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    Property profile & analytics

    19223 68th NE Dr Arlington, WA 98223

    • Warehouses
    • 45,000 SF
    • 9.43 lot acres
    OFF-MARKET
    Value Estimations
    $8,155,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2161119
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 19223 68th NE Dr

    Year built
    2020
    Lot size
    9.43 lot acres
    Property size
    45,000 SF
    Zone code
    GI
    Property type
    Warehouses
    APN
    31051400302900
    APU
    31051400302900

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,485,000
      6.5%
      $8,755,000
      7%
      $8,130,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $12,995,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Arlington
    County
    Snohomish
    State
    Washington
    Longitude
    -122.137
    Latitude
    48.1703
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $79,238
    $4,019,300
    $6,149,100
    $10,168,400
    -
    $4,019,300
    $6,149,100
    $10,168,400

    Comparable in this City

    • Value Estimation
      $3,880,000
      35,350 SF

      16626 Smokey Pt Blvd

      WAREHOUSE, STORAGE • 35,350 SF
      16626 Smokey Pt Blvd, Arlington, WA 98223-8409
      View Details
    • Value Estimation
      $1,795,000
      1.61 Acres

      Arlington, WA 98223

      WAREHOUSE, STORAGE • 1.61 Acres
      Arlington, WA 98223
      View Details
    • Value Estimation
      $5,325,000
      58,327 SF

      210 Ave

      WAREHOUSE, STORAGE • 58,327 SF
      210 Ave, Arlington, WA 98223-1553
      View Details
    • Value Estimation by Request
      1,140 SF

      6320 188th NE St

      WAREHOUSE, STORAGE • 1,140 SF
      6320 188th NE St, Arlington, WA 98223-4712
      View Details
    • Value Estimation
      $1,170,000
      12,441 SF

      19200 59th NE Dr

      WAREHOUSE, STORAGE • 12,441 SF
      19200 59th NE Dr, Arlington, WA 98223-7708
      View Details
    • Value Estimation
      $615,000
      4,400 SF

      20221 67th NE Ave

      WAREHOUSE, STORAGE • 4,400 SF
      20221 67th NE Ave, Arlington, WA 98223-7880
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,200 SF

      Industrial Campus with Secured Yard

      Two-building industrial campus with large, secured yard area.
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    • $4,000,000
      17,000 SF

      Smokey Point Multi-Use Space

      17,000 SF multi-use space in busy Smokey Point area.
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      28,048 SF

      Versatile Industrial Property For Sale

      Industrial property in Marysville, WA with value-add opportunities.
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    • $1,000,000
      0.63 Acres

      Lakewood Pointe Pad 3: Arlington, WA

      Prime Arlington R&D Land: I-5 Visibility
      17313 27Th Ave, Arlington, WA 98223
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      924,080 SF

      924,080 SF Industrial Park

      Five-building industrial park with manufacturing and distribution options.
      174Th Ave, Arlington, WA 98223
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    • Contact for pricing
      21,969 SF

      New Truck/Auto Service Facility

      Class A facility on 4.5 acres with highway frontage.
      20904 Smokey Point Blvd, Arlington, WA 98223
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      186,873 SF

      Arlington Warehouse Space For Lease

      New industrial warehouse space available for lease in Arlington, WA.
      16512 51St Ave NE, Arlington, WA 98223
      View Details
    • $1.50 SF/Yr
      3,072 SF

      Small Bay Warehouse with Dock

      Small bay warehouse space with dock high loading for lease.
      3813 168Th St NE, Arlington, WA 98223
      View Details
    • $1.50 SF/Yr
      15,360 SF

      Small Bay Warehouse Space Available

      Multi-tenant industrial building with office, parking, and loading docks.
      3813 168Th St NE | Arlington, Arlington, WA 98223
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    • $15 SF/Yr
      7,027 SF

      Arlington Corporate Center Spaces

      Multiple suites, 854-4552 sq ft.
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    • Contact for pricing
      81,760 SF

      Arlington Warehouse Space Available

      81,760 square foot warehouse space for lease in Arlington.
      20100 67Th Ave NE, Arlington, WA 98223
      View Details
    • Contact for pricing
      18,772 SF

      Arlington Warehouse with Loading Docks

      18,722 SF warehouse featuring multiple loading docks and grade doors.
      5950 192Nd St Northeast, Arlington, WA 98223
      View Details
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    19223 68th NE Dr
    Arlington, WA 98223
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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