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Property profile & analytics
OFF-MARKET
Estimated value
$7,200,000
Retail properties & Spaces
19320 33rd W Ave Lynnwood, WA 98036-4734
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1607763
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1999
Construction
STEEL FRAME
Total area
30,240 SF
Lot
1.34 ac (58,370 SF)
Zoning code
LC
APN
372600200801
UPID
US90-1607763
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
-
Scan Design Furniture Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.20M
CAP Approach
CAP
$6.56M
Comparable Approach
Comparable
$8.17M
Blend (final)
Blend
$7.20M
Owner & transaction history
Rai Capital INC · 2 yrs held
Rai Capital INC
since 2024
Last sale
$7.2M
5 recorded transactions
Zoning & alternative use
LC · Lynnwood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$11.8M
+39.0%
Commercial (general)
$9.2M
+7.9%
Warehouse, storage
$8.7M
+2.8%
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 Lynnwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynnwood 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
$7,200,000
ML approach
$7,200,000
CAP Approach
CAP Return
Estimation
6%
$7,100,000
6.5%
$6,555,000
7%
$6,090,000
Alternative Use
Use
Estimation
RETAIL STORES
$8,495,000
Current use
MEDICAL BUILDING
$11,805,000
Change: +39% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,165,000
Change: +8% · Conversion: Easy
WAREHOUSE, STORAGE
$8,735,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$7.20M
Range $6.48M – $7.92M · ±10% · vs last sale $7.20M (May 8 2024)
Last sale anchor
$7.20M
May 8 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
$238 / 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
$54,877
Tax year 2023
Assessed value
$7,243,200
Assessed 2023
Previous assessed
$7,243,200
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$2,012,500
Assessed improvement
$5,230,700
Land market value
$2,012,500
Improvement market value
$5,230,700
Total market value
$7,243,200
Applied tax rate
452.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1999
Construction
STEEL FRAME
Heating
YES
Cooling
NONE
Stories
2
Total area
30,240 SF
Lot
1.34 ac (58,370 SF)
Zoning code
LC
APN
372600200801
UPID
US90-1607763
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LC · Lynnwood, WA
Zoning LC · permitted uses
LC · Lynnwood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lynnwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$8.5M
MEDICAL BUILDING
Est. value
$11.8M
COMMERCIAL (GENERAL)
Est. value
$9.2M
WAREHOUSE, STORAGE
Est. value
$8.7M
RETAIL STORES Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
1.34 ac
Current owner
From public records · entity-resolved
Rai Capital INC
Entity
Mailing address
402 STRANDER BLVDB, TUKWILA, WA 98188-2919
Ownership since
2024
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
May 8, 2024
$7,200,000
Rai Capital INC
Scan Design By Inge & Jens Bruun Fn
Warranty Deed
—
Feb 3, 2021
—
City Of Lynnwood
Scan Design By Inger & Jens Bruun F
Warranty Deed
—
May 24, 2007
—
Scan Design By Inger & Jens Br
Bruun Jens C
Quit Claim Deed
related
—
Jul 30, 1998
$1,200,000
Jens Bruun
First Western Development III
Grant Deed
—
Aug 1, 1977
$87,000
—
—
Grant Deed
related
—
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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