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Property profile & analytics
OFF-MARKET
Estimated value
$2,790,000
Office buildings
18205 Hwy 99 Lynnwood, WA 98037-4408
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1723397
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1977
Construction
TYPE NOT SPECIFIED
Total area
8,808 SF
Lot
0.72 ac (31,363 SF)
Zoning code
CG
APN
374300400103
UPID
US90-1723397
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
-
Classic Collision Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.13M
CAP Approach
CAP
$2.58M
Comparable Approach
Comparable
$3.07M
Blend (final)
Blend
$2.79M
Owner & transaction history
Ap Real Property LLC · 5 yrs held
Ap Real Property LLC
since 2020
Last sale
$2.4M
3 recorded transactions
Zoning & alternative use
CG · Lynnwood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.6M
+51.5%
Auto repair, garage
$4.2M
+39.7%
Apartment house (5+ units)
$3.6M
+20.9%
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 Lynnwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynnwood 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
$3,080,000
ML approach
$3,130,000
CAP Approach
CAP Return
Estimation
6%
$2,790,000
6.5%
$2,575,000
7%
$2,390,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,015,000
Current use
RESTAURANT
$4,565,000
Change: +51% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,210,000
Change: +40% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,645,000
Change: +21% · Conversion: Easy
MEDICAL BUILDING
$3,440,000
Change: +14% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,670,000
Change: -11% · Conversion: Easy
WAREHOUSE, STORAGE
$2,545,000
Change: -16% · Conversion: Difficult
RETAIL STORES
$2,475,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$2.79M
Range $2.51M – $3.07M · ±10% · vs last sale $2.44M (Aug 21 2020)
Last sale anchor
$2.44M
Aug 21 2020
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
$317 / 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
$20,813
Tax year 2023
Assessed value
$2,506,300
Assessed 2023
Previous assessed
$2,325,000
+7.8% YoY
Effective rate
0.83%
On assessed value
Assessed land
$1,253,700
Assessed improvement
$1,252,600
Land market value
$1,253,700
Improvement market value
$1,252,600
Total market value
$2,506,300
Applied tax rate
452.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1977
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
1
Total area
8,808 SF
Lot
0.72 ac (31,363 SF)
Zoning code
CG
APN
374300400103
UPID
US90-1723397
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CG · Lynnwood, WA
Zoning CG · permitted uses
CG · Lynnwood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lynnwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.0M
RESTAURANT
Est. value
$4.6M
AUTO REPAIR, GARAGE
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.6M
MEDICAL BUILDING
Est. value
$3.4M
COMMERCIAL (GENERAL)
Est. value
$2.7M
WAREHOUSE, STORAGE
Est. value
$2.5M
RETAIL STORES
Est. value
$2.5M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
RETAIL STORES
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
1977
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
Ap Real Property LLC
Entity
Mailing address
2156 CLOVER CT, MUKILTEO, WA 98275-2420
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2023
—
Ap Real Property LLC
—
Deed
related
$1,565,000 · Washington State Employees Cu
Aug 21, 2020
$2,435,825
Ap Real Property LLC
Kim A Pierce
Warranty Deed
$2,266,700 · Umpqua Bank
Jun 1, 1989
$540,000
—
—
Grant Deed
related
$361,800 · Seller
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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