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Property profile & analytics
OFF-MARKET
Estimated value
$1,015,000
Office buildings
1912 Burlington Blvd Burlington, WA 98233-3228
Entity Owned
~
Est. High Equity
Property ID
US90-0612775
Property summary
AI-generated overview
This exceptional 4,875 square foot office building, located at 1912 S Burlington Blvd in Burlington, Washington, presents a unique investment opportunity. Built in 1978, this two-story structure offers a flexible layout with approximately 2,275 square feet on the lower level and 2,600 square feet on the upper level. The space is currently configured as a single-tenant occupancy but can be easily demised to accommodate multiple tenants. The property boasts convenient access via Burlington Boulevard curb cuts, Holmgren Lane, and a controlled intersection at Marketplace Drive. Its strategic location just off I-5 exit 229 (George Hopper Road), across from the Burlington Crossings Shopping Center, and adjacent to the Hampton Inn ensures high visibility and accessibility. The MUC-2 (Mixed Use Commercial) zoning allows for a variety of uses. The building features a traditional office design and sits on two parcels (APN 24145, 24146) in Skagit County. The property's zip code is 98233. All information is believed to be accurate but should be independently verified.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1978
Total area
3,907 SF
Lot
0.57 ac (24,829 SF)
APN
340408-0-023-0001
UPID
US90-0612775
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
-
Cascade Concrete Industries Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.37M
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.02M
Owner & transaction history
City Of Burlington
City Of Burlington
since 2026
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+13.4%
Auto repair, garage
$940,000
+5.1%
Retail stores
$940,000
+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%
$1,485,000
6.5%
$1,370,000
7%
$1,270,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$895,000
Current use
COMMERCIAL (GENERAL)
$1,015,000
Change: +13% · Conversion: Easy
AUTO REPAIR, GARAGE
$940,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$940,000
Change: +5% · Conversion: Moderate
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±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
$260 / 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
$7,992
Tax year 2022
Assessed value
$844,400
Assessed 2021
Previous assessed
$844,400
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$335,200
Assessed improvement
$509,200
Land market value
$335,200
Improvement market value
$509,200
Total market value
$844,400
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
OFFICE BUILDING
Status
Off-Market
Year built
1978
Heating
NONE
Buildings
2
Stories
1
Total area
3,907 SF
Lot
0.57 ac (24,829 SF)
APN
340408-0-023-0001
UPID
US90-0612775
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
$895,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$940,000
RETAIL STORES
Est. value
$940,000
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
1978
Heating
NONE
Stories
1
Buildings
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
City Of Burlington
Entity
Mailing address
PO BOX 547, MOUNT VERNON, WA 98273-0547
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
Mar 23, 2026
—
City Of Burlington
The Elms Mt LLC
Warranty Deed
—
May 1, 2023
$3,700,000
1912 S Burlington LLC
Cascade Properties LLC
Warranty Deed
$3,700,000 · Tryg Fortun Etal
—
—
Cascade Properties LLC
—
Deed Of Trust
related
$1,023,750 · Bank Of The Pacific
—
—
Cascade Properties LLC
—
Deed Of Trust
related
$665,092 · Frontier Bank
—
—
Cascade Properties LLC
—
Deed Of Trust
related
$989,824 · Frontier 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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