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Property profile & analytics
OFF-MARKET
Estimated value
$1,990,000
Automotive properties
23221 Edmonds Way Edmonds, WA 98026-8627
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1531403
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1950
Construction
WOOD
Total area
4,859 SF
Lot
0.37 ac (16,117 SF)
Zoning code
SJ
APN
555300400901
UPID
US90-1531403
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
Current use
Occupant on record · Public records
-
Local Roots Glass and Goods Garden Center Landscaping
-
PRC Edmonds (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.03M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.82M
Blend (final)
Blend
$1.99M
Owner & transaction history
23221 Holdings LLC · 2 yrs held
23221 Holdings LLC
since 2023
Last sale
$2.0M
6 recorded transactions
Zoning & alternative use
SJ · Edmonds, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,095,000
ML approach
$2,030,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,110,000
Current use
MEDICAL BUILDING
$1,895,000
Change: -10% · Conversion: Difficult
OFFICE BUILDING
$1,880,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.99M
Range $1.79M – $2.19M · ±10% · vs last sale $2.00M (Dec 27 2023)
Last sale anchor
$2.00M
Dec 27 2023
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
$410 / 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
$11,014
Tax year 2023
Assessed value
$1,363,000
Assessed 2023
Previous assessed
$1,262,000
+8.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$844,500
Assessed improvement
$518,500
Land market value
$844,500
Improvement market value
$518,500
Total market value
$1,363,000
Applied tax rate
2,475.0000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1950
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
2
Bathrooms
0
Total area
4,859 SF
Lot
0.37 ac (16,117 SF)
Zoning code
SJ
APN
555300400901
UPID
US90-1531403
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SJ · Edmonds, WA
Zoning SJ · permitted uses
SJ · 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
AUTO REPAIR, GARAGE Current
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.9M
AUTO REPAIR, GARAGE Current
MEDICAL BUILDING
OFFICE 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
1950
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
0
Lot
0.37 ac
Current owner
From public records · entity-resolved
23221 Holdings LLC
Entity
Mailing address
23221 EDMONDS WAY, EDMONDS, WA 98026-8627
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Dec 27, 2023
$2,000,000
23221 Holdings LLC
Kevin B Hendrickson
Warranty Deed
$1,000,000 · Kevin Henderickson
Jul 29, 2015
$1,200,000
Kevin B Hendrickson
Rebecca Vasquez
Warranty Deed
$475,000 · Seattle Funding Group Ltd
Nov 16, 2009
$650,280
Rebecca Vasquez
Lemberg,jacob
Quit Claim Deed
related
—
Sep 5, 2007
—
Jacob Lemberg
Lemberg,jacob
Quit Claim Deed
related
—
Jul 20, 2007
—
Jacob Lemberg
Lemberg Testamentary Trust
Quit Claim Deed
related
—
Jan 24, 1996
—
Michael J Lemberg
Lemberg,margaret L
Quit Claim Deed
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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