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    11811 Mukilteo Speedway Mukilteo, WA 98275-5442
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    Property profile & analytics

    11811 Mukilteo Speedway Mukilteo, WA 98275-5442

    View on Map
    • Retail space
    • 18,520 SF
    • 1.96 lot acres
    Off-Market
    Property ID
    US90-1055801
    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
    $3,170,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tina Chun, REALTOR® / Real Estate Agency
    • Gyro Stop / Restaurant
    • Bernard Jones / Alternative Medicine Practice
    • Azteca Mexican Restaurants / Restaurant
    • CoinFlip Bitcoin ATM / Business To Business Service / Commercial Agent

    Property Details for 11811 Mukilteo Speedway

    Year built
    1996
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.96 lot acres
    Property size
    18,520 SF
    Zone code
    SG
    Property type
    Retail space
    APN
    820000000100
    APU
    820000000100

    Description

    This exceptional retail property, located at 11811 Mukilteo Speedway in Mukilteo, Washington, offers a prime opportunity for businesses seeking high-visibility space in a thriving community. The building, constructed in 1996, boasts a total of 10,010 square feet, currently entirely vacant and available for lease. Flexible space options are available, ranging from a minimum of 1,000 square feet to a maximum contiguous space of 9,010 square feet, catering to a variety of business needs and sizes. The property's convenient location along Mukilteo Speedway ensures excellent exposure to high traffic volume, maximizing visibility and accessibility for potential customers. Ample parking is provided with 200 spaces available for tenants and their customers. This property is situated in Snohomish County, Washington, with a 98275 zip code, offering easy access to major transportation routes and a strong local customer base. The property is classified as a multi-tenant retail space, presenting a unique chance to establish a presence in a well-maintained and strategically located commercial building. The entire 10,010 square feet is ready for immediate occupancy, making it an ideal location for a single large tenant or multiple smaller businesses. Don't miss this chance to secure a prominent retail space in a desirable Mukilteo location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,350,000
      6.5%
      $4,015,000
      7%
      $3,730,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mukilteo
    County
    Snohomish
    State
    Washington
    Longitude
    -122.285
    Latitude
    47.8915
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $58,022
    $1,973,700
    $4,906,300
    $6,880,000
    -
    $1,973,700
    $4,906,300
    $6,880,000

    Comparable in this City

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      $540,000
      2,850 SF

      11706 Mukilteo Speedway

      RETAIL STORES (PERSONAL SERVICES) • 2,850 SF
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      View Details
    • Value Estimation by Request
      2,800 SF

      12704 Mukilteo Speedway

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    • Value Estimation
      $8,785,000
      39,807 SF

      11700 Mukilteo Speedway

      RETAIL STORES (PERSONAL SERVICES) • 39,807 SF
      11700 Mukilteo Speedway, Mukilteo, WA 98275-5432
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    • Value Estimation
      $1,265,000
      8,387 SF

      9999 Harbour Pl

      RETAIL STORES (PERSONAL SERVICES) • 8,387 SF
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    • Value Estimation
      $1,345,000
      9,356 SF

      11601 Harbour Pointe Blvd

      RETAIL STORES (PERSONAL SERVICES) • 9,356 SF
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      View Details
    • Value Estimation by Request
      2,144 SF

      403 Lincoln Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,144 SF
      403 Lincoln Ave, Mukilteo, WA 98275-1503
      View Details

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    Similar Nearby for Lease

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      Retail Space in Mukilteo, WA

      Retail space available for lease in Mukilteo, Washington.
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      Prime retail location near Boeing and Paine Field.
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      Retail Space on Mukilteo Speedway

      Prime retail location near Boeing and Paine Field.
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      View Details
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    Mukilteo, WA 98275-5442
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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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