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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Investment properties
18512 Ballinger NE Way Lake Forest Park, WA 98155-2556
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1357964
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,213 SF
Lot
0.43 ac (18,850 SF)
Zoning code
NB
APN
615290-0392
UPID
US90-1357964
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$855k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$695k
Owner & transaction history
State Of Washington · 1 yrs held
State Of Washington
since 2024
6 recorded transactions
Zoning & alternative use
NB · Lake Forest Park, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lake Forest Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Forest Park 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$925,000
6.5%
$855,000
7%
$795,000
Blend value · Realmo final
$695k
Range $626k – $765k · ±10%
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
$165 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$12,173
Tax year 2022
Assessed value
$944,600
Assessed 2022
Previous assessed
$944,600
+0.0% YoY
Effective rate
1.29%
On assessed value
Assessed land
$754,000
Assessed improvement
$190,600
Land market value
$754,000
Improvement market value
$190,600
Total market value
$944,600
Applied tax rate
1,256.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Buildings
2
Stories
2
Total area
4,213 SF
Lot
0.43 ac (18,850 SF)
Zoning code
NB
APN
615290-0392
UPID
US90-1357964
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NB · Lake Forest Park, WA
Zoning NB · permitted uses
NB · Lake Forest Park, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Forest Park. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
2
Buildings
2
Lot
0.43 ac
Current owner
From public records · entity-resolved
State Of Washington
Individual
Mailing address
23840 115TH PL W, WOODWAY, WA 98020-5212
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2024
—
State Of Washington
18512 Ballinger Way Ne LLC
Warranty Deed
—
Sep 2, 2016
—
18512 Ballinger Way Ne LLC
—
Deed
related
$112,813 · Coastal Community Bank
Jan 23, 2013
—
18512 Ballinyer Way Ne LLC
Lumley,brent
Quit Claim Deed
related
—
May 30, 1996
—
John Lawrence
Lumley,brent D & Sallie M
Quit Claim Deed
related
—
Jan 8, 1993
$412,000
James R Sortor
Culver,r Joyce
Grant Deed
$362,600 · Seller
—
—
Brent D Lunley
—
Deed Of Trust
related
$360,000 · Pacific Northwest 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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