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Property profile & analytics
OFF-MARKET
Estimated value
$16,665,000
Hotels
131 128th SW St, Everett, WA 98204-6310
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0755726
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2004
Construction
WOOD
Total area
54,100 SF
Lot
1.83 ac (79,715 SF)
Zoning code
SK
APN
28042500405900
UPID
US90-0755726
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
-
Holiday Inn Express & Suites Seattle-Everett, an IHG Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.74M
Blend (final)
Blend
$16.67M
Owner & transaction history
Nitsi LLC · 3 yrs held
Nitsi LLC
since 2022
Last sale
$16.2M
7 recorded transactions
Zoning & alternative use
SK · Everett, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$27.3M
+57.7%
Restaurant
$25.5M
+47.4%
Medical building
$20.2M
+16.6%
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 Everett submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Everett 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
$16,615,000
ML approach
$10,460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$17,295,000
Current use
APARTMENT HOUSE (5+ UNITS)
$27,275,000
Change: +58% · Conversion: Difficult
RESTAURANT
$25,500,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$20,160,000
Change: +17% · Conversion: Difficult
AUTO REPAIR, GARAGE
$19,035,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$18,275,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$17,560,000
Change: +2% · Conversion: Difficult
WAREHOUSE, STORAGE
$16,715,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$16.67M
Range $15.00M – $18.33M · ±10% · vs last sale $16.16M (Nov 15 2022)
Last sale anchor
$16.16M
Nov 15 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
$308 / 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
$101,175
Tax year 2023
Assessed value
$12,246,700
Assessed 2023
Previous assessed
$10,600,000
+15.5% YoY
Effective rate
0.83%
On assessed value
Assessed land
$1,923,200
Assessed improvement
$10,323,500
Land market value
$1,923,200
Improvement market value
$10,323,500
Total market value
$12,246,700
Applied tax rate
2,310.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
2004
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
3
Units
100
Rooms
100
Total area
54,100 SF
Lot
1.83 ac (79,715 SF)
Zoning code
SK
APN
28042500405900
UPID
US90-0755726
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SK · Everett, WA
Zoning SK · permitted uses
SK · Everett, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Everett. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$17.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$27.3M
RESTAURANT
Est. value
$25.5M
MEDICAL BUILDING
Est. value
$20.2M
AUTO REPAIR, GARAGE
Est. value
$19.0M
OFFICE BUILDING
Est. value
$18.3M
RETAIL STORES
Est. value
$17.6M
WAREHOUSE, STORAGE
Est. value
$16.7M
HOTEL/MOTEL Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
2004
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Units
100
Rooms
100
Lot
1.83 ac
Current owner
From public records · entity-resolved
Nitsi LLC
Entity
Mailing address
18221 NE 121ST ST, REDMOND, WA 98052
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
21 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2022
—
Nitsi LLC
—
Deed
related
$4,772,000 · Evergreen Business Capital
Nov 15, 2022
$16,155,965
Nitsi LLC
Ekob INC
Warranty Deed
$8,628,000 · Poppy Bank
Dec 28, 2016
—
Ekob INC
—
Deed
related
$9,000,000 · Bank Of Hope
Oct 9, 2012
$9,500,000
Ekob INC
South Everett Hie LLC
Warranty Deed
$5,150,000 · Bbu Bank
Jun 26, 2006
—
South Everett Hie LLC
Sedgewick Plaza Center LLC
Quit Claim Deed
related
—
Nov 26, 2003
—
Sedgewick Plaza Center LLC
—
Trustees Deed
related
$4,310,000 · Bank Of The Northwest
Nov 4, 2003
—
Burklund Mitzel LLC
Mitzel,dan R & Patricia R
Quit Claim Deed
related
—
Oct 13, 2003
—
Sedgewick Plaza Center LLC
Whitfield,oliver J & Carol A
Grant Deed
related
—
Sep 5, 2003
$564,326
Sedgewick Plaza Center LLC
Whitfield,oliver J & Carol A
Grant Deed
—
Aug 27, 2003
—
Oliver J Whitfield
Whitfeild Mitzel LLC
Quit Claim Deed
related
—
Dec 27, 2002
—
Whitfield Mitzel LLC
W A M Burlingtoin Joint Ventur
Quit Claim Deed
related
—
Jun 5, 2000
$834,993
Burlington Joint Venture Wam
Progressive Holdings INC
Grant Deed
$632,000 · Seller
—
—
Ekob INC
—
Deed Of Trust
related
$9,000,000 · Bank Of Hope
—
—
Sedgewick Plaza Center LLC
—
Deed Of Trust
related
$700,000 · Bank Of The Pacific
—
—
Whitefield Mitzel LLC
—
Deed Of Trust
related
$100,000 · Dujardin Development Co
—
—
A M Burington Jint Ven W
—
Deed Of Trust
related
$618,750 · Horizon Bank
—
—
Ekob INC
—
Deed Of Trust
related
$1,000,000 · Bbcn Bk-washington
—
—
South Everett Hie LLC
—
Deed Of Trust
related
$5,700,000 · Artesia Mortgage Capital Corp
—
—
Ekob INC
—
Deed Of Trust
related
$5,240,000 · Bbcn Bk
—
—
Ekob INC
—
Deed Of Trust
related
$3,178,000 · Ameritrust Cdc
—
—
Ekob INC
—
Deed Of Trust
related
$7,700,000 · Bbu 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.
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