New search
Property profile & analytics
FOR LEASE
Office buildings
22720 Highway 99 Edmonds, WA 98026
Entity Owned
15-yr Hold
Free & Clear
Property ID
US90-1571153
For Lease
$28 SF/Yr
22720 Highway 99, Edmonds, WA 98026
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1985
Construction
WOOD
Total area
3,120 SF
Lot
0.95 ac (41,382 SF)
Zoning code
26
APN
27043000404800
UPID
US90-1571153
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
$910k
Comparable Approach
Comparable
$926k
Blend (final)
Blend
$995k
Owner & transaction history
Boo Han Plaza IV LLC · 15 yrs held
Boo Han Plaza IV LLC
since 2010
6 recorded transactions
Zoning & alternative use
26 · Edmonds, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+12.1%
Medical building
$1.2M
+0.9%
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 Edmonds submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edmonds 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%
$990,000
6.5%
$910,000
7%
$845,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,210,000
Current use
AUTO REPAIR, GARAGE
$1,355,000
Change: +12% · Conversion: Difficult
MEDICAL BUILDING
$1,220,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±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
$319 / 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
$9,013
Tax year 2023
Assessed value
$1,324,000
Assessed 2023
Previous assessed
$1,164,000
+13.7% YoY
Effective rate
0.68%
On assessed value
Assessed land
$1,271,600
Assessed improvement
$52,400
Land market value
$1,271,600
Improvement market value
$52,400
Total market value
$1,324,000
Applied tax rate
227.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
1985
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
2
Stories
2
Total area
3,120 SF
Lot
0.95 ac (41,382 SF)
Zoning code
26
APN
27043000404800
UPID
US90-1571153
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
26 · Edmonds, WA
Zoning 26 · permitted uses
26 · Edmonds, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Edmonds. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1985
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Lot
0.95 ac
Current owner
From public records · entity-resolved
Boo Han Plaza IV LLC
Entity
Free & Clear · 15 yrs held
Mailing address
3880 STEILACOOM BLVD SW, LAKEWOOD, WA 98499-4582
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 26, 2010
$842
Boo Han Plaza IV LLC
Han,boo N & Bang K
Warranty Deed
related
—
Feb 1, 1993
$1,000,000
Boo Nam Bang Kang Han
Unknown
Grant Deed
—
—
—
Boo N Han
—
Deed Of Trust
related
$2,825,000 · Key Bank NA
—
—
Boo N Han
—
Deed Of Trust
related
—
—
—
Boo N Han
—
Deed Of Trust
related
$691,589 · Heritage Savings Bank Fsb
—
—
Boo Han Plaza IV LLC
—
Deed Of Trust
related
—
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.
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?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
