New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,640,000
Office buildings
130 2nd S Ave Edmonds, WA 98020-3512
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-2367657
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1960
Construction
WOOD
Total area
9,287 SF
Lot
0.25 ac (10,890 SF)
APN
454800200200
UPID
US90-2367657
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
-
Cascadia Seafoods LLC Big Box & Wholesale Store
-
Michael Nouwens Structural Consultants Structural Engineer
-
United States Postal Service Post Office Logistics Service
-
Resource Net Corp Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Forte Estate Solutions Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.72M
Comparable Approach
Comparable
$1.98M
Blend (final)
Blend
$2.64M
Owner & transaction history
Jim Pattison Developmetns U S INC · 2 yrs held
Jim Pattison Developmetns U S INC
since 2023
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.0M
+12.1%
Apartment house (5+ units)
$3.8M
+6.8%
Medical building
$3.6M
+0.9%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,940,000
6.5%
$2,715,000
7%
$2,520,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,595,000
Current use
AUTO REPAIR, GARAGE
$4,030,000
Change: +12% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,840,000
Change: +7% · Conversion: Easy
MEDICAL BUILDING
$3,625,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$2.64M
Range $2.38M – $2.90M · ±10%
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
$284 / 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
$39,549
Tax year 2023
Assessed value
$5,706,200
Assessed 2023
Effective rate
0.69%
On assessed value
Assessed land
$713,800
Assessed improvement
$4,992,400
Land market value
$713,800
Improvement market value
$4,992,400
Total market value
$5,706,200
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
Off-Market
Year built
1960
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
2
Stories
1
Total area
9,287 SF
Lot
0.25 ac (10,890 SF)
APN
454800200200
UPID
US90-2367657
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$4.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.6M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL 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
1960
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
0.25 ac
Current owner
From public records · entity-resolved
Jim Pattison Developmetns U S INC
Entity
Mailing address
200-879 MARINE DR STE STE STE N VANCOUVER BC
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2023
—
Jim Pattison Developmetns U S INC
—
Deed
related
$5,400,000 · Wells Fargo Bank NA
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?”
You own 130 2nd S Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
