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    21231 66th W Ave Lynnwood, WA 98036-7302
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    Property profile & analytics

    21231 66th W Ave, Lynnwood, WA 98036-7302

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    • Warehouses
    • 5,748 SF
    • 0.25 lot acres
    Off-Market
    Last Sale Jul 16, 2021
    $1,550,000
    Property ID
    US90-1245732
    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.
    Value Estimations
    $1,645,000
    Show details
    Cap Rate Potential
    4%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • PuroClean Northwest / Hardware & Home Improvement / Construction Company

    Property Details for 21231 66th W Ave

    Year built
    1997
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.25 lot acres
    Zone code
    LI
    Property type
    Warehouses
    APN
    27042900107200
    APU
    27042900107200

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 7, 2022 — Restoration Associates Northwest In Robert F Jordan Pe LLC Lease $637k · Ameritrust Cdc
    Jul 16, 2021 $1,550,000 Robert F Jordan Pe LLC Mg Lynnwood Properties LLC Warranty Deed $779k · Banner Bank
    Aug 1, 2019 — Mg Bothell Properties LLC — Deed · related $4.9M · Veristone Fund I LLC
    Jan 30, 2019 — Mg Lynnwood Properties LLC — Deed · related $4.7M · Veristone Fund I LLC
    Apr 25, 2018 — Mg Monroe Properties LLC — Deed · related $550k · Ritchie Group (tic)
    Apr 9, 2014 — Mg Lynnwood Properties LLC Moon,clifford E & Beryl T Quit Claim Deed · related —
    Feb 15, 2001 $322,331 Clifford E Moon Jet Properties INC Grant Deed $303k · Key Bank NA
    May 7, 1997 — Jet Properties INC — Grant Deed · related $240k · Prime Pacific Bank
    Aug 5, 1996 $55,000 Eric 7 Jan Tessem Hong,sa & Carol Grant Deed —
    — — Box File — Deed Of Trust · related $100k · Frontier Bank
    — — Box File — Deed Of Trust · related $50k · Frontier Bank
    — — Box File — Deed Of Trust · related $150k · Frontier Bank
    — — Box File — Deed Of Trust · related $50k · Frontier Bank
    — — Clifford E Moon — Deed Of Trust · related $375k · Banner Bank
    — — Clifford E Moon — Deed Of Trust · related $400k · Frontier Bank
    — — Mg Monroe Properties LLC — Deed Of Trust · related $550k · Ritchie Group (tic)

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,800,000
      ML approach
      $1,845,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,210,000
      6.5%
      $1,120,000
      7%
      $1,040,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,009,000
      Market price range: $744k - $2.61M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,660,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,375,000
      Change: +43% Conversion: Difficult
      MEDICAL BUILDING
      $2,245,000
      Change: +35% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,745,000
      Change: +5% Conversion: Difficult
      RETAIL STORES
      $1,615,000
      Change: -3% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.322
    Latitude
    47.8059
    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
    $10,612
    $359,100
    $1,038,900
    $1,398,000
    -
    $359,100
    $1,038,900
    $1,398,000

    Comparable in this City

    • Value Estimation by Request
      3.33 Acres

      19800 Birch Way

      WAREHOUSE, STORAGE
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    • Value Estimation
      $1,515,000
      16,625 SF

      4600 196th SW St

      MINI-WAREHOUSE, STORAGE
      4600 196th SW St, Lynnwood, WA 98036-5515
      View Details
    • Value Estimation
      $13,605,000
      121,164 SF

      2215 196th SW St

      MINI-WAREHOUSE, STORAGE
      2215 196th SW St, Lynnwood, WA 98036-7007
      View Details
    • Value Estimation
      $5,495,000
      8,192 SF

      20610 48th W Ave

      WAREHOUSE, STORAGE
      20610 48th W Ave, Lynnwood, WA 98036-7607
      View Details
    • Value Estimation
      $1,410,000
      6,220 SF

      21009 63rd W Ave

      WAREHOUSE, STORAGE
      21009 63rd W Ave, Lynnwood, WA 98036-8557
      View Details
    • Value Estimation
      $5,985,000
      48,659 SF

      20917 63rd W Ave

      WAREHOUSE, STORAGE
      20917 63rd W Ave, Lynnwood, WA 98036-8530
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      1,100 SF

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      Mixed-use space with high visibility and traffic counts.
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      Lynnwood Flex Space Available

      Flex space featuring office and warehouse components in Lynnwood, Washington.
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      8,000 SF

      Warehouse with Office and Showroom

      Colony Park warehouse space with office, showroom, and roll-up doors.
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      1,148 SF

      Lynnwood Warehouse Space Available

      Grade-level loading dead storage space in Lynnwood, Washington.
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      9,160 SF

      Lynnwood Warehouse with Office Space

      12,637 SF warehouse with office space for lease.
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      View Details
    • Contact for pricing
      8,000 SF

      Lynnwood Flex/Industrial Space Available

      Flex/industrial space for rent in Lynnwood, Washington.
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      View Details
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    Lynnwood, WA 98036-7302
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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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    21231 66th W Ave, Lynnwood, WA, 98036
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