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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Warehouses
9822 32nd Ave S Ct Lakewood, WA 98499-9262
Entity Owned
28-yr Hold
~
Est. High Equity
Property ID
US90-0795844
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Construction
WOOD FRAME
Total area
3,360 SF
Lot
0.91 ac (39,638 SF)
Zoning code
AC1
APN
319062049
UPID
US90-0795844
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
$630k
Comparable Approach
Comparable
$801k
Blend (final)
Blend
$850k
Owner & transaction history
Investment Stetz · 28 yrs held
Investment Stetz
since 1998
4 recorded transactions
Zoning & alternative use
AC1 · Lakewood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the Air Corridor 1 zoning districts is to promote land use and development that is compatible with the aircraft noise and accident potential associated with the proximity to Joint Base Lewis McChord aircraft flight operations
Zone name
Air Corridor 1
General category
UNKNOWN
Zone area
339.29 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$1.2M
+140.9%
Commercial (general)
$1.1M
+105.3%
Medical building
$920,000
+79.2%
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%
$685,000
6.5%
$630,000
7%
$585,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$515,000
Current use
AUTO REPAIR, GARAGE
$1,240,000
Change: +141% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,055,000
Change: +105% · Conversion: Difficult
MEDICAL BUILDING
$920,000
Change: +79% · Conversion: Difficult
RETAIL STORES
$840,000
Change: +63% · Conversion: Moderate
Blend value · Realmo final
$850k
Range $765k – $935k · ±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
$253 / 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
$12,420
Tax year 2024
Assessed value
$1,097,200
Assessed 2024
Previous assessed
$1,097,200
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$607,700
Assessed improvement
$489,500
Land market value
$607,700
Improvement market value
$489,500
Total market value
$1,097,200
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
Off-Market
Year built
1987
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
3
Stories
2
Total area
3,360 SF
Lot
0.91 ac (39,638 SF)
Zoning code
AC1
APN
319062049
UPID
US90-0795844
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
AC1 · Lakewood, WAZoning AC1 · permitted uses
AC1 · Lakewood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the Air Corridor 1 zoning districts is to promote land use and development that is compatible with the aircraft noise and accident potential associated with the proximity to Joint Base Lewis McChord aircraft flight operations
Zone name
Air Corridor 1
General category
UNKNOWN
Zone area
339.29 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$515,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$920,000
RETAIL STORES
Est. value
$840,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
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
1987
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
3
Lot
0.91 ac
Current owner
From public records · entity-resolved
Investment Stetz
Entity
Mailing address
PO BOX 39220, LAKEWOOD, WA 98496-3220
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 1998
$300,000
Investment Stetz
Crittenden,theodore Y & Mary J
Grant Deed
$292,740 · Money Store Commercial Mtg
—
—
Stetz Investments LLC
—
Deed Of Trust
related
$10,000 · William L Hamilton
—
—
Stetz Investments LLC
—
Deed Of Trust
related
$454,822 · Northwest Commercial Bank
—
—
Theodore Y Crittenden
—
Deed Of Trust
related
$99,500 · Individual
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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