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Property profile & analytics
FOR LEASE
Office buildings
20011 Ballinger Way NE, Shoreline, WA 98155
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US90-0811864
No photos on file
For Lease
$2,884/Mo
20011 Ballinger Way NE, Shoreline, WA 98155
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,542 SF
Lot
0.85 ac (37,077 SF)
Zoning code
CB
APN
741770-0260
UPID
US90-0811864
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
by Request
CAP Approach
CAP
$3.33M
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$2.81M
Owner & transaction history
Rose Crossing LLC · 19 yrs held
Rose Crossing LLC
since 2006
5 recorded transactions
Zoning & alternative use
CB · Shoreline, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.6M
+13.5%
Apartment house (5+ units)
$4.1M
+0.4%
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 Shoreline submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shoreline 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%
$3,600,000
6.5%
$3,325,000
7%
$3,090,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,080,000
Current use
RETAIL STORES
$4,630,000
Change: +13% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$4,095,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$3,970,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$3,410,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$2.81M
Range $2.53M – $3.09M · ±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
$243 / 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
$46,413
Tax year 2022
Assessed value
$3,985,400
Assessed 2022
Previous assessed
$3,985,400
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,668,400
Assessed improvement
$2,317,000
Land market value
$1,668,400
Improvement market value
$2,317,000
Total market value
$3,985,400
Applied tax rate
2,266.0000
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
For Lease
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
AC.PACKAGE
Buildings
2
Stories
2
Total area
11,542 SF
Lot
0.85 ac (37,077 SF)
Zoning code
CB
APN
741770-0260
UPID
US90-0811864
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CB · Shoreline, WA
Zoning CB · permitted uses
CB · Shoreline, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shoreline. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.1M
RETAIL STORES
Est. value
$4.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$4.0M
WAREHOUSE, STORAGE
Est. value
$3.4M
OFFICE BUILDING Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
2
Buildings
2
Lot
0.85 ac
Current owner
From public records · entity-resolved
Rose Crossing LLC
Entity
Mailing address
PO BOX 82373, KENMORE, WA 98028-0373
Ownership since
2006
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
Aug 22, 2022
—
Rose Crossing LLC
—
Deed
related
$2,600,000 · 1st Security Bank Of Washington
Dec 12, 2006
$2,250,000
Rose Crossing LLC
Camnel Properties LLC
Warranty Deed
$3,000,000 · Shoreline Bank
Dec 6, 2005
$1,800,000
Camnel Properties LLC
State Farm Mutual Automobile Ins Co
Bargain And Sale Deed
$1,800,000 · Vw Credit INC
—
—
Rose Crossing LLC
—
Deed Of Trust
related
$3,000,000 · Shoreline Bank
—
—
Rose Crossing LLC
—
Deed Of Trust
related
$2,902,000 · Fortune 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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