Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15500 Bothell NE Way Lake Forest Park, WA 98155-6748

    • Investment properties
    • 1,884 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Sep 11, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1454732
    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

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 15500 Bothell NE Way

    Year built
    1952
    Construction
    WOOD
    Lot size
    0.13 lot acres
    Property size
    1,884 SF
    Zone code
    RM 900
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    674470-0123
    APU
    6744700123

    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
    Lake Forest Park
    County
    King
    State
    Washington
    Longitude
    -122.288
    Latitude
    47.7412
    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
    2022
    $5,391
    $340,200
    $142,800
    $483,000
    -
    $340,200
    $142,800
    $483,000

    Comparable in this City

    • Value Estimation
      $540,000
      4,145 SF

      1602 179th St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,145 SF
      1602 179th St, Shoreline, WA 98155-3973
      View Details
    • Value Estimation by Request
      2,800 SF

      15550 27th NE Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,800 SF
      15550 27th NE Ave, Shoreline, WA 98155-6439
      View Details
    • Value Estimation
      $695,000
      4,213 SF

      18512 Ballinger NE Way

      OFFICE/RESIDENTIAL (MIXED USE) • 4,213 SF
      18512 Ballinger NE Way, Lake Forest Park, WA 98155-2556
      View Details
    • Value Estimation by Request
      1,200 SF

      17721 15th NE Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,200 SF
      17721 15th NE Ave, Shoreline, WA 98155-3803
      View Details
    • Value Estimation by Request
      900 SF

      19042 15th NE Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 900 SF
      19042 15th NE Ave, Shoreline, WA 98155-2354
      View Details
    • Value Estimation
      $815,000
      1,048 SF

      14708 15th NE Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,048 SF
      14708 15th NE Ave, Shoreline, WA 98155-7168
      View Details

    Similar Nearby for Sale

    • $1,100,000

      Shoreline Mixed-Use Land Parcel

      Prime Shoreline location, development potential.
      344 180Th St, Shoreline, WA 98155
      View Details
    • Contact for pricing

      Development Land Near Light Rail

      7,440 SF parcel near light rail station.
      14522 6Th Ave NE, Shoreline, WA 98155
      View Details
    • Contact for pricing
      24,020 SF

      Shoreline Redevelopment Opportunity

      2.59-acre multifamily site, high NOI.
      16325 5Th Ave, Shoreline, WA 98155
      View Details
    • $3,815,000
      24,616 SF

      Shoreline Multifamily Development Opportunity

      Prime land in Shoreline, WA, zoned for multifamily development.
      18054 10Th Ave Northeast, Shoreline, WA 98155
      View Details
    • $3,200,000
      6,308 SF

      Automotive Center on 15th Ave NE

      6,308 SF automotive center with three suites for sale.
      14711 15Th Ave NE, Shoreline, WA 98155
      View Details

    Similar Nearby for Lease

    • $2,505 /Mo
      791 SF

      High Visibility Corner Retail Space

      Retail space in a mixed-use development with outdoor patio.
      132 145Th St, Shoreline, WA 98155
      View Details
    • $4,354 /Mo
      1,866 SF

      High Visibility Corner Retail Space

      Retail space in Shoreline's developing corridor with parking.
      132 145Th St, Shoreline, WA 98155
      View Details
    • $12,900 /Mo
      535 SF

      Shoreline Office Space For Lease

      Ground floor office, 535 sq ft, parking included.
      19944 Ballinger Way, Shoreline, WA 98155
      View Details
    • $36 SF/Yr
      9,009 SF

      Alta City North Retail Spaces

      Shoreline Retail: New Construction, High Growth
      17732 15Th Ave, Shoreline, WA 98155
      View Details
    • $2,860 /Mo
      1,560 SF

      Ballinger Park Office Space Available

      Office space with reception, conference room, and private offices.
      19944 Ballinger Way NE, Shoreline, WA 98155
      View Details
    • $22 SF/Yr
      1,560 SF

      Office Space at Ballinger Park

      Office space with reception, conference room, and private offices.
      19944 Ballinger Way NE, Shoreline, WA 98155
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15500 Bothell NE Way
    Lake Forest Park, WA 98155-6748
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!