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Property profile & analytics
OFF-MARKET
Estimated value
$2,640,000
Flex space
8601 38th SW Ave Lakewood, WA 98499-4561
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1369045
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1998
Construction
STEEL FRAME
Total area
20,000 SF
Lot
1.23 ac (53,448 SF)
Zoning code
C2
APN
7900000073
UPID
US90-1369045
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
-
Pacific Machine Inc Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.10M
Comparable Approach
Comparable
$2.25M
Blend (final)
Blend
$2.64M
Owner & transaction history
Pacific Machine Partners INC · 4 yrs held
Pacific Machine Partners INC
since 2022
7 recorded transactions
Zoning & alternative use
C2 · Lakewood, 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 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
by Request
CAP Approach
CAP Return
Estimation
6%
$3,350,000
6.5%
$3,095,000
7%
$2,875,000
Blend value · Realmo final
$2.64M
Range $2.38M – $2.90M · ±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
$132 / 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
$25,942
Tax year 2024
Assessed value
$2,252,200
Assessed 2024
Previous assessed
$2,252,200
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$787,000
Assessed improvement
$1,465,200
Land market value
$787,000
Improvement market value
$1,465,200
Total market value
$2,252,200
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1998
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Units
1
Total area
20,000 SF
Lot
1.23 ac (53,448 SF)
Zoning code
C2
APN
7900000073
UPID
US90-1369045
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
C2 · Lakewood, WA
Zoning C2 · permitted uses
C2 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakewood. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1998
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Units
1
Lot
1.23 ac
Current owner
From public records · entity-resolved
Pacific Machine Partners INC
Entity
Mailing address
1520 PT FOSDICK DR NW, GIG HARBOR, WA 98335-7861
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Jan 6, 2022
—
Pacific Machine Partners INC
J M T & Associates LLC
Agreement Of Sale
—
Jan 27, 2014
$1,324,719
J M T & Associates LLC
Timkar LLC
Warranty Deed
$1,192,500 · Commencement Bank
Dec 17, 2004
$970,000
Timkar LLC
Lee,choon B & Yun C
Warranty Deed
$873,000 · Cnl Commercial Finance INC
Feb 27, 1998
$300,000
Choon B Lee
Mclean,rodney A
Grant Deed
$150,000 · Key Bank NA
—
—
Jmt & Associates LLC
—
Deed Of Trust
related
$547,000 · Evergreen Busn Cap
—
—
Timkar LLC
—
Deed Of Trust
related
$1,059,936 · Columbia State Bank
—
—
Choon B Lee
—
Deed Of Trust
related
$1,000,000 · Northwest International Bank
—
—
Choon B Lee
—
Deed Of Trust
related
$201,802 · Key Bank NA
—
—
Choon B Lee
—
Deed Of Trust
related
$600,000 · Key Bank NA
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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