New search
Property profile & analytics
FOR LEASE
Office buildings
123 2Nd Ave S Edmonds, WA 98020
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0966409
For Lease
1 / 4
$6,240,000
123 2Nd Ave S, Edmonds, WA 98020
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2002
Construction
TYPE NOT SPECIFIED
Total area
31,626 SF
Lot
0.39 ac (16,988 SF)
Zoning code
BD2
APN
454800102000
UPID
US90-0966409
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
-
Orca Law Group, PLLC Law Firm
-
Affinity Contemporary Dentistry Dental Office
-
Chris Dime, CFP® - Dime & Associates (Financial Advisor) Financial Advisor
-
Masterdecks LLC Construction Company
-
Mortgage Lending Group LLC / The Broker Team Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.24M
Owner & transaction history
Tambe LLC A Washimngton Limited · 8 yrs held
Tambe LLC A Washimngton Limited
since 2018
7 recorded transactions
Zoning & alternative use
BD2 · 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
$197 / 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
$60,884
Tax year 2023
Assessed value
$8,867,400
Assessed 2023
Previous assessed
$8,301,800
+6.8% YoY
Effective rate
0.69%
On assessed value
Assessed land
$1,131,600
Assessed improvement
$7,735,800
Land market value
$1,131,600
Improvement market value
$7,735,800
Total market value
$8,867,400
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
For Lease
Year built
2002
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
2
Total area
31,626 SF
Lot
0.39 ac (16,988 SF)
Zoning code
BD2
APN
454800102000
UPID
US90-0966409
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BD2 · Edmonds, WA
Zoning BD2 · permitted uses
BD2 · 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
2002
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
0.39 ac
Current owner
From public records · entity-resolved
Tambe LLC A Washimngton Limited
Entity
Mailing address
14751 N KELSEY ST, MONROE, WA 98272-1457
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2021
—
Tambe LLC
—
Deed
related
$4,100,000 · Boeing Employees Cu
Feb 9, 2018
—
Tambe LLC A Washimngton Limited
Alcazar Enterprise Sllc A Washingto
Warranty Deed
$3,029,541 · First Citizens Bank & Trust Co
Jul 25, 2005
$5,843,412
Alcazar Enterprises LLC
Hugh S Ferguson
Warranty Deed
$5,440,000 · Wells Fargo Bank NA
Nov 30, 2001
—
Hugh S Ferguson
—
Grant Deed
related
$4,375,000 · Us Bank NA
Sep 1, 2000
$945,393
Hugh S Ferguson
Hopper,harold A & Carolee
Grant Deed
—
—
—
Alcazar Ents LLC
—
Deed Of Trust
related
$627,000 · Hugh S Ferguson
—
—
Alcazar Ents LLC
—
Loan Modification
related
$5,743,255 · 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
