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Property profile & analytics
OFF-MARKET
Estimated value
$62,845,000
Assisted living facilities
815 216th St Des Moines, WA 98198-4507
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US90-1090175
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1955
Construction
CONCRETE
Total area
358,292 SF
Lot
18.98 ac (826,675 SF)
Zoning code
I-C
APN
082204-9014
UPID
US90-1090175
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$62.85M
Owner & transaction history
Wesley Homes Des Moines LLC · 20 yrs held
Wesley Homes Des Moines LLC
since 2005
7 recorded transactions
Zoning & alternative use
I-C · Des Moines, WA
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 Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Moines 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$175 / 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
$32,056
Tax year 2022
Applied tax rate
1,107.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1955
Construction
CONCRETE
Heating
HEAT PUMP
Buildings
7
Stories
5
Units
374
Total area
358,292 SF
Lot
18.98 ac (826,675 SF)
Zoning code
I-C
APN
082204-9014
UPID
US90-1090175
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
I-C · Des Moines, WA
Zoning I-C · permitted uses
I-C · Des Moines, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Des Moines. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1955
Construction
CONCRETE
Heating
HEAT PUMP
Stories
5
Buildings
7
Units
374
Lot
18.98 ac
Current owner
From public records · entity-resolved
Wesley Homes Des Moines LLC
Entity
Mailing address
815 S 216TH ST, DES MOINES, WA 98198-4507
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2022
—
Wesley Homes Des Moines LLC
—
Deed
related
$25,000,000 · Us Bank Trust Co NA
Apr 20, 2020
—
Wesley Homes Des Moines LLC
—
Deed
related
$1,960,000 · Miscellaneous Govt Agcy
Aug 23, 2018
—
Wesley Homes Des Moines LLC
—
Loan Modification
related
$84,100,000 · Us Bk
Nov 7, 2016
—
Wesley Homes Des Moines LLC
—
Deed
related
$25,000 · Us Bank NA
Nov 2, 2005
—
Wesley Homes Des Moines LLC
Welsey Gardens
Warranty Deed
$58,000,000 · Bank Of America
—
—
Wesley Homes Lea Hill LLC|wesley Homes Des Moines
—
Loan Modification
related
$11,800,000 · Washington Fed'l Svgs
—
—
Wesley Homes Lea Hill LLC
—
Loan Modification
related
$10,000,000 · Us Bk
—
—
Wesley Homes Des Moines LLC
—
Deed Of Trust
related
$1,960,000 · Miscellaneous Govt Agcy
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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