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Property profile & analytics
OFF-MARKET
Estimated value
$2,340,000
Medical Office Space
16006 Ash Way, Lynnwood, WA 98087-6352
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1431522
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Construction
TYPE NOT SPECIFIED
Total area
11,248 SF
Zoning code
62
APN
1090800000400
UPID
US90-1431522
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
-
Meader Orthodontics Dental Office
-
Jennifer Meader DMD, MS, PS Dental Office
-
Alderwood Vision Therapy Center Physician
-
Nancy G. Torgerson, OD Physician
-
Willow F. Thompson, OD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.54M
Comparable Approach
Comparable
$1.80M
Blend (final)
Blend
$2.34M
Owner & transaction history
Newberry Square LP · 1 yrs held
Newberry Square LP
since 2025
5 recorded transactions
Zoning & alternative use
62 · Lynnwood, 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,745,000
6.5%
$2,535,000
7%
$2,355,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,850,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$2.34M
Range $2.11M – $2.57M · ±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
$208 / 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
$31,886
Tax year 2023
Assessed value
$3,896,500
Assessed 2023
Previous assessed
$3,127,000
+24.6% YoY
Effective rate
0.82%
On assessed value
Assessed land
$915,200
Assessed improvement
$2,981,300
Land market value
$915,200
Improvement market value
$2,981,300
Total market value
$3,896,500
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
1
Total area
11,248 SF
Zoning code
62
APN
1090800000400
UPID
US90-1431522
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
62 · Lynnwood, WA
Zoning 62 · permitted uses
62 · 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
OFFICE BUILDING
Est. value
$3.9M
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
2007
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Newberry Square LP
Entity
Mailing address
PO BOX 14790, MILL CREEK, WA 98082-2790
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2025
—
Newberry Square LP
—
Deed
related
$6,800,000 · Jpmorgan Chase Bank NA
Nov 29, 2010
—
Newberry Square LP
—
Deed Of Trust
related
$20,100,000 · Key Bank NA
Mar 30, 2009
—
Square Newberry
—
Deed Of Trust
related
$8,100,000 · Key Bank NA
Oct 3, 2008
—
Square Newberry
—
Deed Of Trust
related
$8,100,000 · Key Bank NA
—
—
Newberry Square LP
—
Deed Of Trust
related
$8,000,000 · Miscellaneous Ins Co
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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