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Property profile & analytics
OFF-MARKET
Estimated value
$8,620,000
Outlet malls
22029 23rd SE Dr Bothell, WA 98021-4410
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1138998
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1987
Construction
TYPE NOT SPECIFIED
Total area
50,425 SF
Lot
3.23 ac (140,699 SF)
Zoning code
OP, LI
APN
27052900201300
UPID
US90-1138998
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
Current use
Occupant on record · Public records
-
Barclay Dean Architectural Products Corporate Office
-
Grand Event Rentals Party Supply Store Rental Equipment Company
-
Barclay Dean Architectural Prd Architect
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.62M
CAP Approach
CAP
$10.93M
Comparable Approach
Comparable
$7.57M
Blend (final)
Blend
$8.62M
Owner & transaction history
Department Of Transportation · 4 yrs held
Department Of Transportation
since 2021
Last sale
$8.2M
7 recorded transactions
Zoning & alternative use
OP, LI · Bothell, 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 Bothell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bothell 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
$9,520,000
ML approach
$9,620,000
CAP Approach
CAP Return
Estimation
6%
$11,845,000
6.5%
$10,930,000
7%
$10,150,000
Blend value · Realmo final
$8.62M
Range $7.76M – $9.48M · ±10% · vs last sale $8.20M (Nov 30 2021)
Last sale anchor
$8.20M
Nov 30 2021
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
$171 / 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
$82,594
Tax year 2023
Assessed value
$9,936,500
Assessed 2023
Previous assessed
$8,774,100
+13.2% YoY
Effective rate
0.83%
On assessed value
Assessed land
$2,391,200
Assessed improvement
$7,545,300
Land market value
$2,391,200
Improvement market value
$7,545,300
Total market value
$9,936,500
Applied tax rate
902.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1987
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
50,425 SF
Lot
3.23 ac (140,699 SF)
Zoning code
OP, LI
APN
27052900201300
UPID
US90-1138998
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OP, LI · Bothell, WA
Zoning OP, LI · permitted uses
OP, LI · Bothell, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bothell. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1987
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
3.23 ac
Current owner
From public records · entity-resolved
Department Of Transportation
Entity
Mailing address
13910 242ND AVE NE, WOODINVILLE, WA 98077-5812
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2021
—
Department Of Transportation
Heartland Nw Properties LLC
Quit Claim Deed
related
—
Jun 14, 2018
—
Heartland Nw Properties LLC
Cp Five LLC
Quit Claim Deed
related
—
Oct 31, 2016
$8,200,000
Cp Five LLC
Acah Investments LLC
Warranty Deed
—
Dec 30, 2011
$6,785,000
Acah Invs LLC
Cp5 LLC
Warranty Deed
—
Apr 16, 1997
—
Benaroya Capital Co
—
Deed Of Trust
related
$8,053,445 · Us Bank Of Washington
Feb 19, 1997
$3,507
Benoraya Capital Co LLC
Hillside Associates
Grant Deed
related
—
—
—
Cp5 LLC
—
Deed Of Trust
related
$124,316 · Washington Trust Bank
—
—
Acah Investments LLC
—
Deed Of Trust
related
$4,746,000 · Kitsap Bank
—
—
Acah Investments LLC
—
Deed Of Trust
related
$2,750,000 · Key Bank NA
—
—
Cp5 LLC
—
Deed Of Trust
related
$2,058,000 · Rural Housing & Community Dev
—
—
Cp5 LLC
—
Deed Of Trust
related
$3,557,500 · General Electric Capital Corp
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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