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

    16815 Bothell NE Way Lake Forest Park, WA 98155-5614

    • Medical offices
    • 2,813 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    May 23, 2024
    $864,000
    Value Estimations
    $865,000
    Show details
    Cap Rate Potential
    4.7%
    Medical offices
    Location Intelligence
    Property ID
    US90-1522963
    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

    • Lake Forest Park Animal Hospital / Veterinarian

    Property Details for 16815 Bothell NE Way

    Year built
    1978
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Property size
    2,813 SF
    Zone code
    NB
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    102604-9068
    APU
    1026049068

    Value 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

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $701,000
      Market price range: $506k - $1.31M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Forest Park
    County
    King
    State
    Washington
    Longitude
    -122.282
    Latitude
    47.7513
    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
    2024
    $8,968
    $509,600
    $111,000
    $620,600
    -
    $509,600
    $111,000
    $620,600

    Comparable in this City

    • Value Estimation
      $665,000
      4,601 SF

      20310 19th NE Ave

      MEDICAL BUILDING • 4,601 SF
      20310 19th NE Ave, Shoreline, WA 98155-1261
      View Details
    • Value Estimation by Request
      2,070 SF

      20056 19th NE Ave

      MEDICAL BUILDING • 2,070 SF
      20056 19th NE Ave, Shoreline, WA 98155-1211
      View Details
    • Value Estimation
      $1,925,000
      12,560 SF

      1555 205th St

      MEDICAL BUILDING • 12,560 SF
      1555 205th St, Seattle, WA 98155
      View Details
    • Value Estimation
      $2,610,000
      15,265 SF

      19930 Ballinger NE Way

      MEDICAL BUILDING • 15,265 SF
      19930 Ballinger NE Way, Shoreline, WA 98155-1223
      View Details
    • Value Estimation
      $600,000
      4,872 SF

      18021 15th NE Ave

      MEDICAL BUILDING • 4,872 SF
      18021 15th NE Ave, Shoreline, WA 98155-3806
      View Details
    • Value Estimation
      $1,810,000
      4,250 SF

      17500 12th NE Ave

      DENTAL BUILDING • 4,250 SF
      17500 12th NE Ave, Shoreline, WA 98155-3769
      View Details

    Similar Nearby for Sale

    • $2,200,000

      Shoreline Land: Rail Station Opportunity

      Prime 13,569 SF lot, near light rail.
      18522 8Th Ave, Shoreline, WA 98155
      View Details
    • $6,825,000
      0.99 Acres

      Shoreline Commercial Land - $6.8M

      Prime MUR-70 zoned land, ideal for high-density development.
      139 147Th St, Shoreline, WA 98155
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    • $1,775,000
      6,446 SF

      Shoreline Apartments Near Light Rail

      Apartment building near Seattle with modernized units and light rail access.
      1728 145Th St, Shoreline, WA 98155
      View Details
    • $11,500,000
      84,385 SF

      Development Site Near Light Rail

      84,385 SF development site near Shoreline light rail station.
      18318 3Rd Ave NE Shoreline, Shoreline, WA 98155
      View Details
    • $3,815,000
      24,616 SF

      Shoreline Multifamily Development Opportunity

      Prime land in Shoreline, WA, zoned for multifamily development.
      18054 10Th Ave Northeast, Shoreline, WA 98155
      View Details
    • $850,000

      Ready-to-Build Lot in Shoreline

      Developed lot ready for single-family, duplex, or multiple units.
      1434 NE 166Th St, Shoreline, WA 98155
      View Details

    Similar Nearby for Lease

    • $12,900 /Mo
      535 SF

      Shoreline Office Space For Lease

      Ground floor office, 535 sq ft, parking included.
      19944 Ballinger Way, Shoreline, WA 98155
      View Details
    • $22 SF/Yr
      1,560 SF

      Shoreline Office Space For Lease

      Prime Office Suite, Ballinger Way
      19944 Ballinger Way, Shoreline, WA 98155
      View Details
    • $22 SF/Yr
      1,554 SF

      Office Space at Ballinger Park

      Office space available with reception, conference room, and kitchen.
      19936-19944 Ballinger Way NE, Shoreline, WA 98155
      View Details
    • $28 SF/Yr
      1,343 SF

      Turnkey Office Suite For Lease

      Turnkey office suite in prime Shoreline location for lease.
      1207 N 152Nd St, Shoreline, WA 98155
      View Details
    • $22 SF/Yr
      1,560 SF

      Office Space at Ballinger Park

      Office space with reception, conference room, and private offices.
      19944 Ballinger Way NE, Shoreline, WA 98155
      View Details
    • $36 SF/Yr
      9,009 SF

      Alta City North Retail Spaces

      Shoreline Retail: New Construction, High Growth
      17732 15Th Ave, Shoreline, WA 98155
      View Details
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    16815 Bothell NE Way
    Lake Forest Park, WA 98155-5614
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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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