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    112 Gilkey Rd Burlington, WA 98233

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    112 Gilkey Rd Burlington, WA 98233

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    • Office Units
    • 1,579 SF
    For Sale
    $500,000
    View Listing →
    Mixed-Use Property Near Shopping Center For Sale
    $500,000
    1,579 SF

    Mixed-Use Property Near Shopping Center

    1,579 SF mixed-use space on 10,018 SF land.

    112 Gilkey Rd, Burlington, WA 98233
    View Listing
    Property ID
    US90-0239093
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Units

    Property Details for 112 Gilkey Rd

    Year built
    1955
    Property size
    1,579 SF
    Property type
    Office Units
    Property subtype
    Commercial land

    Description

    1,579 +/- sf office/urban residential space on 10,018 +/- sf land. Located across from the Fred Meyer Shopping Center. Currently occupied; please call listing agent for showings. Zoned MUC-2: Mixed Use Commercial. [All information deemed reliable however not guaranteed; verification recommended.] *the sale of this property is only being sold together with 1126 S Burlington Blvd

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Skagit
    State
    Washington
    Longitude
    -122.3343688
    Latitude
    48.4643466

    Comparable in this City

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      1,132 SF

      Class A Office Space Available

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      Commercial Land with Freeway Frontage

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      1,132 SF

      Class A Office Space Available

      Turn-key office space in Advantage Business Park, Burlington, WA.
      325 E George Hopper Rd, Burlington, WA 98233
      View Details
    • $1,500,000
      0.11 Acres

      Burlington Office Suites For Sale

      Professionally finished office suites in Burlington's Advantage Business Park.
      325 East George Hopper Rd, Burlington, WA 98233
      View Details
    • Contact for pricing

      Burlington Office Space For Rent

      Office suites available for lease in Burlington, Washington.
      195 East George Hopper Rd, Burlington, WA 98233
      View Details
    • Contact for pricing

      Commercial Land Near I-5 Exit

      0.91 acre commercial land parcel with utilities in place.
      1615 S Walnut St, Burlington, WA 98233
      View Details
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      Commercial Land with Freeway Frontage

      Ten commercial lots with excellent freeway access and visibility.
      1110 Waldschmidt Acres St, Burlington, WA 98233
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    • Contact for pricing

      Commercial Land Near Freeway Access

      20.6 acre commercial land with convenient freeway access.
      S Goldenrod Rd, Burlington, WA 98233
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    Similar Nearby for Lease

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      Office Space Near I-5

      Office space available for sublease near I-5 exit.
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      Office/Urban Residential Space For Sale

      1,579 +/- sf office/urban residential space on 10,018 +/- sf land.
      112 Gilkey Rd, Burlington, WA 98233
      View Details
    • Contact for pricing
      2,925 SF

      Iconic Burlington Boulevard Corner Location

      Updated, architecturally significant space suitable for office or medical use.
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      Burlington Office Space for Lease

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      1,368 SF

      Retail/Office Space in Burlington

      1,368 SF retail/office space available for rent.
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      Burlington Office Space For Rent

      Second-floor office space near downtown Burlington and Burlington High School.
      239 S Burlington Blvd, Burlington, WA 98233
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    View Listing
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    112 Gilkey Rd
    Burlington, WA 98233
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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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