Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,410,000
Retail space
8916 Lakewood SW Dr Lakewood, WA 98499-3967
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0604472
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1982
Construction
WOOD FRAME
Total area
7,700 SF
Lot
1.26 ac (55,060 SF)
Zoning code
NC2
APN
220358006
UPID
US90-0604472
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
$4.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.30M
Blend (final)
Blend
$3.41M
Owner & transaction history
Nourish Pierce County · 3 yrs held
Nourish Pierce County
since 2023
Last sale
$3.7M
3 recorded transactions
Zoning & alternative use
NC2 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Neighborhood Commercial 2 zoning district is intended to foster a sense of urban community in Lakewood The district provides for a concentrated mix of activities, including residential, retail, office, and local services, which may serve the surrounding neighborhood or may serve more than one neighborhood and attract people from other areas
Zone name
Neighborhood Commercial 2
General category
COMMERCIAL
Zone area
268.38 ac
Source
Realmo
Top alternative use upside
Restaurant
$3.5M
+84.3%
Neighborhood: shopping center
$3.3M
+70.5%
Industrial (general)
$3.3M
+68.9%
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
$3,350,000
ML approach
$4,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,545,000
Change: +84% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,280,000
Change: +70% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,250,000
Change: +69% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,000,000
Change: +56% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,840,000
Change: +48% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,420,000
Change: +26% · Conversion: Easy
MEDICAL BUILDING
$2,115,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$3.41M
Range $3.07M – $3.75M · ±10% · vs last sale $3.70M (Jan 23 2023)
Last sale anchor
$3.70M
Jan 23 2023
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
$443 / 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
$20,179
Tax year 2024
Assessed value
$1,754,100
Assessed 2024
Previous assessed
$1,754,100
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$1,448,500
Assessed improvement
$305,600
Land market value
$1,448,500
Improvement market value
$305,600
Total market value
$1,754,100
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1982
Construction
WOOD FRAME
Heating
SPACE
Buildings
3
Stories
2
Units
1
Total area
7,700 SF
Lot
1.26 ac (55,060 SF)
Zoning code
NC2
APN
220358006
UPID
US90-0604472
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2 · Lakewood, WAZoning NC2 · permitted uses
NC2 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Neighborhood Commercial 2 zoning district is intended to foster a sense of urban community in Lakewood The district provides for a concentrated mix of activities, including residential, retail, office, and local services, which may serve the surrounding neighborhood or may serve more than one neighborhood and attract people from other areas
Zone name
Neighborhood Commercial 2
General category
COMMERCIAL
Zone area
268.38 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.3M
INDUSTRIAL (GENERAL)
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.1M
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1982
Construction
WOOD FRAME
Heating
SPACE
Stories
2
Buildings
3
Units
1
Lot
1.26 ac
Current owner
From public records · entity-resolved
Nourish Pierce County
Entity
Mailing address
1702 S 72ND ST E STE E, TACOMA, WA 98408-1238
Ownership since
2023
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
Jan 23, 2023
$3,700,000
Nourish Pierce County
Sadtler Property LLC
Warranty Deed
$2,950,000 · Sadtler Property LLC
Nov 21, 2012
$1,430,000
Sadtler Property LLC
9116 Lakewood Property LLC
Warranty Deed
$1,155,226 · Kitsap Bank
May 2, 1995
$865,000
9116 Lakewood Property LLC
Spingola,kenneth E
Grant Deed
$768,750 · First Interstate Bank Washingt
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 8916 Lakewood SW Dr?
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.
