Individually Owned 
For Lease
1 / 20
$24 SF/Yr
22232 17Th Ave SE, Bothell, WA 98021
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Property summary
AI-generated overview
Canyon Park Office Center is a three-story office building located at the intersection of I-405 and the Bothell-Everett Highway, adjacent to the Canyon Park Park & Ride. The building contains a mix of open-plan and private office spaces with interior light provided by natural light. Parking is provided via covered parking and additional surface parking. The property is positioned within walking distance of multiple retail and dining amenities, and the building configuration includes office space measuring 1,613 square feet.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1990
Construction
CONCRETE
Total area
42,396 SF
Lot
2.02 ac (87,991 SF)
Zoning code
OP, CB, MVSO
APN
27053000402400
UPID
US90-1119602
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Electronics & Wireless Store
-
Dental Office
-
Dental Office
-
Engineering Consultant
-
Electric Vehicle Charging Station
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.11M
CAP Approach
CAP
$12.39M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.48M
Owner & transaction history
since 2026
Last sale
$14.6M
7 recorded transactions
Zoning & alternative use
OP, CB, MVSO · Bothell, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 4 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$18.48M
Value range
$16.63M – $20.33M
±10% around blend
Estimated value / SF
$436 / SF
Confidence
Low
4 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
40
Income certainty
100
$16.63M
blend $18.48M
$20.33M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
42,396 SF
Lot area
2.02 ac
Year built
1990
Stories
2
APN
27053000402400
Zoning
OP, CB, MVSO
Assessed value
$13,650,000
Annual tax
$105,876
3
Income approach: direct capitalization
Partial preview
Income approach indication
$12.39M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$13.43M
@ 6.5% CAP return
$12.39M
@ 7% CAP return
$11.51M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$105,876
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$18.12M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
9.6 mi away · 34,873 SF
13.2 mi away · 44,090 SF
15.0 mi away · 53,480 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$18.48M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 26 sales
$604
-28%
County 197 sales
$357
+22%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $436/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
4.40%
Selected cap rate for this office buildings
Derived from the Bothell market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.40%
9.0%
NOI (est.)
$780k *
Last sale · Dec 2020
$14.61M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$17.73M
Move the market yield to see immediate price impact.
Value / SF
$418
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
3.90%4.40%4.90%
$702k
$18.00M
$15.96M
$14.33M
$780k
$20.00M
$17.73M
$15.92M
$858k
$22.00M
$19.50M
$17.51M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$10.20M
6.9 mi · Nov 2025 · $305/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$105,876
Tax year 2023
Assessed value
$13,650,000
Assessed 2023
Previous assessed
$13,169,000
+3.7% YoY
Effective rate
0.78%
On assessed value
Assessed land
$2,108,600
Assessed improvement
$11,541,400
Land market value
$2,108,600
Improvement market value
$11,541,400
Total market value
$13,650,000
Applied tax rate
902.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
1990
Construction
CONCRETE
Heating
YES
Cooling
NONE
Stories
2
Total area
42,396 SF
Lot
2.02 ac (87,991 SF)
Zoning code
OP, CB, MVSO
APN
27053000402400
UPID
US90-1119602
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
OP, CB, MVSO · Bothell, WAZoning OP, CB, MVSO · permitted uses
OP, CB, MVSO · Bothell, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1990
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
2
Lot
2.02 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
OP, CB, MVSO
Jurisdiction
Bothell, WA
Recorded code
OP, CB, MVSO
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for OP, CB, MVSO in Bothell, WA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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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