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Property profile & analytics
OFF-MARKET
Estimated value
$2,850,000
Industrial properties
11208 47th W Ave Mukilteo, WA 98275-5002
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1084409
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1986
Construction
TYPE NOT SPECIFIED
Total area
17,111 SF
Lot
0.42 ac (18,295 SF)
Zoning code
IP
APN
715100002700
UPID
US90-1084409
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
Current use
Occupant on record · Public records
-
Veritas Millwork Industrial Manufacturer
-
Polar Bear Exterior Solutions Construction Company General Contractor
-
Cub Systems Production Facility Metal Fabrication Plant
-
Transport Marketplace (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.16M
CAP Approach
CAP
$2.56M
Comparable Approach
Comparable
$3.94M
Blend (final)
Blend
$2.85M
Owner & transaction history
Midnight Sun Properties LLC · 5 yrs held
Midnight Sun Properties LLC
since 2021
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
IP · Mukilteo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district IP is to promote Industrial Park uses.
Zone name
Industrial Park
General category
INDUSTRIAL
Zone area
210.19 ac
Source
Realmo
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 Mukilteo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mukilteo 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
$3,135,000
ML approach
$3,160,000
CAP Approach
CAP Return
Estimation
6%
$2,770,000
6.5%
$2,555,000
7%
$2,375,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,340,000
Current use
Blend value · Realmo final
$2.85M
Range $2.57M – $3.14M · ±10% · vs last sale $2.70M (Jun 16 2021)
Last sale anchor
$2.70M
Jun 16 2021
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
$167 / 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
$16,702
Tax year 2023
Assessed value
$2,380,000
Assessed 2023
Previous assessed
$2,241,500
+6.2% YoY
Effective rate
0.70%
On assessed value
Assessed land
$447,500
Assessed improvement
$1,932,500
Land market value
$447,500
Improvement market value
$1,932,500
Total market value
$2,380,000
Applied tax rate
671.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1986
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
2
Total area
17,111 SF
Lot
0.42 ac (18,295 SF)
Zoning code
IP
APN
715100002700
UPID
US90-1084409
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IP · Mukilteo, WAZoning IP · permitted uses
IP · Mukilteo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district IP is to promote Industrial Park uses.
Zone name
Industrial Park
General category
INDUSTRIAL
Zone area
210.19 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.3M
INDUSTRIAL (GENERAL) Current
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
1986
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
0.42 ac
Current owner
From public records · entity-resolved
Midnight Sun Properties LLC
Entity
Mailing address
MUKILTEO, WA 98275
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 6, 2021
—
Midnight Sun Properties LLC
—
Deed
related
$1,108,000 · Evergreen Business Capital
Jun 16, 2021
$2,700,000
Midnight Sun Properties LLC
Kristine D Vandersanden
Warranty Deed
$2,456,280 · 1st Security Bank Of Washington
Jun 15, 2021
—
Roy F Koval
Kathy L Koval
Intrafamily Transfer
related
—
May 16, 2016
—
Roy Koval
—
Deed
related
$468,833 · Us Bank Trust Company National Associati
Jul 1, 1989
$760,000
Roy V Koval
Unknown
Grant Deed
—
—
—
Douglas F Vandersanden
—
Deed Of Trust
related
$570,000 · Us Bank NA
—
—
Roy Koval
—
Deed Of Trust
related
$468,833 · Us Bk
—
—
Roy V Koval
—
Deed Of Trust
related
$645,000 · Cascade 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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