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    Property profile & analytics

    23028 27th SE Ave Bothell, WA 98021-7874

    • Apartment buildings
    • 221,381 SF
    • 29.11 lot acres
    OFF-MARKET
    Last Sale
    Oct 16, 2024
    $92,870,980
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1215333
    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.

    Current Use by Public Records

    • Stonemeadow Farms / Real Estate Agency

    Property Details for 23028 27th SE Ave

    Year built
    1998
    Construction
    WOOD
    Lot size
    29.11 lot acres
    Property size
    221,381 SF
    Zone code
    R 4,000
    Property type
    Apartment buildings
    APN
    27053200200100
    APU
    27053200200100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market
      ML approach
      Off market

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $126,719,000
      Market price range: $66.2M - $156M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $91,555,000
      Current use
      OFFICE BUILDING
      $133,640,000
      Change: +46% Conversion: Moderate
      RESTAURANT
      $114,730,000
      Change: +25% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $96,050,000
      Change: +5% Conversion: Difficult
      MEDICAL BUILDING
      $86,435,000
      Change: -6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Bothell
    County
    Snohomish
    State
    Washington
    Longitude
    -122.199
    Latitude
    47.7896
    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
    $621,394
    $23,088,100
    $56,296,900
    $79,385,000
    -
    $23,088,100
    $56,296,900
    $79,385,000

    Comparable in this City

    • Value Estimation
      $22,965,000
      116,465 SF

      2207 227th SE St

      APARTMENT HOUSE (100+ UNITS) • 116,465 SF
      2207 227th SE St, Bothell, WA 98021-7216
      View Details
    • Value Estimation
      $40,890,000
      211,660 SF

      1630 228th SE St

      APARTMENT HOUSE (100+ UNITS) • 211,660 SF
      1630 228th SE St, Bothell, WA 98021-7428
      View Details
    • Value Estimation by Request
      343,095 SF

      23940 40th SE Dr

      APARTMENT HOUSE (100+ UNITS) • 343,095 SF
      23940 40th SE Dr, Bothell, WA 98021-7722
      View Details
    • Value Estimation
      $33,810,000
      189,700 SF

      1602 214th SE St

      APARTMENT HOUSE (100+ UNITS) • 189,700 SF
      1602 214th SE St, Bothell, WA 98021
      View Details
    • Value Estimation by Request
      3,724 SF

      22819 15Th Ave

      Multifamily properties • 3,724 SF
      22819 15Th Ave, Bothell, WA 98021
      View Details
    • Value Estimation
      $3,450,000
      35,524 SF

      2129 Maltby Rd

      APARTMENT HOUSE (100+ UNITS) • 35,524 SF
      2129 Maltby Rd, Bothell, WA 98021-7455
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      33,526 SF

      Bothell Office Space For Lease

      33,526 SF office space available for lease in Bothell.
      3700 Monte Villa Pkwy, Bothell, WA 98021
      View Details
    • $20 SF/Yr
      690 SF

      Bothell Stand-Alone Office/Retail Building

      Stand-alone Bothell office/retail building with drive-thru access for lease.
      23920 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • $10,032 /Mo
      5,472 SF

      Bothell Office Space Available Soon

      Office space available in 90 days near University of Washington.
      2525 220Th St SE, Bothell, WA 98021
      View Details
    • Contact for pricing
      5,495 SF

      Bothell Turn-Key Office Space

      Turn-key office space available for rent in Bothell, Washington.
      3350 Monte Villa Pkwy, Bothell, WA 98021
      View Details
    • Contact for pricing
      12,294 SF

      Bothell Office Space Available

      Office space available for rent in Bothell, Washington.
      21222 30Th Dr Southeast, Bothell, WA 98021
      View Details
    • Contact for pricing
      90,899 SF

      Lakeside Shopping Center Opportunity

      Prime Bothell retail space, high traffic location.
      24040 Bothell Everett Hwy, Bothell, WA 98021
      View Details
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    Bothell, WA 98021-7874
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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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