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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Office buildings
Freeland, WA 98249
Individually Owned
12-yr Hold
Free & Clear
Property ID
US90-2391093
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1998
Construction
WOOD
Total area
4,000 SF
Lot
0.83 ac (36,155 SF)
Zoning code
50
APN
R22911-009-0910
UPID
US90-2391093
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
$365k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$710k
Blend (final)
Blend
$540k
Owner & transaction history
Bk Heritage · 12 yrs held
Bk Heritage
since 2014
3 recorded transactions
Zoning & alternative use
50 · Freeland, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$640,000
+2.1%
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 Freeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Freeland 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
$365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$630,000
Current use
RETAIL STORES
$640,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$515,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$135 / 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
Property tax & assessments
Assessed value
$1,207,060
Assessed 2023
Previous assessed
$1,039,883
+16.1% YoY
Assessed land
$361,548
Assessed improvement
$845,512
Land market value
$361,548
Improvement market value
$845,512
Total market value
$1,207,060
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
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1998
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Total area
4,000 SF
Lot
0.83 ac (36,155 SF)
Zoning code
50
APN
R22911-009-0910
UPID
US90-2391093
Jurisdiction
ISLAND
Zoning & alternative use
50 · Freeland, WAZoning 50 · permitted uses
50 · Freeland, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$630,000
RETAIL STORES
Est. value
$640,000
COMMERCIAL (GENERAL)
Est. value
$515,000
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
1998
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
Bk Heritage
Individual
Free & Clear · 12 yrs held
Mailing address
201 5TH AVE SW #1578, OLYMPIA, WA 98501-1063
Ownership since
2014
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
May 19, 2014
—
Bk Heritage
Whidbey Island Bk
Quit Claim Deed
—
Jan 19, 2006
$150,000
Whidbey Island Bank
Wright,james R
Warranty Deed
related
—
Jan 12, 2006
—
Whidbey Island Bk
Whidbey Island Bk
Quit Claim Deed
related
—
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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