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Property profile & analytics
OFF-MARKET
Estimated value
$4,035,000
Industrial properties
12406 Mukilteo Speedway Mukilteo, WA 98275-5716
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-1417020
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1986
Construction
WOOD
Total area
7,800 SF
Lot
1.06 ac (46,174 SF)
Zoning code
LI
APN
441200001300
UPID
US90-1417020
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
-
H&E Equipment Services (Bike/Boat/Book/etc) Store Rental Equipment Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.04M
Owner & transaction history
Mjm Speedway LLC · 4 yrs held
Mjm Speedway LLC
since 2022
Last sale
$4.0M
3 recorded transactions
Zoning & alternative use
LI · Mukilteo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this district LI is to promote Light Industrial uses.
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
258.24 ac
Source
Realmo
Top alternative use upside
Restaurant
$4.0M
+104.4%
Auto repair, garage
$3.4M
+71.1%
Apartment house (5+ units)
$3.2M
+63.1%
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
$3,995,000
ML approach
$4,095,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$4,040,000
Change: +104% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,385,000
Change: +71% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,225,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$3,045,000
Change: +54% · Conversion: Difficult
OFFICE BUILDING
$2,780,000
Change: +41% · Conversion: Difficult
Blend value · Realmo final
$4.04M
Range $3.63M – $4.44M · ±10% · vs last sale $4.03M (May 12 2022)
Last sale anchor
$4.03M
May 12 2022
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
$517 / 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
$9,142
Tax year 2023
Assessed value
$1,302,000
Assessed 2023
Previous assessed
$1,062,400
+22.6% YoY
Effective rate
0.70%
On assessed value
Assessed land
$838,800
Assessed improvement
$463,200
Land market value
$838,800
Improvement market value
$463,200
Total market value
$1,302,000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
2
Stories
2
Total area
7,800 SF
Lot
1.06 ac (46,174 SF)
Zoning code
LI
APN
441200001300
UPID
US90-1417020
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LI · Mukilteo, WAZoning LI · permitted uses
LI · Mukilteo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this district LI is to promote Light Industrial uses.
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
258.24 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$3.0M
OFFICE BUILDING
Est. value
$2.8M
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
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
1986
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Lot
1.06 ac
Current owner
From public records · entity-resolved
Mjm Speedway LLC
Entity
Free & Clear · 4 yrs held
Mailing address
500 108TH AVE NE STE #2400, BELLEVUE, WA 98004-5553
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2022
$4,025,000
Mjm Speedway LLC
Michael David Pickering
Bargain And Sale Deed
—
Feb 12, 2020
—
Phillip A Pickering
Janna R Pickering
Quit Claim Deed
related
—
—
—
Phillip A Pickering
—
Deed Of Trust
related
$550,000 · Cascade Bank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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