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Property profile & analytics
OFF-MARKET
Estimated value
$2,140,000
Industrial properties
1625 Walnut St Burlington, WA 98233-3238
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-2172351
Property profile
Verified
Property type
Industrial properties
Use group
CONSTRUCTION/CONTRACTING SERVICES
Year built
2009
Total area
14,868 SF
Lot
0.86 ac (37,462 SF)
APN
8026-000-002-0000
UPID
US90-2172351
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
-
Endurance Climbing (formerly Riverstone) Gym & Fitness Center
-
Fastenal Fulfillment Center Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.13M
CAP Approach
CAP
$1.93M
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$2.14M
Owner & transaction history
1625 S Walnut LLC · 2 yrs held
1625 S Walnut LLC
since 2023
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.4M
+61.3%
Restaurant
$3.1M
+48.0%
Apartment house (5+ units)
$2.7M
+25.5%
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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
$2,200,000
ML approach
$2,130,000
CAP Approach
CAP Return
Estimation
6%
$2,090,000
6.5%
$1,930,000
7%
$1,795,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,115,000
Current use
OFFICE BUILDING
$3,415,000
Change: +61% · Conversion: Difficult
RESTAURANT
$3,130,000
Change: +48% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,655,000
Change: +26% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,945,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$2.14M
Range $1.93M – $2.35M · ±10% · vs last sale $2.45M (Aug 17 2023)
Last sale anchor
$2.45M
Aug 17 2023
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
$144 / 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
$13,644
Tax year 2023
Assessed value
$1,553,300
Assessed 2022
Previous assessed
$1,551,400
+0.1% YoY
Effective rate
0.88%
On assessed value
Assessed land
$401,800
Assessed improvement
$1,151,500
Land market value
$401,800
Improvement market value
$1,151,500
Total market value
$1,553,300
Applied tax rate
905.0000
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
Industrial properties
Use group
CONSTRUCTION/CONTRACTING SERVICES
Status
Off-Market
Year built
2009
Heating
NONE
Stories
1
Total area
14,868 SF
Lot
0.86 ac (37,462 SF)
APN
8026-000-002-0000
UPID
US90-2172351
Jurisdiction
SKAGIT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.1M
OFFICE BUILDING
Est. value
$3.4M
RESTAURANT
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
WAREHOUSE, STORAGE
Est. value
$1.9M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
Heating
NONE
Stories
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
1625 S Walnut LLC
Entity
Mailing address
1301 RIVERSIDE DR, MOUNT VERNON, WA 98273-2483
Ownership since
2023
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
Sep 7, 2023
—
1625 S Walnut LLC
—
Deed
related
$1,500,000 · Savibank
Aug 17, 2023
$2,450,000
1625 S Walnut LLC
Spring Meadows LLC
Warranty Deed
—
—
—
Spring Meadows LLC
—
Deed Of Trust
related
$245,000 · Skagit State Bank
—
—
Spring Meadows LLC
—
Deed Of Trust
related
$250,000 · Peoples Bank & Trust
—
—
Spring Meadows LLC
—
Deed Of Trust
related
$50,000 · Peoples Bank & Trust
—
—
Spring Meadows LLC
—
Deed Of Trust
related
$450,000 · Peoples Bank & Trust
—
—
Spring Meadows LLC
—
Deed Of Trust
related
$1,800,000 · Skagit State Bank
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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