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Property profile & analytics
OFF-MARKET
Estimated value
$3,650,000
Industrial properties
15022 35th W Ave Lynnwood, WA 98087-5023
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0891795
Property profile
Verified
Property type
Industrial properties
Use group
CONSTRUCTION/CONTRACTING SERVICES
Year built
1988
Construction
TYPE NOT SPECIFIED
Total area
7,056 SF
Lot
0.92 ac (40,075 SF)
Zoning code
GC
APN
372901001205
UPID
US90-0891795
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
-
Shoreline Electric Electrical Service General Contractor
-
LUXE Lounge Hair Salon Nail Salon
-
pH Science Holdings Inc. Holding Company
-
Espresso Stand Signs (Bike/Boat/Book/etc) Store Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.61M
Blend (final)
Blend
$3.65M
Owner & transaction history
Alderwood Water & Wastewater D · 5 yrs held
Alderwood Water & Wastewater D
since 2020
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
GC · Lynnwood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.7M
+104.4%
Auto repair, garage
$3.4M
+88.4%
Apartment house (5+ units)
$2.9M
+63.1%
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 Lynnwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynnwood 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
$4,100,000
ML approach
$4,180,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,655,000
Change: +104% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,370,000
Change: +88% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,920,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$2,755,000
Change: +54% · Conversion: Difficult
OFFICE BUILDING
$2,415,000
Change: +35% · Conversion: Difficult
Blend value · Realmo final
$3.65M
Range $3.29M – $4.02M · ±10% · vs last sale $3.18M (Nov 6 2020)
Last sale anchor
$3.18M
Nov 6 2020
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
$517 / 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
$1,973
Tax year 2023
Assessed value
$2,557,600
Assessed 2023
Previous assessed
$1,970,000
+29.8% YoY
Effective rate
0.08%
On assessed value
Assessed land
$1,238,000
Assessed improvement
$1,319,600
Land market value
$1,238,000
Improvement market value
$1,319,600
Total market value
$2,557,600
Applied tax rate
2,446.0000
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
Industrial properties
Use group
CONSTRUCTION/CONTRACTING SERVICES
Status
Off-Market
Year built
1988
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Buildings
2
Stories
2
Bathrooms
2
Total area
7,056 SF
Lot
0.92 ac (40,075 SF)
Zoning code
GC
APN
372901001205
UPID
US90-0891795
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
GC · Lynnwood, WA
Zoning GC · permitted uses
GC · Lynnwood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lynnwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$3.7M
AUTO REPAIR, GARAGE
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.4M
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1988
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Bathrooms
2
Lot
0.92 ac
Current owner
From public records · entity-resolved
Alderwood Water & Wastewater D
Individual
Mailing address
3626 156TH ST SW, LYNNWOOD, WA 98087-5021
Ownership since
2020
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
Nov 6, 2020
$3,175,000
Alderwood Water & Wastewater D
Ph Science Real Estate LLC
Warranty Deed
—
Nov 3, 2016
$1,500,000
Ph Science Real Estate LLC
John J Synder
Warranty Deed
$1,275,000 · Umpqua Bank
—
—
Johnny J Synder
—
Deed Of Trust
related
$76,184 · Whidbey Island Bank
—
—
Johnny J Synder
—
Deed Of Trust
related
$677,599 · Mountain Pacific Bank
—
—
Johnny Synder
—
Deed Of Trust
related
$300,000 · City Bank
—
—
Johnny J Synder
—
Deed Of Trust
related
$301,813 · City Bank
—
—
John J Synder
—
Deed Of Trust
related
$525,000 · Whidbey Island 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.
Try Rey
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