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Property profile & analytics
OFF-MARKET
Estimated value
$1,565,000
Office buildings
11709 Cyrus Way Mukilteo, WA 98275-5406
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-0296877
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1996
Construction
WOOD
Total area
4,100 SF
Lot
1.37 ac (59,677 SF)
Zoning code
Q5
APN
441400002500
UPID
US90-0296877
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
-
Economy Fence Center General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.20M
Comparable Approach
Comparable
$1.73M
Blend (final)
Blend
$1.57M
Owner & transaction history
Selway River LLC · 9 yrs held
Selway River LLC
since 2017
7 recorded transactions
Zoning & alternative use
Q5 · Mukilteo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+21.7%
Medical building
$1.6M
+9.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,300,000
6.5%
$1,200,000
7%
$1,115,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,460,000
Current use
AUTO REPAIR, GARAGE
$1,780,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$1,600,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,245,000
Change: -15% · Conversion: Easy
RETAIL STORES
$1,195,000
Change: -18% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,185,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.57M
Range $1.41M – $1.72M · ±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
$382 / 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
$8,216
Tax year 2023
Assessed value
$1,170,000
Assessed 2023
Previous assessed
$1,037,300
+12.8% YoY
Effective rate
0.70%
On assessed value
Assessed land
$1,115,000
Assessed improvement
$55,000
Land market value
$1,115,000
Improvement market value
$55,000
Total market value
$1,170,000
Applied tax rate
673.0000
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
1996
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
3
Stories
1
Rooms
4
Bathrooms
1
Total area
4,100 SF
Lot
1.37 ac (59,677 SF)
Zoning code
Q5
APN
441400002500
UPID
US90-0296877
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
Q5 · Mukilteo, WA
Zoning Q5 · permitted uses
Q5 · Mukilteo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mukilteo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1996
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Rooms
4
Bathrooms
1
Lot
1.37 ac
Current owner
From public records · entity-resolved
Selway River LLC
Entity
Mailing address
11709 CYRUS WAY, MUKILTEO, WA 98275-5406
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2017
$1,820,000
Selway River LLC
Michael P Klein
Quit Claim Deed
related
$1,365,000 · Coastal Community Bank
Sep 24, 2010
$1,487,280
Cyrus Way Holdings LLC
Tamarack Unlimited LLC
Warranty Deed
$753,574 · Wells Fargo Bank NA
Aug 4, 2010
—
Scott R Ograin
Parker-ograin,laurie
Quit Claim Deed
related
—
May 1, 2001
$912,500
Tamarack Unlimited LLC
Parrish,duane A & Karen J
Grant Deed
$730,000 · Banner Bank
Jun 5, 1997
$610,000
Duane A Parrish
Thorsen,roy J & Ann C
Grant Deed
$540,000 · Seller
Apr 26, 1996
—
Roy J Thorsen
—
Grant Deed
related
$151,927 · Frontier Bank
Sep 1, 1989
$265,000
Circuit Graphics INC
Unknown
Grant Deed
—
—
—
Cyrus Way Holdings LLC
—
Deed Of Trust
related
$622,000 · Ameritrust Cdc
—
—
Roy J Thorsen
—
Deed Of Trust
related
$249,500 · Frontier Bank
—
—
Duane W Parrish
—
Deed Of Trust
related
$600,000 · Cascade Bank
—
—
Tamarack Unlimited LLC
—
Deed Of Trust
related
$850,000 · Banner Bank
—
—
Tamarack Unlimited LLC
—
Deed Of Trust
related
$720,000 · Us Bank NA
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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