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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16626 6th W Ave Lynnwood, WA 98037-8834

    • Apartment buildings
    • 85,854 SF
    • 8.32 lot acres
    OFF-MARKET
    Last Sale
    Sep 29, 2021
    $52,845,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0601789
    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

    • Martha Lake Apartments / Apartment Complex

    Property Details for 16626 6th W Ave

    Year built
    1991
    Construction
    WOOD
    Lot size
    8.32 lot acres
    Property size
    85,854 SF
    Zone code
    CB
    Property type
    Apartment buildings
    APN
    508900001300
    APU
    508900001300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $58,290,000
      Market price range: $25.7M - $60.6M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $35,505,000
      Current use
      RESTAURANT
      $44,495,000
      Change: +25% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $41,020,000
      Change: +16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.243
    Latitude
    47.8472
    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
    2023
    $406,708
    $12,765,100
    $38,114,200
    $50,879,300
    -
    $12,765,100
    $38,114,200
    $50,879,300

    Comparable in this City

    • Value Estimation by Request

      3101 184th SW St

      APARTMENT HOUSE (100+ UNITS)
      3101 184th SW St, Lynnwood, WA 98037-4846
      View Details
    • Value Estimation
      $28,910,000
      41,888 SF

      4800 168th SW St

      APARTMENT HOUSE (100+ UNITS) • 41,888 SF
      4800 168th SW St, Lynnwood, WA 98037-6814
      View Details
    • Value Estimation
      $5,040,000
      40,386 SF

      18225 52nd W Ave

      APARTMENT HOUSE (100+ UNITS) • 40,386 SF
      18225 52nd W Ave, Lynnwood, WA 98037-4432
      View Details
    • Value Estimation
      $32,855,000
      243,504 SF

      16605 6th W Ave

      APARTMENT HOUSE (100+ UNITS) • 243,504 SF
      16605 6th W Ave, Lynnwood, WA 98037-9372
      View Details
    • Value Estimation
      $39,725,000
      87,842 SF

      16720 6th W Ave

      APARTMENT HOUSE (100+ UNITS) • 87,842 SF
      16720 6th W Ave, Lynnwood, WA 98037-8196
      View Details
    • Value Estimation
      $10,385,000
      45,360 SF

      18407 36th W Ave

      APARTMENT HOUSE (100+ UNITS) • 45,360 SF
      18407 36th W Ave, Lynnwood, WA 98037-7614
      View Details

    Similar Nearby for Sale

    • $265,000

      Updated Condo Near Transit

      Updated condo with granite countertops, close to transit and amenities.
      4807 180Th St SW, Lynnwood, WA 98037
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    • $349,000

      Inviting Condo in Central Lynnwood

      Spacious 1,025 sq ft condo near transit and shopping.
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    • $2,500,000

      Lynnwood Mobile Home Park Opportunity

      Well-maintained mobile home park with income potential in Lynnwood, WA.
      5717 186Th Pl SW, Lynnwood, WA 98037
      View Details
    • $2,500,000
      64,904 SF

      Lynnwood Mobile Home Park Opportunity

      Well-maintained mobile home park with income potential in Lynnwood, WA.
      5717 186Th Pl SW, Lynnwood, WA 98037
      View Details
    • $219,900
      590 SF

      Ground-Level Unit with Garden Patio

      Ground-level unit with backyard patio, garden, and recent upgrades.
      4715 176Th St SW, Lynnwood, WA 98037
      View Details
    • $3,000,000
      6,575 SF

      Lynnwood Commercial Property For Sale

      Commercial property in Lynnwood with recent updates and ample space.
      4305 178Th St, Lynnwood, WA 98037
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      1,865 SF

      Lynnwood Office Space Available

      Office space available for lease in Lynnwood, Washington.
      3400 188Th St SW, Lynnwood, WA 98037
      View Details
    • $23 SF/Yr
      2,753 SF

      Lynnwood Office Space Available

      Office space available for lease in Lynnwood, Washington.
      3500 188Th St SW, Lynnwood, WA 98037
      View Details
    • $21 SF/Yr
      960 SF

      Light Industrial Space Near Highway

      960 SF light-industrial space with highway access.
      16513-16521 Highway 99 S, Lynnwood, WA 98037
      View Details
    • $25 SF/Yr
      1,435 SF

      Highway 99 Office Space Available

      Move-in ready office space with high visibility and access.
      17602 Highway 99, Lynnwood, WA 98037
      View Details
    • $31 SF/Yr
      2,506 SF

      Retail Space in Lynnwood

      Retail space available for lease in Lynnwood, Washington.
      18505 Alderwood Mall Pkwy, Lynnwood, WA 98037
      View Details
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    16626 6th W Ave
    Lynnwood, WA 98037-8834
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    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
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