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Property profile & analytics
OFF-MARKET
Medical Office Space
18515 Ballinger NE Way Lake Forest Park, WA 98155-2555
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US90-0676389
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,400 SF
Lot
0.28 ac (11,983 SF)
Zoning code
NB
APN
615290-0397
UPID
US90-0676389
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Ballinger Way Holdings LLC
Ballinger Way Holdings LLC
since 2026
Last sale
$1.3M
5 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,805
Tax year 2022
Assessed value
$684,000
Assessed 2022
Previous assessed
$684,000
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$479,300
Assessed improvement
$204,700
Land market value
$479,300
Improvement market value
$204,700
Total market value
$684,000
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
2,400 SF
Lot
0.28 ac (11,983 SF)
Zoning code
NB
APN
615290-0397
UPID
US90-0676389
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
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Ballinger Way Holdings LLC
Entity
Mailing address
16905 13TH AVE NW, SHORELINE, WA 98177-3830
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
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
Feb 4, 2026
$1,255,000
Ballinger Way Holdings LLC
Rainin Smiles Properties LLC
Warranty Deed
$1,422,000 · Fifth Third Bank NA
—
—
Alice M Hudson
—
Deed Of Trust
related
$56,057 · City Bank
—
—
Alice M Hudson
—
Deed Of Trust
related
$91,707 · Shoreline Bank
—
—
Alice M Hudson
—
Deed Of Trust
related
$91,702 · Shoreline Bank
—
—
Rainin Smiles Properties LLC
—
Deed Of Trust
related
$274,000 · Ernest Svasand
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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