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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Office buildings
106 Gilman Ave Arlington, WA 98223-1017
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US90-1310275
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1920
Construction
WOOD
Total area
2,362 SF
Lot
0.15 ac (6,534 SF)
Zoning code
17
APN
461800700700
UPID
US90-1310275
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
$690k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$535k
Owner & transaction history
Ben Wells Real Estate LLC · 13 yrs held
Ben Wells Real Estate LLC
since 2013
7 recorded transactions
Zoning & alternative use
17 · Arlington, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Arlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Arlington 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%
$750,000
6.5%
$690,000
7%
$640,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$840,000
Current use
COMMERCIAL (GENERAL)
$715,000
Change: -15% · Conversion: Easy
RETAIL STORES
$690,000
Change: -18% · Conversion: Moderate
WAREHOUSE, STORAGE
$680,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$227 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$3,380
Tax year 2023
Assessed value
$432,500
Assessed 2023
Previous assessed
$366,100
+18.1% YoY
Effective rate
0.78%
On assessed value
Assessed land
$176,600
Assessed improvement
$255,900
Land market value
$176,600
Improvement market value
$255,900
Total market value
$432,500
Applied tax rate
110.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1920
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
1
Bathrooms
2
Total area
2,362 SF
Lot
0.15 ac (6,534 SF)
Zoning code
17
APN
461800700700
UPID
US90-1310275
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
17 · Arlington, WA
Zoning 17 · permitted uses
17 · Arlington, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Arlington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$840,000
COMMERCIAL (GENERAL)
Est. value
$715,000
RETAIL STORES
Est. value
$690,000
WAREHOUSE, STORAGE
Est. value
$680,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1920
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.15 ac
Current owner
From public records · entity-resolved
Ben Wells Real Estate LLC
Entity
Mailing address
106 E GILMAN AVE, ARLINGTON, WA 98223-1017
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2013
$255,000
Ben Wells Real Estate LLC
Case,dean & Shirley
Warranty Deed
$191,250 · Union Bank
Nov 30, 1994
—
Case C D
Arlington Properties
Quit Claim Deed
related
$150,000 · Everett Mutual Savings Bank
—
—
Charles D Case
—
Deed Of Trust
related
$250,000 · Interwest Bank
—
—
Case C D
—
Deed Of Trust
related
$400,000 · North County Bank
—
—
Case C D
—
Deed Of Trust
related
$300,000 · First Heritage Bank
—
—
C Dean Case
—
Deed Of Trust
related
$430,000 · Frontier Bank
—
—
C Dean Case
—
Deed Of Trust
related
$125,000 · Frontier Bank
—
—
Case C D
—
Deed Of Trust
related
$635,000 · North County Bank
—
—
Charles D Case
—
Deed Of Trust
related
$25,000 · First Heritage Bank
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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