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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Commercial real estate
22314 70th Ave W Ste 6 Mountlake Terrace, WA 98043-2190
Individually Owned
21-yr Hold
~
Est. High Equity
Property ID
US90-1508703
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
1981
Construction
TYPE NOT SPECIFIED
Total area
2,282 SF
Lot
0.15 ac (6,534 SF)
Zoning code
P5
APN
714800200600
UPID
US90-1508703
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$395k
Comparable Approach
Comparable
$595k
Blend (final)
Blend
$555k
Owner & transaction history
Michael Stelma · 21 yrs held
Michael Stelma
since 2004
3 recorded transactions
Zoning & alternative use
P5 · Mountlake Terrace, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$890,000
+28.8%
Office building
$815,000
+17.6%
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 Mountlake Terrace submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mountlake Terrace 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$430,000
6.5%
$395,000
7%
$365,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$690,000
Current use
MEDICAL BUILDING
$890,000
Change: +29% · Conversion: Easy
OFFICE BUILDING
$815,000
Change: +18% · Conversion: Easy
RETAIL STORES
$665,000
Change: -4% · Conversion: Easy
WAREHOUSE, STORAGE
$660,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±10%
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
$243 / 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
$3,837
Tax year 2023
Assessed value
$536,000
Assessed 2023
Previous assessed
$470,000
+14.0% YoY
Effective rate
0.72%
On assessed value
Assessed land
$216,300
Assessed improvement
$319,700
Land market value
$216,300
Improvement market value
$319,700
Total market value
$536,000
Applied tax rate
610.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
Off-Market
Year built
1981
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
2,282 SF
Lot
0.15 ac (6,534 SF)
Zoning code
P5
APN
714800200600
UPID
US90-1508703
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
P5 · Mountlake Terrace, WA
Zoning P5 · permitted uses
P5 · Mountlake Terrace, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mountlake Terrace. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$690,000
MEDICAL BUILDING
Est. value
$890,000
OFFICE BUILDING
Est. value
$815,000
RETAIL STORES
Est. value
$665,000
WAREHOUSE, STORAGE
Est. value
$660,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Michael Stelma
Individual
Mailing address
7405 176TH ST SW, EDMONDS, WA 98026-5527
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2004
$1,440,000
Michael Stelma
Castle Harbor LLC
Grant Deed
$1,200,000 · Shoreline Bank
Sep 2, 1998
—
Castle Harbor LLC
Maurice,thomas F & Roberta L
Quit Claim Deed
related
—
—
—
Castle Harbor LLC
—
Deed Of Trust
related
$800,000 · Wells Fargo Bank
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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