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    18122 Wa-9 Snohomish, WA 98296
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    18122 Wa-9, Snohomish, WA 98296

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    • Restaurants
    • 15,495 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Restaurants

    Property Details for 18122 Wa-9

    Year built
    1985
    Property type
    Restaurants
    Property subtype
    Office Spaces

    Description

    This Snohomish, WA commercial property, Clearview Professional Plaza, LLC, offers a diverse range of office spaces, ideal for various business needs. Located at 18122 WA-9, Snohomish, WA 98296 (Cross Street: S 180th Ave & SR 9 SE), this Class B property boasts a total of 15,495 square feet across 27 suites within a single building on a 3.75-acre lot. Built in 1985 and renovated in 2017, the property features multiple tenancy options, with spaces ranging from a minimum of 86 square feet to a maximum contiguous space of 86 square feet. Currently, 2,866 square feet are vacant. The property is categorized as Traditional Office, Medical Office, Commercial, and Industrial, offering flexibility for a variety of businesses. Up to 1500 square feet of corner retail space is also available, with drive-in potential. The property's APN is 270514-001-033-00, located in the Clearview submarket of Snohomish County. Note that there are no elevators on site. This presents a unique opportunity for businesses seeking flexible and adaptable office space in a well-maintained building within a convenient location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Snohomish
    County
    Snohomish
    State
    Washington
    Longitude
    -122.127
    Latitude
    47.8325

    Comparable in this City

    • Value Estimation
      $2,535,000
      10,544 SF

      18122 State Rte 9th SE

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      18122 State Rte 9th SE, Snohomish, WA 98296-5384
      View Details
    • Value Estimation
      $720,000
      6,580 SF

      17606 State Rte 9th SE

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      17606 State Rte 9th SE, Snohomish, WA 98296-8364
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    • Value Estimation by Request
      1,080 SF

      17903 State Rte 9th SE

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      17903 State Rte 9th SE, Snohomish, WA 98296-5325
      View Details
    • Value Estimation
      $2,060,000
      18,660 SF

      20515 Broadway Ave

      INDUSTRIAL (GENERAL)
      20515 Broadway Ave, Snohomish, WA 98296
      View Details
    • Value Estimation by Request
      0.55 Acres

      Snohomish, WA 98296

      INDUSTRIAL (GENERAL)
      Snohomish, WA 98296
      View Details
    • Value Estimation by Request
      18,331 SF

      20203 Broadway Ave

      LUMBERYARD, BUILDING MATERIALS
      20203 Broadway Ave, Snohomish, WA 98296-7937
      View Details

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    Snohomish, WA 98296
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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