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Property profile & analytics
OFF-MARKET
Estimated value
$3,300,000
Warehouses
8016 Durango SW St Lakewood, WA 98499-4591
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1332411
Property summary
AI-generated overview
This exceptional Lakewood, WA industrial property at 8016 Durango St SW offers 33,160 square feet of versatile space, ideal for flex, manufacturing, or distribution businesses. Currently, 1,600 square feet is vacant, with available suites ranging from approximately 1,720 to 4,290 square feet. The two-story building, renovated in 2021, features high ceilings, clear spans, and ample power and water. The property boasts excellent parking, enhanced security with exterior cameras and lighting, and is conveniently located off I-5. Recent renovations included parking lot updates and exterior painting. The building is fully sprinklered. This property is perfect for businesses needing office, warehouse, storage, or light manufacturing/production space. The building is wood-framed. Serious inquiries only.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1963
Construction
WOOD FRAME
Total area
29,400 SF
Lot
2.04 ac (88,862 SF)
Zoning code
I1
APN
6990200021
UPID
US90-1332411
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
-
GTA Sales&Repair Auto Repair Shop
-
Durango Industrial Park Real Estate Agency
-
JT AUTOMOTIVE Auto Repair Shop
-
APIPCO Industries Production Facility
-
BNI Auto Body Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.93M
Blend (final)
Blend
$3.30M
Owner & transaction history
John A Solomon · 6 yrs held
John A Solomon
since 2020
Last sale
$3.0M
6 recorded transactions
Zoning & alternative use
I1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Industrial 1 zoning district provides for regional research, light manufacturing, warehousing, concentrated business or employment parks, and other major regional employment uses
Zone name
Industrial 1
General category
INDUSTRIAL
Zone area
300.90 ac
Source
Realmo
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
$3,870,000
ML approach
$3,795,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,505,000
Current use
Blend value · Realmo final
$3.30M
Range $2.97M – $3.63M · ±10% · vs last sale $2.95M (Nov 25 2020)
Last sale anchor
$2.95M
Nov 25 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
$112 / 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
$32,211
Tax year 2024
Assessed value
$2,723,500
Assessed 2024
Previous assessed
$2,723,500
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$1,529,100
Assessed improvement
$1,194,400
Land market value
$1,529,100
Improvement market value
$1,194,400
Total market value
$2,723,500
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1963
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Units
1
Total area
29,400 SF
Lot
2.04 ac (88,862 SF)
Zoning code
I1
APN
6990200021
UPID
US90-1332411
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
I1 · Lakewood, WAZoning I1 · permitted uses
I1 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Industrial 1 zoning district provides for regional research, light manufacturing, warehousing, concentrated business or employment parks, and other major regional employment uses
Zone name
Industrial 1
General category
INDUSTRIAL
Zone area
300.90 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.5M
WAREHOUSE, STORAGE Current
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
1963
Construction
WOOD FRAME
Heating
SPACE
Stories
1
Units
1
Lot
2.04 ac
Current owner
From public records · entity-resolved
John A Solomon
Individual
Mailing address
975 SE SANDY BLVD STE #200, PORTLAND, OR 97214-2296
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2023
—
Pir Durango Street LLC
—
Deed
related
$3,780,000 · Sound Community Bank
Jul 27, 2020
—
John A Solomon
Real Big LLC
Warranty Deed
—
Sep 25, 2017
—
Real Big LLC
—
Deed
related
$710,000 · Columbia St Bk
—
—
Real Big LLC
—
Deed Of Trust
related
$880,864 · Columbia State Bank
—
—
Real Big LLC
—
Deed Of Trust
related
$500,000 · Columbia State Bank
—
—
Real Big LLC
—
Loan Modification
related
$710,000 · Columbia St Bk
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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