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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Retail properties & Spaces
15109 35th SE Ave Mill Creek, WA 98012-4328
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1159720
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2009
Construction
WOOD
Total area
504 SF
Lot
0.4 ac (17,424 SF)
Zoning code
N5
APN
399900100406
UPID
US90-1159720
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$655k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$655k
Owner & transaction history
15109 LLC · 2 yrs held
15109 LLC
since 2024
Last sale
$655,000
7 recorded transactions
Zoning & alternative use
N5 · Mill Creek, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$980,000
+567.9%
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 Mill Creek submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mill Creek 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
$655,000
ML approach
$655,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$980,000
Change: +568% · Conversion: Easy
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $655k (Apr 17 2024)
Last sale anchor
$655k
Apr 17 2024
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
$1,300 / 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
$4,345
Tax year 2023
Assessed value
$458,200
Assessed 2023
Previous assessed
$435,900
+5.1% YoY
Effective rate
0.95%
On assessed value
Assessed land
$318,000
Assessed improvement
$140,200
Land market value
$318,000
Improvement market value
$140,200
Total market value
$458,200
Applied tax rate
526.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2009
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
1
Total area
504 SF
Lot
0.4 ac (17,424 SF)
Zoning code
N5
APN
399900100406
UPID
US90-1159720
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
N5 · Mill Creek, WA
Zoning N5 · permitted uses
N5 · Mill Creek, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mill Creek. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$980,000
COMMERCIAL (GENERAL)
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
2009
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
15109 LLC
Entity
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2024
$655,000
15109 LLC
Buffalo Espresso II LLC
Warranty Deed
$600,000 · Coastal Community Bank
Oct 17, 2018
—
Buffalo Espresso II LLC
—
Deed
related
$42,500 · Coastal Cmnty Bk
Nov 26, 2007
$352,000
Buffalo Espresso II LLC
Echelbarger,michael D & Kathleen A
Warranty Deed
$255,000 · Cascade Bank
Feb 22, 1999
—
John J Martens
Martens Construction INC
Quit Claim Deed
related
$272,200 · Phoenix Savings Bank
Nov 12, 1997
$82,500
Martens Construction INC
Echelbarger,michael D & Kathleen
Grant Deed
$84,000 · Phoenix Builders Svcs INC
—
—
Buffalo Square LLC
—
Deed Of Trust
related
—
—
—
Buffalo Espresso II LLC
—
Deed Of Trust
related
$440,000 · Cascade Bank
—
—
Buffalo Espresso II LLC
—
Deed Of Trust
related
$800,000 · Cascade Bank
—
—
Buffalo Espresso II LLC
—
Deed Of Trust
related
$367,000 · Ameritrust Cdc
—
—
Buffalo Espresso II LLC
—
Deed Of Trust
related
$42,500 · Coastal Cmnty Bk
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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