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Property profile & analytics
FOR LEASE
Office buildings
1881 S Burlington Blvd Burlington, WA 98233
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-1736241
For Lease
$22 SF/Yr
1881 S Burlington Blvd, Burlington, WA 98233
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1962
Total area
2,925 SF
Lot
0.51 ac (22,216 SF)
APN
340407-0-067-0025
UPID
US90-1736241
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
-
Bergman Rachel DVM Veterinary Clinic
-
Skagit Animal Clinic Veterinary Clinic
-
Pet Food Vet (Bike/Boat/Book/etc) Store Pet Store & Service
-
Dr. Gene Dight Veterinary Clinic
-
Richard, Kirsten, Dvm Veterinary Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$826k
Blend (final)
Blend
$645k
Owner & transaction history
Samson Properties LLC · 1 yrs held
Samson Properties LLC
since 2025
Last sale
$615,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$760,000
+13.4%
Auto repair, garage
$705,000
+5.1%
Retail stores
$705,000
+4.9%
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 Burlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlington 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$670,000
Current use
COMMERCIAL (GENERAL)
$760,000
Change: +13% · Conversion: Easy
AUTO REPAIR, GARAGE
$705,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$705,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$645k
Range $581k – $710k · ±10% · vs last sale $615k (Nov 26 2024)
Last sale anchor
$615k
Nov 26 2024
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
$221 / 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
$5,707
Tax year 2023
Assessed value
$649,400
Assessed 2022
Previous assessed
$651,600
-0.3% YoY
Effective rate
0.88%
On assessed value
Assessed land
$519,800
Assessed improvement
$129,600
Land market value
$519,800
Improvement market value
$129,600
Total market value
$649,400
Applied tax rate
905.0000
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
For Lease
Year built
1962
Heating
NONE
Stories
1
Total area
2,925 SF
Lot
0.51 ac (22,216 SF)
APN
340407-0-067-0025
UPID
US90-1736241
Jurisdiction
SKAGIT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$670,000
COMMERCIAL (GENERAL)
Est. value
$760,000
AUTO REPAIR, GARAGE
Est. value
$705,000
RETAIL STORES
Est. value
$705,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1962
Heating
NONE
Stories
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
Samson Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
700 WASHINGTON ST STE #401, VANCOUVER, WA 98660-3306
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2025
$615,000
Samson Properties LLC
Wellhaven Pethealth Wa LLC
Warranty Deed
—
Jul 2, 2018
$595,000
Wellhaven Pethealth Wa LLC
Dight,eugene K III & Molly B
Grant Deed
—
Dec 16, 2011
$195,935
Eugene K Dight III
Kaech,james E & Geraldine
Warranty Deed
$95,935 · James A & Geraldine Kaech
—
—
James A Kaech
—
Deed Of Trust
related
$272,406 · Skagit State 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.
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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