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123 2Nd Ave S, Edmonds, WA 98020
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Property summary
AI-generated overview
This professional office space is located in downtown Edmonds and totals 1,278 square feet. The interior layout includes an open area and a private office, along with access to a shared kitchen area. The space is ADA accessible and includes two parking spaces located in a secure parking garage.
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
Current use
Occupant on record · Public records
-
Law Firm
-
Dental Office
-
Financial Advisor
-
Construction Company
-
Real Estate Agency
Location
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
since 2018
7 recorded transactions
Zoning & alternative use
BD2 · Edmonds, WA
Zoning description
District for retail,office, entertainment and associated businesses supported by nearby residents and the larger Edmonds community, and as a destination for visitors from throughout the region
General category
COMMERCIAL
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.
All 5 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$6.24M
Value range
$5.62M – $6.86M
±10% around blend
Estimated value / SF
$197 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
50
$5.62M
blend $6.24M
$6.86M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
31,626 SF
Lot area
0.39 ac
Year built
2002
Stories
2
APN
454800102000
Zoning
BD2
Assessed value
$8,867,400
Annual tax
$60,884
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$15.44M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
15.5 mi away · 34,873 SF
16.5 mi away · 28,407 SF
18.1 mi away · 27,315 SF
20.5 mi away · 37,080 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$6.24M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 23 sales
$387
-49%
County 197 sales
$357
-45%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $197/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
Not available
Market rent
Not available
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: replacement-cost inputs are not on file.
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 · 5 sales
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$8.87M
Move the market yield to see immediate price impact.
Value / SF
$280
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%
$559k
$11.17M
$7.98M
$6.21M
$621k
$12.41M
$8.87M
$6.90M
$683k
$13.66M
$9.75M
$7.59M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$10.20M
12.3 mi · Nov 2025 · $305/SF
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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, WAZoning BD2 · permitted uses
BD2 · Edmonds, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
District for retail,office, entertainment and associated businesses supported by nearby residents and the larger Edmonds community, and as a destination for visitors from throughout the region
General category
COMMERCIAL
Building & site characteristics
From public records
Year built
2002
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
0.39 ac
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
BD2
COMMERCIAL
Jurisdiction
Edmonds, WA
Recorded code
BD2
Official district
BD2
Official district profile
What the municipal code says about BD2
Zoning description
District for retail,office, entertainment and associated businesses supported by nearby residents and the larger Edmonds community, and as a destination for visitors from throughout the region
General category
COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for BD2 in Edmonds, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Cited sourceThe exact document the profile quotes
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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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.
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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