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Property profile & analytics
FOR LEASE
Medical Office Space
17788 147Th St SE Monroe, WA 98272
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1723219
No photos on file
For Lease
$12,565/Mo
17788 147Th St SE, Monroe, WA 98272
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1997
Construction
WOOD
Total area
9,600 SF
Lot
0.8 ac (34,848 SF)
Zoning code
O7
APN
28063500402100
UPID
US90-1723219
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
-
Jeff Kauffman, RPH Pharmacy
-
Jennifer Fidler, PharmD Pharmacy
-
Daniel L. Mcmanus, RPH Pharmacy
-
Smith Gary O Pharmacy
-
Bridgett Yankey Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.39M
CAP Approach
CAP
$2.16M
Comparable Approach
Comparable
$3.16M
Blend (final)
Blend
$2.39M
Owner & transaction history
R2h2 Investments LLC · 4 yrs held
R2h2 Investments LLC
since 2022
Last sale
$2.4M
5 recorded transactions
Zoning & alternative use
O7 · Monroe, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.0M
+5.9%
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 Monroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monroe 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
$2,380,000
ML approach
$2,385,000
CAP Approach
CAP Return
Estimation
6%
$2,345,000
6.5%
$2,160,000
7%
$2,010,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,750,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,970,000
Change: +6% · Conversion: Moderate
OFFICE BUILDING
$3,425,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$2.39M
Range $2.15M – $2.63M · ±10% · vs last sale $2.40M (Apr 21 2022)
Last sale anchor
$2.40M
Apr 21 2022
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
$249 / 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
$16,653
Tax year 2023
Assessed value
$2,235,000
Assessed 2023
Previous assessed
$1,726,000
+29.5% YoY
Effective rate
0.75%
On assessed value
Assessed land
$608,200
Assessed improvement
$1,626,800
Land market value
$608,200
Improvement market value
$1,626,800
Total market value
$2,235,000
Applied tax rate
530.0000
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
For Lease
Year built
1997
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
1
Total area
9,600 SF
Lot
0.8 ac (34,848 SF)
Zoning code
O7
APN
28063500402100
UPID
US90-1723219
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
O7 · Monroe, WA
Zoning O7 · permitted uses
O7 · Monroe, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.4M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1997
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.8 ac
Current owner
From public records · entity-resolved
R2h2 Investments LLC
Entity
Mailing address
2275 116TH AVE NE STE #100, BELLEVUE, WA 98004-3032
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2022
$2,400,000
R2h2 Investments LLC
Keith J Vander Houwen
Warranty Deed
$1,800,000 · Banner Bank
Aug 28, 2018
—
Keith J V Houwen
—
Deed
related
$136,000 · Us Bk
Aug 24, 2009
—
Keith J Vanderhouwen
Vanderhouwen,joyce K
Quit Claim Deed
related
—
—
—
Keith J V Houwen
—
Loan Modification
related
$136,000 · Us Bk
—
—
Keith J Vander Houwen
—
Deed Of Trust
related
$101,202 · 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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