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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Investment properties
825 Water St, Port Townsend, WA 98368-5730
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-3271992
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Total area
10,600 SF
Lot
0.14 ac (6,098 SF)
Zoning code
C-III
APN
989700806
UPID
US90-3271992
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$655k
Owner & transaction history
Metis Group LLC · 15 yrs held
Metis Group LLC
since 2010
7 recorded transactions
Zoning & alternative use
C-III · Port Townsend, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+7.0%
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 Port Townsend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Port Townsend 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,015,000
Current use
AUTO REPAIR, GARAGE
$1,085,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$835,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$655k
Range $590k – $721k · ±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
$62 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$14,084
Tax year 2023
Assessed value
$1,570,780
Assessed 2023
Previous assessed
$1,520,751
+3.3% YoY
Effective rate
0.90%
On assessed value
Assessed land
$625,180
Assessed improvement
$945,600
Land market value
$625,180
Improvement market value
$945,600
Total market value
$1,570,780
Applied tax rate
110.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Heating
NONE
Total area
10,600 SF
Lot
0.14 ac (6,098 SF)
Zoning code
C-III
APN
989700806
UPID
US90-3271992
Jurisdiction
JEFFERSON
Zoning & alternative use
C-III · Port Townsend, WA
Zoning C-III · permitted uses
C-III · Port Townsend, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Port Townsend. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$835,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
Heating
NONE
Lot
0.14 ac
Current owner
From public records · entity-resolved
Metis Group LLC
Entity
Mailing address
736 REED ST, PORT TOWNSEND, WA 98368-4213
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 21, 2020
—
Metis Group LLC
—
Deed
related
$6,500,000 · Mount Baker Block Corp
Dec 15, 2010
—
Metis Group LLC
Nelson,kristen
Quit Claim Deed
related
—
Aug 31, 2010
$1,000,000
Kristen Nelson
Pothier Stephen
Grant Deed
related
$900,000 · Davos Cap
Aug 18, 2006
—
Lawrence M Graves
Graves,melissa A
Quit Claim Deed
related
—
Dec 2, 2005
$1,000,000
Lawrence Graves
Johnson G R & Joyce B Trust
Warranty Deed
related
$456,938 · Johnson G R & Joyce B Tr (tr)
—
—
Stephen G Pother
—
Deed Of Trust
$808,500 · Interbay Funding LLC
—
—
Metis Group LLC
—
Deed Of Trust
related
$835,000 · Kitsap Bank
—
—
Stephen G Pothier
—
Deed Of Trust
related
$367,500 · Lawrence M Graves
—
—
Metis Group LLC
—
Deed Of Trust
related
$6,500,000 · Mount Baker Block Corp
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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