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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Retail space
16401 Hwy 99 Lynnwood, WA 98037-3159
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-3351080
Property summary
AI-generated overview
This exceptional commercial property, located at 16401 Highway 99 in Lynnwood, Washington, presents a unique investment opportunity. Situated on a 0-acre lot, this general commercial building boasts unparalleled visibility and accessibility due to its prime location off Highway 99. The property benefits from an impressive daily traffic count exceeding 44,000 vehicles, ensuring significant exposure for any business. This translates to substantial foot traffic and brand visibility, making it ideal for a wide range of commercial uses. Beyond its strategic location and high traffic volume, this property holds significant historical value as a nationally recognized historic building. This adds a distinct character and charm, potentially attracting businesses seeking a unique and memorable location. The asking price is $1,800,000. The square footage is not currently specified. This property's combination of high visibility, historical significance, and convenient location makes it an exceptional investment opportunity for discerning buyers seeking a well-positioned commercial asset in a thriving area. Serious inquiries are encouraged.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1927
Construction
WOOD
Total area
2,840 SF
Lot
0.23 ac (10,019 SF)
Zoning code
L6
APN
372700800205
UPID
US90-3351080
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
-
Keeler's Korner Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$445k
CAP Approach
CAP
$615k
Comparable Approach
Comparable
$613k
Blend (final)
Blend
$555k
Owner & transaction history
Puget Nest LLC · 1 yrs held
Puget Nest LLC
since 2025
7 recorded transactions
Zoning & alternative use
L6 · Lynnwood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$860,000
+7.9%
Warehouse, storage
$820,000
+2.8%
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
$445,000
CAP Approach
CAP Return
Estimation
6%
$665,000
6.5%
$615,000
7%
$570,000
Alternative Use
Use
Estimation
RETAIL STORES
$800,000
Current use
COMMERCIAL (GENERAL)
$860,000
Change: +8% · Conversion: Easy
WAREHOUSE, STORAGE
$820,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$195 / 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
$30,995
Tax year 2023
Assessed value
$576,700
Assessed 2023
Previous assessed
$467,200
+23.4% YoY
Effective rate
5.37%
On assessed value
Assessed land
$436,100
Assessed improvement
$140,600
Land market value
$436,100
Improvement market value
$140,600
Total market value
$576,700
Applied tax rate
452.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1927
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
2
Bathrooms
1
Total area
2,840 SF
Lot
0.23 ac (10,019 SF)
Zoning code
L6
APN
372700800205
UPID
US90-3351080
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
L6 · Lynnwood, WA
Zoning L6 · permitted uses
L6 · 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
RETAIL STORES Current
Est. value
$800,000
COMMERCIAL (GENERAL)
Est. value
$860,000
WAREHOUSE, STORAGE
Est. value
$820,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1927
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Puget Nest LLC
Entity
Mailing address
16401 HWY 99, LYNNWOOD, WA 98037-3159
Mailing matches property
Yes
Owner-occupied
Yes
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2025
—
Puget Nest LLC
Eastside Funding LLC
Quitclaim Deed
related
—
Jun 23, 2025
$390,000
Puget Nest LLC
Alan Jackson
Trust Deed
related
$285,292 · Eastside Funding LLC
Jun 24, 2019
—
Alanj A Jackson
—
Deed
related
$215,074 · Schmidt & Schmidt LLP
Feb 22, 2008
—
Alan Jackson
—
Trustees Deed
related
$85,120 · Interstate Financial Corp
Aug 21, 2006
$150,000
Alan Jackson
Porter,robert K & Joan M
Warranty Deed
—
Feb 28, 2005
—
Robert K Porter
Chinn,jerry
Warranty Deed
$607,236 · Frontier Bank
—
—
Alanj A Jackson
—
Deed Of Trust
related
$215,074 · Schmidt & Schmidt LLP
—
—
Robert K Porter
—
Deed Of Trust
related
—
—
—
Alan Jackson
—
Deed Of Trust
related
$170,000 · Wadot Cap
—
—
Robert K Porter
—
Deed Of Trust
related
$143,500 · Frontier 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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