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    2229 132nd SE St Everett, WA 98208-7147
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    2229 132nd SE St Everett, WA 98208-7147

    View on Map
    • Office buildings
    • 2,652 SF
    • 0.41 lot acres
    Off-Market
    Property ID
    US90-1614354
    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
    $720,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Animal Hospital at Murphy's Corner / Veterinary Clinic

    Property Details for 2229 132nd SE St

    Year built
    2017
    Construction
    WOOD
    Lot size
    0.41 lot acres
    Property size
    2,652 SF
    Zone code
    SI
    Property type
    Office buildings
    APN
    414300000900
    APU
    414300000900

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $790,000
      6.5%
      $730,000
      7%
      $675,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $497,000
      Market price range: $117k - $497k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $895,000
      Current use
      MEDICAL BUILDING
      $990,000
      Change: +10% Conversion: Easy
      AUTO REPAIR, GARAGE
      $935,000
      Change: +4% Conversion: Difficult
      RETAIL STORES
      $860,000
      Change: -4% Conversion: Moderate
      WAREHOUSE, STORAGE
      $820,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Everett
    County
    Snohomish
    State
    Washington
    Longitude
    -122.202
    Latitude
    47.8785
    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
    $9,868
    $496,500
    $640,300
    $1,136,800
    -
    $496,500
    $640,300
    $1,136,800

    Comparable in this City

    • Value Estimation
      $1,240,000
      4,450 SF

      127 Intercity Ave

      PROFESSIONAL BUILDING • 4,450 SF
      127 Intercity Ave, Everett, WA 98208-2732
      View Details
    • Value Estimation
      $3,800,000
      24,080 SF

      8625 Evergreen Way

      PROFESSIONAL BUILDING • 24,080 SF
      8625 Evergreen Way, Everett, WA 98208-2645
      View Details
    • Value Estimation
      $995,000
      5,586 SF

      111 Everett Mall Wayc

      PROFESSIONAL BUILDING • 5,586 SF
      111 Everett Mall Wayc, Everett, WA 98208-3208
      View Details
    • Value Estimation
      $4,185,000
      17,213 SF

      9121 Merchant Way

      PROFESSIONAL BUILDING • 17,213 SF
      9121 Merchant Way, Everett, WA 98208-2450
      View Details
    • Value Estimation
      $3,975,000
      19,384 SF

      500 Everett Mall Way

      PROFESSIONAL BUILDING • 19,384 SF
      500 Everett Mall Way, Everett, WA 98208-8110
      View Details
    • Value Estimation
      $1,765,000
      7,200 SF

      1710 100th SE Pl

      PROFESSIONAL BUILDING • 7,200 SF
      1710 100th SE Pl, Everett, WA 98208-3839
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,350 SF

      Everett Office Building For Sale

      8,356 SF office building available in Everett, Washington.
      10025 19Th Ave SE, Everett, WA 98208
      View Details
    • $1,995,000

      Versatile Commercial Property in Everett

      Well-located commercial property suitable for office, retail, flex, and industrial uses.
      1715 100Th Pl SE, Everett, WA 98208
      View Details
    • Contact for pricing

      Sound View Buildable Lot

      Near one-acre lot with sound and mountain views.
      1926 Maple St, Everett, WA 98208
      View Details
    • Contact for pricing

      Three Land Parcels For Sale

      Three adjacent land parcels totaling 1.14 acres for sale.
      816 126Th St, Everett, WA 98208
      View Details

    Similar Nearby for Lease

    • $35,928
      16,582 SF

      Everett Office Building For Lease

      Three-story office building with ample parking and convenient highway access.
      125 130Th St SE, Everett, WA 98208
      View Details
    • $26 SF/Yr
      16,582 SF

      Everett Office Building For Lease

      Three-story office building with convenient I-5 access for lease.
      125 130Th St Southeast, Everett, WA 98208
      View Details
    • $35,546
      16,406 SF

      Everett Office Building For Lease

      Three-story office building with convenient access to Interstate 5.
      125 130Th St SE, Everett, WA 98208
      View Details
    • $26 SF/Yr

      Everett Medical Office Building

      Three-story medical office building in Everett, Washington, with I-5 access.
      125 130Th St SE, Everett, WA 98208
      View Details
    • $3,008 /Mo
      11,424 SF

      Everett Office Space For Lease

      Office building with secured parking and EV charging stations.
      729 100Th St SW, Everett, WA 98208
      View Details
    • Contact for pricing

      Everett Office and Retail Space

      Office and retail space available near Paine Field Airport.
      906 Southeast Everett Mall Way, Everett, WA 98208
      View Details
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    Everett, WA 98208-7147
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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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