Back to Search
Property profile & analytics
FOR LEASE
Warehouses
12521 Evergreen Dr Mukilteo, WA 98275
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-0737004
No photos on file
For Lease
$53,197,452 SF/Yr
12521 Evergreen Dr, Mukilteo, WA 98275
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1982
Construction
TYPE NOT SPECIFIED
Total area
19,500 SF
Lot
1.54 ac (67,082 SF)
Zoning code
LI
APN
441300003400
UPID
US90-0737004
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
-
Industrial Coatings & Sealants Building Supply Industrial Manufacturer
-
Centennial Glass Hardware & Home Improvement Home Decor Store
-
Eagles Nest Foundation Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.06M
CAP Approach
CAP
$3.80M
Comparable Approach
Comparable
$5.93M
Blend (final)
Blend
$4.46M
Owner & transaction history
Mukilteo Barker Real Estate LLC · 4 yrs held
Mukilteo Barker Real Estate LLC
since 2021
Last sale
$4.3M
7 recorded transactions
Zoning & alternative use
LI · Mukilteo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$7.0M
+23.5%
Commercial (general)
$5.9M
+5.0%
Retail stores
$5.7M
+0.8%
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
$4,935,000
ML approach
$5,055,000
CAP Approach
CAP Return
Estimation
6%
$4,110,000
6.5%
$3,795,000
7%
$3,520,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,630,000
Current use
OFFICE BUILDING
$6,955,000
Change: +23% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,910,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$5,675,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$4.46M
Range $4.01M – $4.90M · ±10% · vs last sale $4.25M (Nov 4 2021)
Last sale anchor
$4.25M
Nov 4 2021
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
$228 / 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
$23,295
Tax year 2023
Assessed value
$3,320,000
Assessed 2023
Previous assessed
$2,944,500
+12.8% YoY
Effective rate
0.70%
On assessed value
Assessed land
$1,228,300
Assessed improvement
$2,091,700
Land market value
$1,228,300
Improvement market value
$2,091,700
Total market value
$3,320,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1982
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
1
Total area
19,500 SF
Lot
1.54 ac (67,082 SF)
Zoning code
LI
APN
441300003400
UPID
US90-0737004
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LI · Mukilteo, WA
Zoning LI · permitted uses
LI · Mukilteo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mukilteo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$5.6M
OFFICE BUILDING
Est. value
$7.0M
COMMERCIAL (GENERAL)
Est. value
$5.9M
RETAIL STORES
Est. value
$5.7M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1982
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
1.54 ac
Current owner
From public records · entity-resolved
Mukilteo Barker Real Estate LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1150 NW KERRON ST, WINLOCK, WA 98596-9143
Ownership since
2021
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
Jun 3, 2022
—
Mukilteo Barker Real Estate LLC
—
Deed
related
$2,700,000 · The State Life Insurance Company
Nov 4, 2021
$4,250,000
Mukilteo Barker Real Estate LLC
Caprcorpio III LLC
Warranty Deed
—
Jul 15, 2016
$2,616,000
Capricorpio III LLC
Kthodge LLC
Warranty Deed
$1,950,000 · First Citizens Bank & Trust Co
Aug 31, 2005
$1,725,000
Kihodge LLC
Top Seacrest LLC
Warranty Deed
—
Aug 3, 2005
—
Allen F Hodge
Top Seacrest LLC
Quit Claim Deed
related
—
Oct 2, 1996
$1,150,000
Top Seacrest LLC
Junell,jack S & Lynn M
Grant Deed
$862,500 · Seafirst Bank
Nov 1, 1989
$650,000
Jack S Junell
Unknown
Grant Deed
—
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.
