Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    219 1st St Langley, WA 98260
    Back to Search
    Property profile & analytics

    219 1st St, Langley, WA 98260

    View on Map
    • Turn key restaurants
    • 5,094 SF
    • 0.07 lot acres
    Off-Market
    Property ID
    US90-0941444
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 219 1st St

    Year built
    1936
    Lot size
    0.07 lot acres
    Zone code
    LG
    Property type
    Turn key restaurants
    APN
    S7345-00-12005-0
    APU
    S734500120050

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 18, 2014 $250,000 Karen Allen Whidbey Island Bk Grant Deed —
    May 8, 2012 $565,865 Whidbey Island Bk Bohannon Michael D Trustees Deed · related —
    Dec 29, 2008 — Michael J Rosenberg Rosenberg,pauline B Quit Claim Deed · related —
    Apr 27, 2006 — Michael J Rosenberg Rosenberg M & M Livi Trust Quit Claim Deed · related —
    Nov 28, 2005 — Rosenberg Pauline B Trust Rosenberg,pauline B Quit Claim Deed · related —
    Nov 16, 2004 — Michael J Rosenberg Rosenberg Michael & M Trust Quit Claim Deed · related —
    — — Michael J Rosenberg — Deed Of Trust · related $10k · Whidbey Island Bank
    — — Michael J Rosenberg — Deed Of Trust · related $550k · Whidbey Island Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Langley
    County
    Island
    State
    Washington
    Longitude
    -122.409
    Latitude
    48.0406
    CBSA code
    36020
    CBSA name
    OAK HARBOR, WA MICROPOLITAN 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
    0
    $0.00
    $389,863
    $105,542
    $495,405
    -
    $389,863
    $105,542
    $495,405

    Comparable in this City

    • Value Estimation by Request
      7,179 SF

      230 1st St

      RESTAURANT
      230 1st St, Langley, WA 98260
      View Details
    • Value Estimation by Request
      848 SF

      138 2nd St

      RESTAURANT
      138 2nd St, Langley, WA 98260-9850
      View Details
    • Value Estimation
      $900,000
      17,698 SF

      5725 Country Clb Dr

      RESTAURANT
      5725 Country Clb Dr, Langley, WA 98260-8303
      View Details
    • Value Estimation
      $1,050,000
      4,290 SF

      510 Cascade Ave

      RESTAURANT
      510 Cascade Ave, Langley, WA 98260
      View Details
    • Value Estimation
      $680,000
      4,212 SF

      919 3rd St

      RETAIL STORES (PERSONAL SERVICES)
      919 3rd St, Langley, WA 98260-9228
      View Details
    • Value Estimation
      $530,000
      2,224 SF

      5737 Bayview Rd

      RETAIL STORES (PERSONAL SERVICES)
      5737 Bayview Rd, Langley, WA 98260
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Established Pub Business and Building

      Turnkey pub opportunity in the heart of downtown Langley.
      317 2Nd St, Langley, WA 98260
      View Details
    • Contact for pricing
      8,620 SF

      Downtown Langley Landmark Building

      Updated commercial property with strong tenants and high cap rate.
      105 1St St, Langley, WA 98260
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    219 1st St
    Langley, WA 98260
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    219 1st St, Langley, WA, 98260
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!