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    Property profile & analytics

    1317 228th SE St Bothell, WA 98021-8400

    • Retail space
    • 6,015 SF
    • 0.67 lot acres
    OFF-MARKET
    Last Sale
    Feb 21, 2025
    Value Estimations
    $835,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1056412
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Taco Time NW / Restaurant
    • What the Pho - Canyon Park / Restaurant
    • DoreM AD / Gym & Fitness Center

    Property Details for 1317 228th SE St

    Year built
    1980
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.67 lot acres
    Property size
    6,015 SF
    Zone code
    RACOPCB
    Property type
    Retail space
    APN
    715000000500
    APU
    715000000500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bothell
    County
    Snohomish
    State
    Washington
    Longitude
    -122.215
    Latitude
    47.7917
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $17,576
    $1,110,800
    $934,200
    $2,045,000
    -
    $1,110,800
    $934,200
    $2,045,000

    Comparable in this City

    • Value Estimation
      $3,160,000
      26,191 SF

      2020 Maltby Rd

      RETAIL STORES (PERSONAL SERVICES) • 26,191 SF
      2020 Maltby Rd, Bothell, WA 98021-8669
      View Details
    • Value Estimation
      $1,105,000
      3,964 SF

      22904 Bothell Everett Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,964 SF
      22904 Bothell Everett Hwy, Bothell, WA 98021-9347
      View Details
    • Value Estimation
      $1,660,000
      9,266 SF

      22614 Bothell Everett Hwy

      RETAIL STORES (PERSONAL SERVICES) • 9,266 SF
      22614 Bothell Everett Hwy, Bothell, WA 98021-8456
      View Details
    • Value Estimation
      $2,435,000
      11,797 SF

      22832 Bothell Everett Hwy

      RETAIL STORES (PERSONAL SERVICES) • 11,797 SF
      22832 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • Value Estimation
      $1,360,000
      9,844 SF

      24118 Bothell Everett Hwy

      RETAIL STORES (PERSONAL SERVICES) • 9,844 SF
      24118 Bothell Everett Hwy, Bothell, WA 98021-9379
      View Details
    • Value Estimation by Request
      876 SF

      Bothell, WA 98021

      RETAIL STORES (PERSONAL SERVICES) • 876 SF
      Bothell, WA 98021
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Shovel-Ready Medical Building Development Site

      Permitted medical development site in desirable Canyon Park location.
      710 228Th St SE, Bothell, WA 98021
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      Shovel-Ready Medical Development Site

      Permitted medical development site in a high-traffic Bothell location.
      710 228Th St SE, Bothell, WA 98021
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    • $150,000

      Established Bothell Dry Cleaner

      Thriving Business, Turnkey Operation
      2020 Maltby Rd, Bothell, WA 98021
      View Details
    • $3,600,000
      7,913 SF

      Bothell Office and Warehouse Property

      Stand-alone office with warehouse and fenced yard in Bothell.
      810 240Th St SE, Bothell, WA 98021
      View Details
    • Contact for pricing

      Development Site in Canyon Park

      Permitted development site in Bothell's desirable Canyon Park location.
      22811 7Th Ave SE, Bothell, WA 98021
      View Details
    • Contact for pricing
      38,411 SF

      Bothell Warehouse Space Available

      38,411 SF warehouse space for rent in Bothell, WA.
      21520 30Th Dr Southeast, Bothell, WA 98021
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    Similar Nearby for Lease

    • Contact for pricing
      3,500 SF

      Retail Pad Site Available

      Pad site available for up to 3,500 SF building.
      24134 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • Contact for pricing
      3,749 SF

      Bothell Retail Space For Rent

      Retail spaces available for lease in Bothell, Washington.
      24008-24131 Bothell Everett Hwy SE, Bothell, WA 98021
      View Details
    • Contact for pricing
      119,361 SF

      Bothell Retail Space Available

      Prime Bothell storefront, multiple units.
      22833 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • Contact for pricing
      2,619 SF

      Retail Space in Bothell, WA

      Retail space available for lease in Bothell, Washington.
      22736 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • Contact for pricing
      90,899 SF

      Lakeside Shopping Center Opportunity

      Prime Bothell retail space, high traffic location.
      24040 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • $1.00 SF/Yr
      10,000 SF

      Bothell Yard Space For Rent

      10,000 SF yard space in the heart of Bothell.
      905 240Th St SE, Bothell, WA 98021
      View Details
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    1317 228th SE St
    Bothell, WA 98021-8400
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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