Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,345,000
Warehouses
816 Spruce St Burlington, WA 98233-2802
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US90-0958776
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1985
Total area
14,400 SF
Lot
0.94 ac (40,859 SF)
APN
4077-133-001-0008
UPID
US90-0958776
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
-
C B Wholesale Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.27M
Comparable Approach
Comparable
$1.44M
Blend (final)
Blend
$2.35M
Owner & transaction history
Tallwoods LLC
Tallwoods LLC
since 2026
Last sale
$2.8M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.7M
+99.1%
Auto repair, garage
$3.5M
+84.5%
Retail stores
$3.5M
+84.3%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,460,000
6.5%
$2,270,000
7%
$2,110,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,880,000
Current use
COMMERCIAL (GENERAL)
$3,745,000
Change: +99% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,475,000
Change: +85% · Conversion: Easy
RETAIL STORES
$3,470,000
Change: +84% · Conversion: Moderate
OFFICE BUILDING
$3,305,000
Change: +76% · Conversion: Difficult
RESTAURANT
$3,030,000
Change: +61% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,570,000
Change: +37% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,050,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$2.35M
Range $2.11M – $2.58M · ±10% · vs last sale $2.84M (Feb 3 2026)
Last sale anchor
$2.84M
Feb 3 2026
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
$163 / 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
$8,265
Tax year 2022
Assessed value
$873,200
Assessed 2021
Previous assessed
$873,200
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$344,700
Assessed improvement
$528,500
Land market value
$344,700
Improvement market value
$528,500
Total market value
$873,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1985
Heating
NONE
Stories
1
Total area
14,400 SF
Lot
0.94 ac (40,859 SF)
APN
4077-133-001-0008
UPID
US90-0958776
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
WAREHOUSE, STORAGE Current
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$3.7M
AUTO REPAIR, GARAGE
Est. value
$3.5M
RETAIL STORES
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.3M
RESTAURANT
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (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
1985
Heating
NONE
Stories
1
Lot
0.94 ac
Current owner
From public records · entity-resolved
Tallwoods LLC
Entity
Mailing address
3141 AGATE BAY LN, BELLINGHAM, WA 98226-9441
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2026
$2,840,000
Tallwoods LLC
Agate Two LLC
Warranty Deed
$1,830,400 · Credit Union 1
Dec 31, 2009
—
Agate Two LLC
Walker,brent L & Cherie T
Warranty Deed
—
—
—
Brent L Walker
—
Deed Of Trust
related
$140,000 · Western Fsb
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 816 Spruce St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
