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Property profile & analytics
OFF-MARKET
Estimated value
$2,095,000
Office buildings
115 2nd N Ave Edmonds, WA 98020-3192
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US90-1256815
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1981
Construction
TYPE NOT SPECIFIED
Total area
10,779 SF
Lot
0.17 ac (7,405 SF)
Zoning code
E0
APN
434401200300
UPID
US90-1256815
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
-
Sage Advisors, LLC Financial Advisor
-
Absolute Mortgage Edmonds Location Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.10M
Owner & transaction history
Teal Properties Edmonds LLC · 17 yrs held
Teal Properties Edmonds LLC
since 2008
5 recorded transactions
Zoning & alternative use
E0 · Edmonds, 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 Edmonds submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edmonds 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$194 / 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
$18,676
Tax year 2023
Assessed value
$2,720,000
Assessed 2023
Previous assessed
$2,694,800
+0.9% YoY
Effective rate
0.69%
On assessed value
Assessed land
$738,000
Assessed improvement
$1,982,000
Land market value
$738,000
Improvement market value
$1,982,000
Total market value
$2,720,000
Applied tax rate
210.0000
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
1981
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
3
Total area
10,779 SF
Lot
0.17 ac (7,405 SF)
Zoning code
E0
APN
434401200300
UPID
US90-1256815
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
E0 · Edmonds, WA
Zoning E0 · permitted uses
E0 · Edmonds, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Edmonds. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1981
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Lot
0.17 ac
Current owner
From public records · entity-resolved
Teal Properties Edmonds LLC
Entity
Mailing address
20818 44TH AVE W STE #202, LYNNWOOD, WA 98036-7709
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2020
—
Teal Properties LLC
—
Deed
related
$4,000,000 · Wells Fargo Bk
Aug 1, 2008
—
Teal Properties Edmonds LLC
Teal,william B & Jan
Quit Claim Deed
related
—
Oct 31, 2001
$2,150,000
William B Teal
Hhd Associates LLC
Grant Deed
$1,612,500 · Bank Of America
—
—
William B Teal
—
Deed Of Trust
related
$1,243,667 · Bank Of America
—
—
Teal Properties LLC
—
Loan Modification
related
$4,000,000 · Wells Fargo Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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