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    18031 36th W Ave Lynnwood, WA 98037-3848
    Property profile & analytics

    18031 36th W Ave, Lynnwood, WA 98037-3848

    View on Map
    • Apartment buildings
    • 96,896 SF
    • 10.60 lot acres
    Off-Market
    Last Sale Dec 15, 2020
    $48,765,662
    Property ID
    US90-1237633
    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.
    Value Estimations
    $45,975,000
    Show details
    Cap Rate Potential
    2.3%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Alderwood Park / Apartment Complex / Apartment Rental Agency

    Property Details for 18031 36th W Ave

    Year built
    1983
    Construction
    WOOD
    Lot size
    10.60 lot acres
    Zone code
    RMM
    Property type
    Apartment buildings
    APN
    27041500100100
    APU
    27041500100100

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 10, 2025 — B9 Mf Alderwood Park LLC — Deed · related —
    Feb 16, 2021 — B9 Mf Alderwood Park LLC — Deed · related —
    Dec 15, 2020 — B9 Mf Alderwood Park LLC Gemini Alderwood Pk Fee Owner Grant Deed —
    Sep 24, 2015 $30,350 Gemini Alderwood Park Fee Owne Gfs Alderwood LLC Grant Deed $22.1M · Cbre Cap Markets
    — — Gfs Alderwood LLC — Deed Of Trust · related $15.6M · Deutsche Bank Berkshire Mtg

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $47,087,000
      Market price range: $29.0M - $68.4M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $40,070,000
      Current use
      RESTAURANT
      $50,215,000
      Change: +25% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $46,295,000
      Change: +16% Conversion: Difficult
      MEDICAL BUILDING
      $37,830,000
      Change: -6% Conversion: Moderate
      OFFICE BUILDING
      $33,150,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.279
    Latitude
    47.8341
    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
    $313,049
    $14,133,800
    $26,966,700
    $41,100,500
    -
    $14,133,800
    $26,966,700
    $41,100,500

    Comparable in this City

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      $28,910,000
      41,888 SF

      4800 168th SW St

      APARTMENT HOUSE (100+ UNITS)
      4800 168th SW St, Lynnwood, WA 98037-6814
      View Details
    • Value Estimation by Request

      3101 184th SW St

      APARTMENT HOUSE (100+ UNITS)
      3101 184th SW St, Lynnwood, WA 98037-4846
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    • Value Estimation by Request
      85,854 SF

      16626 6th W Ave

      APARTMENT HOUSE (100+ UNITS)
      16626 6th W Ave, Lynnwood, WA 98037-8834
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    • Value Estimation
      $5,040,000
      40,386 SF

      18225 52nd W Ave

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

      16605 6th W Ave

      APARTMENT HOUSE (100+ UNITS)
      16605 6th W Ave, Lynnwood, WA 98037-9372
      View Details
    • Value Estimation
      $47,970,000
      355,591 SF

      18606 Alderwood Mall Pkwy Ste, Unit 1125

      APARTMENT HOUSE (100+ UNITS)
      18606 Alderwood Mall Pkwy Ste, Lynnwood, WA 98037-8031
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      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
    • Contact for pricing

      Lynnwood Mobile Home Park

      Well-maintained mobile home park with additional income opportunities.
      5717 186Th Pl SW, Lynnwood, WA 98037
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      Office Suites Available for Lease

      Office suites available in Edmonds/Lynnwood submarket.
      3405 188Th St SW, Lynnwood, WA 98037
      View Details
    • $6,516,000

      Freestanding Restaurant Pad Near Mall

      Freestanding, remodeled restaurant pad with a 15-year lease.
      3321 184Th 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
    • Contact for pricing

      Land For Sale Lynnwood

      Land available for sale in Lynnwood, Washington.
      16431 20Th Ave W, Lynnwood, WA 98037
      View Details

    Similar Nearby for Lease

    • $2,700 /Mo
      1,792 SF

      Lynnwood Office Suites For Lease

      Furnished and unfurnished office suites available in Lynnwood.
      17414 Highway 99, Lynnwood, WA 98037
      View Details
    • $6,620 /Mo
      3,175 SF

      Lynnwood Commercial Space Available

      Commercial space available for rent in Lynnwood, Washington.
      3405 188Th St SW, Lynnwood, WA 98037
      View Details
    • Contact for pricing
      2,763 SF

      Highway 99 Retail/Office Endcap

      Renovated retail/office space with high exposure and flexible layout.
      18023 Highway 99, Lynnwood, WA 98037
      View Details
    • $4,025 /Mo
      2,100 SF

      Corner Office/Industrial Space Available

      Office and industrial space for rent on Highway 99.
      17925 Highway 99, Lynnwood, WA 98037
      View Details
    • Contact for pricing

      Lynnwood Office Spaces Available

      Office spaces available for rent in Lynnwood, Washington.
      3400-3500 188Th St SW, Lynnwood, WA 98037
      View Details
    • Contact for pricing

      Lynnwood Flex Space Available

      Flex space featuring warehouse and office areas near I-5.
      16531 13Th Ave West, Lynnwood, WA 98037
      View Details
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    Lynnwood, WA 98037-3848
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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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