New search
Property profile & analytics
OFF-MARKET
Estimated value
$7,765,000
Warehouses
9704 47th SW Ave, Lakewood, WA 98499-5977
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-1555598
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1944
Construction
WOOD FRAME
Total area
32,890 SF
Lot
21.16 ac (921,730 SF)
Zoning code
IBP
APN
4002220030
UPID
US90-1555598
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
-
Greatwide pallets Big Box & Wholesale Store Building Supply
-
Greatwide Logistics Services, LLC Logistics Company Freight Service
-
Chep Lakewood Service Center Company
-
Northwest Buildings LLC Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.18M
Comparable Approach
Comparable
$7.84M
Blend (final)
Blend
$7.77M
Owner & transaction history
Nwb Lakewood LLC · 2 yrs held
Nwb Lakewood LLC
since 2023
5 recorded transactions
Zoning & alternative use
IBP · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$12.8M
+154.3%
Auto repair, garage
$12.1M
+140.9%
Commercial (general)
$10.3M
+105.3%
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%
$6,695,000
6.5%
$6,180,000
7%
$5,740,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,040,000
Current use
APARTMENT HOUSE (5+ UNITS)
$12,810,000
Change: +154% · Conversion: Difficult
AUTO REPAIR, GARAGE
$12,135,000
Change: +141% · Conversion: Easy
COMMERCIAL (GENERAL)
$10,345,000
Change: +105% · Conversion: Difficult
MEDICAL BUILDING
$9,030,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$7.77M
Range $6.99M – $8.54M · ±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
$236 / 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
$415,607
Tax year 2024
Assessed value
$36,348,500
Assessed 2024
Previous assessed
$36,348,500
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$17,396,900
Assessed improvement
$18,951,600
Land market value
$17,396,900
Improvement market value
$18,951,600
Total market value
$36,348,500
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
Off-Market
Year built
1944
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Buildings
7
Stories
1
Total area
32,890 SF
Lot
21.16 ac (921,730 SF)
Zoning code
IBP
APN
4002220030
UPID
US90-1555598
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
IBP · Lakewood, WA
Zoning IBP · permitted uses
IBP · 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.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$5.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.8M
AUTO REPAIR, GARAGE
Est. value
$12.1M
COMMERCIAL (GENERAL)
Est. value
$10.3M
MEDICAL BUILDING
Est. value
$9.0M
WAREHOUSE, STORAGE Current
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
1944
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
7
Lot
21.16 ac
Current owner
From public records · entity-resolved
Nwb Lakewood LLC
Entity
Free & Clear · 2 yrs held
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2023
—
Nwb Lakewood LLC
Northwest Building LLC
Special Warranty Deed
—
Oct 26, 2016
—
Northwest Building LLC
—
Deed
related
$100,000,000 · Miscellaneous Ins Co
Aug 10, 2005
$1,023,076
City Of Lakewood
Northwest Building LLC
Warranty Deed
—
—
—
Northwest Building LLC
—
Deed Of Trust
related
$80,000,000 · Miscellaneous Ins Co
—
—
Northwest Building LLC
—
Loan Modification
related
$100,000,000 · Miscellaneous Ins Co
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 9704 47th SW Ave?
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.
