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Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Commercial real estate
15224 Main St Ste 101 Mill Creek, WA 98012-7316
Individually Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1699451
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
2004
Construction
TYPE NOT SPECIFIED
Total area
8,657 SF
Lot
1.06 ac (46,174 SF)
Zoning code
PCB
APN
1008600010100
UPID
US90-1699451
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
by Request
CAP Approach
CAP
$1.50M
Comparable Approach
Comparable
$1.58M
Blend (final)
Blend
$1.19M
Owner & transaction history
Justin K Mccormick · 20 yrs held
Justin K Mccormick
since 2006
6 recorded transactions
Zoning & alternative use
PCB · Mill Creek, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,625,000
6.5%
$1,500,000
7%
$1,395,000
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±10%
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
$137 / 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
$19,465
Tax year 2023
Assessed value
$2,305,300
Assessed 2023
Previous assessed
$2,450,100
-5.9% YoY
Effective rate
0.84%
On assessed value
Assessed land
$456,700
Assessed improvement
$1,848,600
Land market value
$456,700
Improvement market value
$1,848,600
Total market value
$2,305,300
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
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
Off-Market
Year built
2004
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
1
Total area
8,657 SF
Lot
1.06 ac (46,174 SF)
Zoning code
PCB
APN
1008600010100
UPID
US90-1699451
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PCB · Mill Creek, WA
Zoning PCB · permitted uses
PCB · 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.
Building & site characteristics
From public records
Year built
2004
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
1.06 ac
Current owner
From public records · entity-resolved
Justin K Mccormick
Individual
Mailing address
2010 156TH AVE NE STE #100, BELLEVUE, WA 98007-3826
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2012
—
Jacobsen Dev LLC
—
Deed Of Trust
related
$1,470,998 · Coastal Community Bank
Feb 15, 2006
$692,400
Justin K Mccormick
Jacobsen Dev LLC
Warranty Deed
$657,500 · Silver State Bank
Feb 15, 2006
—
Justin K Mccormick
Mccormick,erika H
Quit Claim Deed
related
—
—
—
Jacobsen Dev LLC
—
Deed Of Trust
related
$999,995 · Boeing Emps Cu
—
—
Jacobsen Dev LLC
—
Deed Of Trust
related
$2,147,058 · Frontier Bank
—
—
Jacobsen Dev LLC
—
Deed Of Trust
related
$500,000 · Csv Partners LLC
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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