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Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Parking lots & garages
16212 Bothell Everett Hwy Mill Creek, WA 98012-1603
Entity Owned
14-yr Hold
Free & Clear
Property ID
US90-1697140
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1980
Total area
3,742 SF
Lot
12.57 ac (547,549 SF)
Zoning code
CB
APN
689100000100
UPID
US90-1697140
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$985k
Owner & transaction history
Panos Properties LLC · 14 yrs held
Panos Properties LLC
since 2012
7 recorded transactions
Zoning & alternative use
CB · Mill Creek, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
17.16 CB - Community Business 17.17 Repealed 17.18 NB - Neighborhood Business 17.19 EGUV - East Gateway Urban Village 17.20 BP - Business Park 17.21 TC - Town Center 17.22 General Provisions and Standards 17.23 Home Occupations 17.24 Maintenance and Alterations of Structures and Landscaping 17.26 Signs 17.27 Parking Standards and Requirements 17.28 Condition…
Zone name
Community Business
General category
COMMERCIAL
Zone area
114.89 ac
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$800,000
Current use
COMMERCIAL (GENERAL)
$795,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±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
$263 / 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
$123,271
Tax year 2023
Assessed value
$14,723,500
Assessed 2023
Previous assessed
$7,401,700
+98.9% YoY
Effective rate
0.84%
On assessed value
Assessed land
$14,515,600
Assessed improvement
$207,900
Land market value
$14,515,600
Improvement market value
$207,900
Total market value
$14,723,500
Applied tax rate
520.0000
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1980
Heating
OTHER
Stories
1
Bathrooms
1
Total area
3,742 SF
Lot
12.57 ac (547,549 SF)
Zoning code
CB
APN
689100000100
UPID
US90-1697140
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CB · Mill Creek, WAZoning CB · permitted uses
CB · Mill Creek, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
17.16 CB - Community Business 17.17 Repealed 17.18 NB - Neighborhood Business 17.19 EGUV - East Gateway Urban Village 17.20 BP - Business Park 17.21 TC - Town Center 17.22 General Provisions and Standards 17.23 Home Occupations 17.24 Maintenance and Alterations of Structures and Landscaping 17.26 Signs 17.27 Parking Standards and Requirements 17.28 Conditional Uses 17.29 Wireless Communications Facilities 17.30 Variances 17.32 Nonconforming Uses, Structures and Lots 17.34 Design Review 17.38 Amendments and Development Agreements 17.40 Enforcement 17.42 Fees and Expenses 17.44 Security Devices 17.48 Development Impact Mitigation 17.50 Electric Vehicle Infrastructure Mill Creek Municipal Code
Zone name
Community Business
General category
COMMERCIAL
Zone area
114.89 ac
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$800,000
COMMERCIAL (GENERAL)
Est. value
$795,000
PARKING LOT Current
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
1980
Heating
OTHER
Stories
1
Bathrooms
1
Lot
12.57 ac
Current owner
From public records · entity-resolved
Panos Properties LLC
Entity
Free & Clear · 14 yrs held
Mailing address
6850 E GRN LK WAY N STE #201, SEATTLE, WA 98115-5412
Ownership since
2012
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
Mar 27, 2012
—
Panos Properties LLC
—
Deed Of Trust
related
$91,000,000 · Principal Life Insurance Co
Mar 14, 2012
—
Panos Properties LLC
Panos Properties LLC-i
Quit Claim Deed
related
—
Oct 3, 1996
—
Mill Creek City
Panos Properties LLC-i
Quit Claim Deed
related
—
Aug 8, 1996
—
City Of Mill Creek
Panos,steven & Harula
Quit Claim Deed
related
—
Nov 1, 1991
$40,548
Controllers Ms
Unknown
Quit Claim Deed
related
—
Feb 1, 1989
$10,900,000
Ernest 266
Unknown
Grant Deed
—
—
—
Panos Properties LLC
—
Loan Modification
related
$92,798,035 · 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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