6169
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1351080
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1987
Construction
WOOD FRAME
Total area
5,085 SF
Lot
1.26 ac (54,929 SF)
Zoning code
NC2
APN
220346013
UPID
US90-1351080
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
-
Precision Tune Auto Care Auto Repair Shop
-
Classy Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$680k
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$1.08M
Owner & transaction history
City Of Lakewood · 5 yrs held
City Of Lakewood
since 2021
7 recorded transactions
Zoning & alternative use
NC2 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Neighborhood Commercial 2 zoning district is intended to foster a sense of urban community in Lakewood The district provides for a concentrated mix of activities, including residential, retail, office, and local services, which may serve the surrounding neighborhood or may serve more than one neighborhood and attract people from other areas
Zone name
Neighborhood Commercial 2
General category
COMMERCIAL
Zone area
268.38 ac
Source
Realmo
Top alternative use upside
Medical building
$1.4M
+10.0%
Commercial (general)
$1.4M
+7.3%
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 Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood 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%
$735,000
6.5%
$680,000
7%
$630,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,270,000
Current use
MEDICAL BUILDING
$1,395,000
Change: +10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,360,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±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
$211 / 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
$18,183
Tax year 2024
Assessed value
$1,582,000
Assessed 2024
Previous assessed
$1,582,000
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$1,227,900
Assessed improvement
$354,100
Land market value
$1,227,900
Improvement market value
$354,100
Total market value
$1,582,000
Applied tax rate
760.0000
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
1987
Construction
WOOD FRAME
Heating
SPACE
Buildings
2
Stories
1
Total area
5,085 SF
Lot
1.26 ac (54,929 SF)
Zoning code
NC2
APN
220346013
UPID
US90-1351080
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2 · Lakewood, WAZoning NC2 · permitted uses
NC2 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Neighborhood Commercial 2 zoning district is intended to foster a sense of urban community in Lakewood The district provides for a concentrated mix of activities, including residential, retail, office, and local services, which may serve the surrounding neighborhood or may serve more than one neighborhood and attract people from other areas
Zone name
Neighborhood Commercial 2
General category
COMMERCIAL
Zone area
268.38 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1987
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Buildings
2
Lot
1.26 ac
Current owner
From public records · entity-resolved
City Of Lakewood
Entity
Mailing address
13534 40TH AVE NE, SEATTLE, WA 98125-3811
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2021
—
City Of Lakewood
Michael T Siew
Re-recorded Document
related
—
Nov 19, 2020
—
City Of Lakewood
Michael T Siew
Warranty Deed
—
Mar 16, 1999
$950,000
Michael T Siew
Kim,young L & Jae K
Grant Deed
—
Sep 1, 1994
$2,200,000
Young I Kim
Vincent,edward L
Grant Deed
—
Dec 18, 1989
$1,317,806
Ron Presta
Unknown
Grant Deed
—
—
—
Michael T Siew
—
Deed Of Trust
related
$175,000 · Us Bank NA
—
—
Michael T Sien
—
Deed Of Trust
related
$630,000 · Us Bank NA
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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