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Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Medical Office Space
16815 Bothell NE Way Lake Forest Park, WA 98155-5614
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1522963
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1978
Construction
FRAME
Total area
2,813 SF
Lot
0.23 ac (10,193 SF)
Zoning code
NB
APN
102604-9068
UPID
US90-1522963
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$865k
CAP Approach
CAP
$620k
Comparable Approach
Comparable
$702k
Blend (final)
Blend
$865k
Owner & transaction history
Schisling Family LLC · 2 yrs held
Schisling Family LLC
since 2024
Last sale
$864,000
7 recorded transactions
Zoning & alternative use
NB · Lake Forest Park, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
It is the purpose of this chapter to permit the establishment of business facilities for a neighborhood which will adhere to the concept, controls and intent noted in this chapter, The neighborhood business zone shall include only facilities designed to serve the everyday needs of the immediate neighborhood and shall not include features designed to attract…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
3.98 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.4M
+47.2%
Auto repair, garage
$1.2M
+19.7%
Retail stores
$1.1M
+16.6%
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 Lake Forest Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Forest Park 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
$865,000
ML approach
$865,000
CAP Approach
CAP Return
Estimation
6%
$675,000
6.5%
$620,000
7%
$580,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$965,000
Current use
COMMERCIAL (GENERAL)
$1,425,000
Change: +47% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,155,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$1,130,000
Change: +17% · Conversion: Difficult
OFFICE BUILDING
$995,000
Change: +3% · Conversion: Easy
WAREHOUSE, STORAGE
$830,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$865k
Range $779k – $952k · ±10% · vs last sale $864k (May 23 2024)
Last sale anchor
$864k
May 23 2024
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
$308 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$8,968
Tax year 2024
Assessed value
$620,600
Assessed 2023
Previous assessed
$620,600
+0.0% YoY
Effective rate
1.45%
On assessed value
Assessed land
$509,600
Assessed improvement
$111,000
Land market value
$509,600
Improvement market value
$111,000
Total market value
$620,600
Applied tax rate
1,245.0000
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
1978
Construction
FRAME
Heating
HEAT PUMP
Stories
2
Total area
2,813 SF
Lot
0.23 ac (10,193 SF)
Zoning code
NB
APN
102604-9068
UPID
US90-1522963
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NB · Lake Forest Park, WAZoning NB · permitted uses
NB · Lake Forest Park, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
It is the purpose of this chapter to permit the establishment of business facilities for a neighborhood which will adhere to the concept, controls and intent noted in this chapter, The neighborhood business zone shall include only facilities designed to serve the everyday needs of the immediate neighborhood and shall not include features designed to attract excessive traffic from beyond that neighborhood
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
3.98 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$965,000
COMMERCIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$995,000
WAREHOUSE, STORAGE
Est. value
$830,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
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
1978
Construction
FRAME
Heating
HEAT PUMP
Stories
2
Lot
0.23 ac
Current owner
From public records · entity-resolved
Schisling Family LLC
Entity
Mailing address
19718 58TH AVE NE, KENMORE, WA 98028-3163
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2024
—
Schisling Family LLC
Gregory B Combs
Quit Claim Deed
related
$31,825 · Navy FCU
Mar 1, 2022
$864,000
Schisling Family LLC
Wong Combs LLC
Warranty Deed
$689,000 · Bank Of America NA
Apr 20, 2005
$100
Gregory B Combs
Pickering,chris H
Quit Claim Deed
related
—
Oct 8, 2004
—
Wong-combs LLC
Bender,john F & Patricia
Grant Deed
related
—
Nov 30, 2000
$695,000
Wong-gombs LLC
Bender,john F & Patricia V
Grant Deed
$400,000 · Individual
—
—
Wong-combs LLC
—
Deed Of Trust
related
$459,550 · First Horizon Bank
—
—
Wong-combs LLC
—
Deed Of Trust
related
—
—
—
Wong-combs LLC
—
Deed Of Trust
related
$400,000 · Bank Of America
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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