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Property profile & analytics
OFF-MARKET
Estimated value
$16,610,000
Medical Office Space
14841 179th SE Ave Monroe, WA 98272-1127
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-1781278
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Construction
STEEL FRAME
Total area
49,401 SF
APN
485400000103
UPID
US90-1781278
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
-
Curtis Kristen E Physician
-
EvergreenHealth Monroe Physical & Occupational Therapy Medical Clinic
-
Joel Weber, MD Physician
-
Raksha Nepal, MD Pediatrician Physician
-
Teresa L Jackson, MD Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.13M
Comparable Approach
Comparable
$14.91M
Blend (final)
Blend
$16.61M
Owner & transaction history
Draco3 Monroe 14841 LLC · 2 yrs held
Draco3 Monroe 14841 LLC
since 2023
Last sale
$21.0M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$25.6M
+32.7%
Auto repair, garage
$21.4M
+11.1%
Apartment house (5+ units)
$20.4M
+5.9%
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 Monroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monroe 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
$21,985,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$12,055,000
6.5%
$11,130,000
7%
$10,335,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$19,290,000
Current use
RESTAURANT
$25,600,000
Change: +33% · Conversion: Difficult
AUTO REPAIR, GARAGE
$21,435,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$20,430,000
Change: +6% · Conversion: Moderate
OFFICE BUILDING
$17,620,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$16.61M
Range $14.95M – $18.27M · ±10% · vs last sale $21.00M (Aug 9 2023)
Last sale anchor
$21.00M
Aug 9 2023
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
$336 / 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
Assessed value
$4,132,000
Assessed 2023
Previous assessed
$3,756,000
+10.0% YoY
Assessed improvement
$4,132,000
Improvement market value
$4,132,000
Total market value
$4,132,000
Applied tax rate
530.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2005
Construction
STEEL FRAME
Heating
YES
Cooling
NONE
Stories
3
Total area
49,401 SF
APN
485400000103
UPID
US90-1781278
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
MEDICAL BUILDING Current
Est. value
$19.3M
RESTAURANT
Est. value
$25.6M
AUTO REPAIR, GARAGE
Est. value
$21.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$20.4M
OFFICE BUILDING
Est. value
$17.6M
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2005
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
3
Current owner
From public records · entity-resolved
Draco3 Monroe 14841 LLC
Entity
Free & Clear · 2 yrs held
Mailing address
CHICAGO, IL 60607
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 9, 2023
$21,000,000
Draco3 Monroe 14841 LLC
Hsre Sky River I LLC
Bargain And Sale Deed
—
Aug 8, 2023
—
Hsre Sky River I LLC
179th Mcducal Office Building LLC
Special Warranty Deed
—
Nov 19, 2015
$18,500,000
Harrison Street Real Estate Ll
179th Medical Office Building
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.
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