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Property profile & analytics
OFF-MARKET
Estimated value
$1,410,000
Warehouses
8200 87th SW Ave Lakewood, WA 98498
Entity Owned
7-yr Hold
Free & Clear
Property ID
US90-2819354
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1940
Construction
WOOD FRAME
Total area
7,623 SF
Lot
254.1 ac (11,068,596 SF)
APN
220321023
UPID
US90-2819354
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
$1.05M
CAP Approach
CAP
$1.43M
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$1.41M
Owner & transaction history
City Of Lakewood · 7 yrs held
City Of Lakewood
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.1M
+97.7%
Commercial (general)
$2.0M
+92.7%
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
$1,045,000
CAP Approach
CAP Return
Estimation
6%
$1,550,000
6.5%
$1,430,000
7%
$1,330,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,060,000
Current use
MEDICAL BUILDING
$2,095,000
Change: +98% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,040,000
Change: +93% · Conversion: Difficult
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±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
$185 / 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
$29,053
Tax year 2024
Assessed value
$107,089,600
Assessed 2024
Previous assessed
$107,089,600
+0.0% YoY
Effective rate
0.03%
On assessed value
Assessed land
$106,991,000
Assessed improvement
$98,600
Land market value
$106,991,000
Improvement market value
$98,600
Total market value
$107,089,600
Applied tax rate
763.0000
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
1940
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
7,623 SF
Lot
254.1 ac (11,068,596 SF)
APN
220321023
UPID
US90-2819354
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
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
$1.1M
MEDICAL BUILDING
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
WAREHOUSE, STORAGE 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
1940
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
254.1 ac
Current owner
From public records · entity-resolved
City Of Lakewood
Entity
Free & Clear · 7 yrs held
Mailing address
6000 MAIN ST SW, LAKEWOOD, WA 98499-5027
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2019
—
City Of Lakewood
Department Of Social & Health
Quit Claim Deed
related
—
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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