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    Property profile & analytics

    19233 State Rte 2nd 2 Monroe, WA 98272-1513

    • Hotels
    • 30,806 SF
    • 1.00 lot acres
    OFF-MARKET
    Last Sale
    Nov 22, 2021
    $8,500,000
    Value Estimations
    $10,005,000
    Show details
    Cap Rate Potential
    2.3%
    Hotels
    Location Intelligence
    Property ID
    US90-0030229
    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

    • Hotels

    Property Details for 19233 State Rte 2nd 2

    Year built
    1994
    Construction
    WOOD
    Lot size
    1.00 lot acres
    Property size
    30,806 SF
    Zone code
    GC
    Property type
    Hotels
    Property subtype
    Motels
    APN
    808900000300
    APU
    808900000300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,865,000
      ML approach
      $9,790,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,901,000
      Market price range: $7.93M - $13.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Snohomish
    State
    Washington
    Longitude
    -121.972
    Latitude
    47.8607
    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
    $59,209
    $833,100
    $7,116,900
    $7,950,000
    -
    $833,100
    $7,116,900
    $7,950,000

    Comparable in this City

    • Value Estimation
      $5,905,000
      18,079 SF

      18950 State Rte 2nd 2

      HOTEL/MOTEL • 18,079 SF
      18950 State Rte 2nd 2, Monroe, WA 98272-1415
      View Details
    • Value Estimation
      $12,790,000
      38,040 SF

      19103 State Rte 2nd 2

      HOTEL/MOTEL • 38,040 SF
      19103 State Rte 2nd 2, Monroe, WA 98272-1531
      View Details
    • Value Estimation
      $265,000
      5,406 SF

      19930 State Rte 2nd 2

      HOTEL/MOTEL • 5,406 SF
      19930 State Rte 2nd 2, Monroe, WA 98272-2356
      View Details
    • Value Estimation
      $365,000
      5,228 SF

      20310 Old Owen Rd

      HOTEL/MOTEL • 5,228 SF
      20310 Old Owen Rd, Monroe, WA 98272-9751
      View Details
    • Value Estimation
      $250,000
      78.67 Acres

      Monroe, WA 98272

      CAMPGROUND, RV PARK • 78.67 Acres
      Monroe, WA 98272
      View Details
    • Value Estimation
      $260,000
      57.05 Acres

      25405 Lk Fontal Rd

      CAMPGROUND, RV PARK • 57.05 Acres
      25405 Lk Fontal Rd, Monroe, WA 98272-9306
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11.04 Acres

      Tjerne Place: Prime Development Site

      11-Acre Mixed-Use Land, Monroe, WA
      0 Tjerne Pl, Monroe, WA 98272
      View Details
    • $460,000

      5.07 Acres Ready For Home

      5.07 acres approved for a 4-bedroom home.
      26424 174Th St, Monroe, WA 98272
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    • $550,000

      Monroe Acreage with Subdivision Potential

      11.51-acre parcel in Monroe with subdivision potential and creek.
      20412 Ricci Rd, Monroe, WA 98272
      View Details
    • $3,000,000

      Monroe Development Opportunity: 2.78 Acres

      2.78 acres in Monroe with mixed-use zoning and income potential.
      16311 177Th Ave, Monroe, WA 98272
      View Details
    • $5,000,000

      Monroe Airport with Development Potential

      Privately owned airport near Seattle with leased hangars and storage.
      13814 179Th Ave SE, Monroe, WA 98272
      View Details
    • $5,200,000

      Renovated Multifamily Community in Monroe

      18-unit multifamily property with renovated units and diverse floorplans.
      520 Kelsey St, Monroe, WA 98272
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,430 SF

      Monroe Warehouse Space Available

      Warehouse space available for rent in Monroe, Washington.
      17239-17251 Tye St SE, Monroe, WA 98272
      View Details
    • $1.10 SF/Yr
      4,000 SF

      Monroe Warehouse Space Available

      4,000 square foot warehouse space for rent in Monroe.
      17631 147Th St SE, Monroe, WA 98272
      View Details
    • $2,900 /Mo
      1,669 SF

      Three-Bedroom Home in Trombley Hills

      Well-maintained 3-bedroom home in desirable Trombley Hills neighborhood.
      13472 Summit Ave SE, Monroe, WA 98272
      View Details
    • $20 SF/Yr
      7,539 SF

      Prime Retail/Medical Space Available

      High-visibility location ideal for retail, medical, and restaurant uses.
      17788-17792 147Th St SE, Monroe, WA 98272
      View Details
    • $12 SF/Yr
      42,047 SF

      Monroe Warehouse: 42,047 SF

      Highly functional distribution warehouse. Six docks, one drive-in.
      17045 Tye St, Monroe, WA 98272
      View Details
    • $1.34 SF/Yr
      7,296 SF

      Industrial Space with Highway Access

      Industrial property for rent with great highway access and visibility.
      20016 Old Owen Rd, Monroe, WA 98272
      View Details
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    19233 State Rte 2nd 2
    Monroe, WA 98272-1513
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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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