FOR LEASE
Other industrial properties
Property ID
US90-3263501
Entity Owned Owner of record is a legal entity (LLC / corporation).
7-yr Hold Held for 7 years.
Absentee Owner Owner mailing address differs from the property address.
Free & Clear No active or open recorded mortgage detected.
Entity Owned 
For Lease
1 / 2
$4,655,000
12125 Harbour Reach Dr, Mukilteo, WA 98275
View Listing
Property summary
AI-generated overview
The property is a flex space totaling 21,386 square feet, including 11,894 square feet of office area. The interior can be demised, allowing for flexible office configurations. The space is configured to support office, industrial, and commercial real estate uses.
Ownership intelligence
Who controls the opportunity?
Resolved identity, portfolio, hold profile and investor signals. Included in the full report.
Owner contacts
Can we reach the decision maker?
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
What is owed, to whom, and when it comes due
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2023
What does the county charge?
$46k
Tax billed · 2023
Assessed value$6.54M
Assessed land$1.69M
Assessed improvement$4.85M
Effective rate0.70%
Value estimate
· Sep 2026$4.66M
$4.19M – $5.12M
CAP approach$5.69M
NOI build-up
Gross scheduled income$101k
Vacancy & credit loss−$13k
Operating expenses−$22k
NOI · 4,401,800.00% cap applied$66k
Realmo valuation models over county records and 3 qualifying comparable sales.
Recently sold
What actually traded nearby?
$254/SF
County average, outlier-cleaned · 92 recorded sales of this use type
Observed band · Q1–Q3$138 – $512
Qualifying comparables3
Cap rate analysis
How does the asset earn?
4,401,800.00%
$66k estimated NOI · market benchmarks for this use type
Price anchors at 6 / 6.5 / 7% — in the full report.
Zoning insight
What can be built here?
IP
The purpose of this district IP is to promote Industrial Park uses.
General categoryINDUSTRIAL
JurisdictionSNOHOMISH
Location intelligence
Which uses thrive at this corner?
Best fit: Law Firm
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Law Firm14.3
Parking Facility10.6
Pawn Shop10.1
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
✓ County assessor
✓ Recorded deeds · 5 transfers
✓ 3 qualifying comp sales
✓ Zoning catalog
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$4.66M
Value range
$4.19M – $5.12M
±10% around blend
Estimated value / SF
$122 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
30
Income certainty
100
$4.19M
blend $4.66M
$5.12M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
38,068 SF
Lot area
2.21 ac
Year built
2001
Stories
2
APN
788400002609
Zoning
IP
Assessed value · 2023
$6,540,000
Annual tax · 2023
$45,878
3
Income approach: direct capitalization
Partial preview
Income approach indication
$5.69M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$6.16M
@ 6.5% CAP return
$5.69M
@ 7% CAP return
$5.28M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax · 2023
$45,878
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$7.17M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale date
Sale price
$ / SF
14.0 mi away · 48,912 SF
19.7 mi away · 44,060 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.66M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)
Average
Subject delta
County 92 sales
$254
-52%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $122/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$943k
Move the market yield to see immediate price impact.
Value / SF
$25
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$59k
$1.19M
$849k
$660k
$66k
$1.32M
$943k
$734k
$73k
$1.45M
$1.04M
$807k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$8.13M
6.0 mi · Mar 2026 · $233/SF
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Building & lot
Public records
Property type
Other industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
2001
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
2
Total area
38,068 SF
Lot
2.21 ac (96,268 SF)
Zoning code
IP
APN
788400002609
UPID
US90-3263501
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Property tax & assessments
Tax year 2023
Tax billed
$45,878
Assessed value
$6,540,000
Assessed 2023
Previous assessed
$6,167,000
+6.0% YoY
Effective rate
0.70%
On assessed value
Assessed land
$1,692,300
Assessed improvement
$4,847,700
Land market value
$1,692,300
Improvement market value
$4,847,700
Total market value
$6,540,000
Applied tax rate
673.0000
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
Jurisdiction
Mukilteo, WA
Recorded code
IP
Category
INDUSTRIAL
Official district
IP
Codes and permitted uses for this address
Registration is required before the official district profile is shown.
Official district profile
What the municipal code says about IP
Zoning description
The purpose of this district IP is to promote Industrial Park uses.
General category
INDUSTRIAL
Owner Contacts
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Mortgages · part of Ownership Intelligence
See what the owner owes, and when it comes due.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
What opens after registration
Ownership report
Recorded loansLender, amount and origination for every instrument
Estimated maturityWhen the debt comes due and the refi window opens
Rates & liensRecorded or estimated rate, junior liens flagged
CollateralWhich holding secures each loan - this property marked
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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- Location Insight
- Alternative use
- Local Zoning Insight
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