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Property profile & analytics
OFF-MARKET
Estimated value
$22,915,000
Retail space
208 91st NE Ave, Lake Stevens, WA 98258
Entity Owned
Free & Clear
Property ID
US90-1658506
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2000
Construction
TYPE NOT SPECIFIED
Total area
56,428 SF
Lot
8.47 ac (368,953 SF)
Zoning code
SK
APN
29051300300800
UPID
US90-1658506
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
by Request
Comparable Approach
Comparable
$20.62M
Blend (final)
Blend
$22.92M
Owner & transaction history
Gwl Direct 8915 Market Place LLC
Gwl Direct 8915 Market Place LLC
since 2025
Last sale
$29.3M
7 recorded transactions
Zoning & alternative use
SK · Lake Stevens, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$28.5M
+55.3%
Restaurant
$26.6M
+45.2%
Medical building
$21.0M
+14.8%
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 Lake Stevens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Stevens 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$18,315,000
Current use
APARTMENT HOUSE (5+ UNITS)
$28,450,000
Change: +55% · Conversion: Difficult
RESTAURANT
$26,595,000
Change: +45% · Conversion: Easy
MEDICAL BUILDING
$21,030,000
Change: +15% · Conversion: Difficult
AUTO REPAIR, GARAGE
$19,850,000
Change: +8% · Conversion: Difficult
OFFICE BUILDING
$19,065,000
Change: +4% · Conversion: Easy
WAREHOUSE, STORAGE
$17,435,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$22.92M
Range $20.62M – $25.21M · ±10% · vs last sale $29.25M (Dec 15 2025)
Last sale anchor
$29.25M
Dec 15 2025
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
$406 / 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
$167,983
Tax year 2023
Assessed value
$18,011,000
Assessed 2023
Previous assessed
$17,981,000
+0.2% YoY
Effective rate
0.93%
On assessed value
Assessed land
$7,209,000
Assessed improvement
$10,802,000
Land market value
$7,209,000
Improvement market value
$10,802,000
Total market value
$18,011,000
Applied tax rate
408.0000
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
2000
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Buildings
3
Stories
2
Bathrooms
1
Total area
56,428 SF
Lot
8.47 ac (368,953 SF)
Zoning code
SK
APN
29051300300800
UPID
US90-1658506
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SK · Lake Stevens, WA
Zoning SK · permitted uses
SK · Lake Stevens, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Stevens. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$18.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$28.5M
RESTAURANT
Est. value
$26.6M
MEDICAL BUILDING
Est. value
$21.0M
AUTO REPAIR, GARAGE
Est. value
$19.9M
OFFICE BUILDING
Est. value
$19.1M
WAREHOUSE, STORAGE
Est. value
$17.4M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE 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
2000
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Buildings
3
Bathrooms
1
Lot
8.47 ac
Current owner
From public records · entity-resolved
Gwl Direct 8915 Market Place LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 130339, CARLSBAD, CA 92013-0339
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2025
$29,250,000
Gwl Direct 8915 Market Place LLC
B10 Mountain A Wa LLC
Bargain & Sale Deed
—
Feb 24, 2025
—
B10 Mountain A Wa LLC
Roic Washington LLC
Warranty Deed
—
Jun 6, 2013
—
Roic Washington LLC
Roic Lake Stevens LLC
Quit Claim Deed
related
—
Mar 11, 2010
$16,150,000
Roic Lake Stevens LLC
Corniche Dev INC
Warranty Deed
—
Oct 30, 1998
—
Corniche Development INC
—
Deed Of Trust
related
$7,125,000 · Us Bank
Aug 5, 1998
—
Snohomish County
Corniche Development INC
Grant Deed
related
—
Aug 1, 1990
$579,282
Corniche Dev INC
Unknown
Grant Deed
—
—
—
Haggen INC
—
Deed Of Trust
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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