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Property profile & analytics
FOR LEASE
Warehouses
8607 Durango St Southwest Lakewood, WA 98499
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0890155
For Lease
$9,500,000
8607 Durango St Southwest, Lakewood, WA 98499
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
47,500 SF
Lot
4.06 ac (176,810 SF)
Zoning code
I1
APN
6990200032
UPID
US90-0890155
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 Heating & Cooling Hardware & Home Improvement HVAC Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.50M
CAP Approach
CAP
$9.50M
Comparable Approach
Comparable
$9.18M
Blend (final)
Blend
$9.50M
Owner & transaction history
Pacific Real Estate LLC · 1 yrs held
Pacific Real Estate LLC
since 2024
Last sale
$9.5M
7 recorded transactions
Zoning & alternative use
I1 · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$14.9M
+105.3%
Retail stores
$11.9M
+63.2%
Medical building
$11.6M
+59.8%
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
$9,500,000
ML approach
$9,500,000
CAP Approach
CAP Return
Estimation
6%
$10,295,000
6.5%
$9,500,000
7%
$8,820,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,275,000
Current use
COMMERCIAL (GENERAL)
$14,940,000
Change: +105% · Conversion: Difficult
RETAIL STORES
$11,875,000
Change: +63% · Conversion: Moderate
MEDICAL BUILDING
$11,625,000
Change: +60% · Conversion: Difficult
Blend value · Realmo final
$9.50M
Range $8.55M – $10.45M · ±10% · vs last sale $9.50M (Jul 31 2024)
Last sale anchor
$9.50M
Jul 31 2024
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
$200 / 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
$97,297
Tax year 2024
Assessed value
$8,535,200
Assessed 2024
Previous assessed
$8,535,200
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$3,372,900
Assessed improvement
$5,162,300
Land market value
$3,372,900
Improvement market value
$5,162,300
Total market value
$8,535,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Units
1
Total area
47,500 SF
Lot
4.06 ac (176,810 SF)
Zoning code
I1
APN
6990200032
UPID
US90-0890155
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
I1 · Tacoma, WA
Zoning I1 · permitted uses
I1 · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$7.3M
COMMERCIAL (GENERAL)
Est. value
$14.9M
RETAIL STORES
Est. value
$11.9M
MEDICAL BUILDING
Est. value
$11.6M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
4.06 ac
Current owner
From public records · entity-resolved
Pacific Real Estate LLC
Entity
Mailing address
9123 80TH AVE SW, LAKEWOOD, WA 98498-5985
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Jul 31, 2024
$9,500,000
Pacific Real Estate LLC
Brookdale Properties LLC
Warranty Deed
$7,600,000 · Bank Of America NA
Mar 7, 2012
—
Brookdale Properties LLC
Rhine Property Holdings LLC
Quit Claim Deed
related
—
Jun 20, 2005
$3,150,000
Brookdale Properties LLC
Bgw & B
Warranty Deed
—
Jun 20, 2005
$800,000
Killingsworth LLC
Bgw & B
Warranty Deed
—
Mar 27, 2002
—
Bgw LP
—
Deed Of Trust
related
$1,346,073 · Heritage Savings Bank Fsb
Mar 7, 2001
—
Bgw LP
—
Deed Of Trust
related
$2,893,993 · Heritage Savings Bank Fsb
May 27, 1998
$11,419
Rodney A Mclean
Bgw & B Ltd
Quit Claim Deed
related
—
Jun 30, 1989
$487,575
Bgw & B Limited
Unknown
Grant Deed
—
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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