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Property profile & analytics
OFF-MARKET
Estimated value
$2,265,000
Retail space
19705 State Rte 2nd 2 Monroe, WA 98272-2341
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0453818
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1993
Construction
WOOD
Total area
12,637 SF
Lot
0.96 ac (41,818 SF)
Zoning code
O1
APN
602300200200
UPID
US90-0453818
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
$2.26M
CAP Approach
CAP
$2.74M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.27M
Owner & transaction history
Department Of Enterprise Services · 3 yrs held
Department Of Enterprise Services
since 2022
Last sale
$2.3M
7 recorded transactions
Zoning & alternative use
O1 · Monroe, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,255,000
ML approach
$2,255,000
CAP Approach
CAP Return
Estimation
6%
$2,970,000
6.5%
$2,740,000
7%
$2,545,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,680,000
Current use
WAREHOUSE, STORAGE
$3,650,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$2.27M
Range $2.04M – $2.49M · ±10% · vs last sale $2.28M (Jan 14 2022)
Last sale anchor
$2.28M
Jan 14 2022
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
$179 / 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
$24,487
Tax year 2023
Assessed value
$3,288,400
Assessed 2023
Previous assessed
$3,417,000
-3.8% YoY
Effective rate
0.74%
On assessed value
Assessed land
$794,500
Assessed improvement
$2,493,900
Land market value
$794,500
Improvement market value
$2,493,900
Total market value
$3,288,400
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1993
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
12,637 SF
Lot
0.96 ac (41,818 SF)
Zoning code
O1
APN
602300200200
UPID
US90-0453818
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
O1 · Monroe, WA
Zoning O1 · permitted uses
O1 · 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
RETAIL STORES Current
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$3.7M
RETAIL STORES Current
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
1993
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Department Of Enterprise Services
Entity
Free & Clear · 3 yrs held
Mailing address
8206 2ND AVE NE, SEATTLE, WA 98115-4012
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Aug 12, 2022
—
Department Of Enterprise Services
Monroe Sr2 LLC
Lease
—
Jan 14, 2022
$2,275,000
Monroe Sr2 LLC
James R Ladd
Warranty Deed
—
Feb 12, 2020
—
Hanson,geraldine Trust
Monroe T2000 LLC|kem LLC
Deed In Lieu Of Foreclosure
related
—
Dec 30, 2009
$2,750,000
Kem LLC
Dshs Building LLC
Warranty Deed
$2,062,500 · Dshs LLC
Jan 7, 2008
—
Dshs Building LLC
Marhanlo LLC
Quit Claim Deed
related
—
Oct 10, 2001
—
Marhanlo LLC
Harold & Garaldine
Quit Claim Deed
related
—
Dec 28, 2000
—
Marhanlo LLC
Hanson,harold & Geraldine
Quit Claim 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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