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    18215 59th NE Ave Arlington, WA 98223
    Property profile & analytics

    18215 59th NE Ave, Arlington, WA 98223

    View on Map
    • Warehouses
    • 135,326 SF
    • 15.00 lot acres
    Off-Market
    Property ID
    US90-2494803
    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
    $17,770,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 18215 59th NE Ave

    Year built
    2019
    Construction
    TYPE NOT SPECIFIED
    Lot size
    15.00 lot acres
    Zone code
    GI
    Property type
    Warehouses
    APN
    31052200101200
    APU
    31052200101200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Arlington
    County
    Snohomish
    State
    Washington
    Longitude
    -122.149
    Latitude
    48.162
    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
    $155,982
    $5,842,000
    $13,322,000
    $19,164,000
    -
    $5,842,000
    $13,322,000
    $19,164,000

    Comparable in this City

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      $2,185,000
      24,480 SF

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      MINI-WAREHOUSE, STORAGE
      6119 172nd NE St, Arlington, WA 98223
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    • Value Estimation
      $3,220,000
      37,940 SF

      17011 59th NE Ave

      MINI-WAREHOUSE, STORAGE
      17011 59th NE Ave, Arlington, WA 98223-4875
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    • Value Estimation
      $695,000
      4,964 SF

      Arlington, WA 98223

      WAREHOUSE, STORAGE
      Arlington, WA 98223
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    • Value Estimation
      $4,145,000
      28,368 SF

      3830 168th NE St

      MINI-WAREHOUSE, STORAGE
      3830 168th NE St, Arlington, WA 98223-8412
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    • Value Estimation
      $575,000
      16,048 SF

      6101 199th NE St

      WAREHOUSE, STORAGE
      6101 199th NE St, Arlington, WA 98223-3749
      View Details
    • Value Estimation
      $3,880,000
      35,350 SF

      16626 Smokey Pt Blvd

      WAREHOUSE, STORAGE
      16626 Smokey Pt Blvd, Arlington, WA 98223-8409
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Smokey Point Multi-Use Space

      17,000 SF multi-use space in busy Smokey Point area.
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      21,969 SF

      Modern Facility with I-5 Visibility

      21,969 SF facility on 4.5 acres near I-5.
      20904 Smokey Point Blvd, Arlington, WA 98223
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    • $3,895,000
      17,000 SF

      Smokey Point Multi-Use Space

      17,000 SF multi-use space in busy Smokey Point area.
      18824 Smokey Point Blvd, Arlington, WA 98223
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    • Contact for pricing
      13,200 SF

      Industrial Campus with Secured Yard

      Two-building industrial campus with large, secured yard area.
      19321 63Rd Ave NE, Arlington, WA 98223
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    • Contact for pricing
      109,612 SF

      Arlington Warehouse Space Available

      81,760 square foot warehouse space for lease in Arlington.
      20100 67Th Ave NE, Arlington, WA 98223
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    • Contact for pricing
      17,000 SF

      Smokey Point Multi-Use Space

      17,000 SF multi-use space in busy Smokey Point area.
      18824 Smokey Point Blvd, Arlington, WA 98223
      View Details

    Similar Nearby for Lease

    • $155 SF/Yr
      1,063 SF

      Arlington Industrial & Office Solutions

      Scalable industrial and office spaces in a strategic Arlington location.
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      View Details
    • $5,269 /Mo
      3,903 SF

      Warehouse and Office Space Available

      Flex space featuring warehouse and office components for lease.
      3810 166Th Pl NE, Arlington, WA 98223
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    • $51,480
      66,000 SF

      Arlington Warehouse and Industrial Space

      Flexible warehouse and industrial spaces available for lease.
      19405 68Th Dr NE, Arlington, WA 98223
      View Details
    • $18 SF/Yr

      Arlington Industrial Warehouse For Lease

      Industrial warehouse space with easy access to I-5 and Hwy 9.
      21110 67Th Ave NE, Arlington, WA 98223
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    • Contact for pricing
      264 SF

      Arlington Industrial and Office Space

      Industrial and office units in central Arlington location.
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    • $2,497 /Mo
      1,722 SF

      Shop Facility with Yard Space

      1,722 SF shop with overhead doors and yard.
      19203 Smokey Point Blvd, Arlington, WA 98223
      View Details
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    Arlington, WA 98223
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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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    18215 59th NE Ave, Arlington, WA, 98223
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