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Property profile & analytics
OFF-MARKET
Estimated value
$12,550,000
Hotels
19103 State Rte 2nd 2, Monroe, WA 98272-1531
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-3319185
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1999
Construction
WOOD
Total area
38,040 SF
Lot
1.74 ac (75,794 SF)
Zoning code
GC
APN
808900000501
UPID
US90-3319185
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.02M
Blend (final)
Blend
$12.55M
Owner & transaction history
Monroe Hotel LLC · 3 yrs held
Monroe Hotel LLC
since 2023
Last sale
$12.2M
7 recorded transactions
Zoning & alternative use
GC · Monroe, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$19.7M
+62.1%
Auto repair, garage
$16.5M
+35.7%
Apartment house (5+ units)
$15.7M
+29.4%
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 Monroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monroe 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
$12,770,000
ML approach
$9,395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$12,160,000
Current use
RESTAURANT
$19,715,000
Change: +62% · Conversion: Difficult
AUTO REPAIR, GARAGE
$16,505,000
Change: +36% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$15,730,000
Change: +29% · Conversion: Difficult
MEDICAL BUILDING
$14,850,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$13,565,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,530,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$11,075,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$12.55M
Range $11.30M – $13.81M · ±10% · vs last sale $12.20M (Mar 27 2023)
Last sale anchor
$12.20M
Mar 27 2023
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
$330 / 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
$64,794
Tax year 2023
Assessed value
$8,700,000
Assessed 2023
Previous assessed
$7,279,000
+19.5% YoY
Effective rate
0.74%
On assessed value
Assessed land
$1,440,100
Assessed improvement
$7,259,900
Land market value
$1,440,100
Improvement market value
$7,259,900
Total market value
$8,700,000
Applied tax rate
530.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1999
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
3
Units
66
Rooms
66
Total area
38,040 SF
Lot
1.74 ac (75,794 SF)
Zoning code
GC
APN
808900000501
UPID
US90-3319185
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
GC · Monroe, WA
Zoning GC · permitted uses
GC · Monroe, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$12.2M
RESTAURANT
Est. value
$19.7M
AUTO REPAIR, GARAGE
Est. value
$16.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$15.7M
MEDICAL BUILDING
Est. value
$14.9M
OFFICE BUILDING
Est. value
$13.6M
COMMERCIAL (GENERAL)
Est. value
$11.5M
RETAIL STORES
Est. value
$11.1M
HOTEL/MOTEL Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1999
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Units
66
Rooms
66
Lot
1.74 ac
Current owner
From public records · entity-resolved
Monroe Hotel LLC
Entity
Mailing address
19103 STATE RTE 2ND 2, MONROE, WA 98272-1531
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2023
$12,200,000
Monroe Hotel LLC
Cmj66 Corp
Warranty Deed
$6,400,000 · Heritage Southeast Bank
Dec 19, 2019
$7,850,000
Cmj66 Corp
Ki S Kim
Warranty Deed
$1,238,200 · Bank Of Hope
May 1, 2017
$6,870,000
Ki S Kim
Shin,jeangsik
Warranty Deed
$4,166,000 · Unibank
Jun 30, 2006
$5,200,000
Jeangsik Shin
Bakerview Terrace Ptshp
Warranty Deed
$4,120,000 · Hanmi Bank
Apr 8, 1999
$3,330,000
Terrace Bakerview
Monroe Holiday Inn LLC
Grant Deed
—
—
—
Terrace Bakerview
—
Deed Of Trust
related
$2,575,000 · Holiday Monroe LLC
—
—
Jeangsik Shin
—
Deed Of Trust
related
$3,720,000 · Wilshire 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.
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