Entity Owned Property summary
AI-generated overview
The Sunset Building, located at 23611 Hwy 99 in Edmonds, WA 98026, offers exceptional executive office space for lease. This Class B building, totaling 22,251 square feet, underwent renovations in 2000 and sits on a 1.8-acre lot. The building features three stories and provides ample parking with 82 spaces (a ratio of 3.5 per 1,000 square feet). Modern conveniences include elevators. Currently, 5,189 square feet of space is available, divisible into units ranging from 2,210 to 2,979 contiguous square feet, making it ideal for businesses of various sizes. The building is zoned CG and situated in the CBA Mountlake Terrace submarket of Snohomish County. Built in 1979, The Sunset Building offers a blend of established infrastructure and updated amenities. Its convenient location on Highway 99 provides excellent accessibility. The property is perfect for businesses seeking a well-maintained, functional office space in a desirable Edmonds location. Interested parties should inquire about available lease terms and conditions.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1979
Construction
TYPE NOT SPECIFIED
Total area
15,860 SF
Lot
0.6 ac (26,136 SF)
Zoning code
CG
APN
451900100203
UPID
US90-1761323
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.15M
Blend (final)
Blend
$2.15M
Owner & transaction history
since 2021
Last sale
$1.6M
6 recorded transactions
Zoning & alternative use
CG · Edmonds, WA
Zoning description
District is to encourage economic vitality through businesses, investment, redevelopment, and efficient use of land
General category
COMMERCIAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.15M
Value range
$1.93M – $2.36M
±10% around blend
Estimated value / SF
$135 / SF
Confidence
High
7 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
70
$1.93M
blend $2.15M
$2.36M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
15,860 SF
Lot area
0.6 ac
Year built
1979
Stories
2
APN
451900100203
Zoning
CG
Assessed value
$2,868,000
Annual tax
$20,584
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$5.15M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
6.5 mi away · 12,970 SF
9.3 mi away · 12,180 SF
9.5 mi away · 11,368 SF
11.9 mi away · 12,680 SF
13.8 mi away · 17,352 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.15M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 23 sales
$387
-65%
County 197 sales
$357
-62%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $135/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.55M
Move the market yield to see immediate price impact.
Value / SF
$98
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$98k
$1.95M
$1.39M
$1.09M
$109k
$2.17M
$1.55M
$1.21M
$119k
$2.39M
$1.70M
$1.33M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$3.28M
2.5 mi · Mar 2026 · $275/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$20,584
Tax year 2023
Assessed value
$2,868,000
Assessed 2023
Previous assessed
$2,706,000
+6.0% YoY
Effective rate
0.72%
On assessed value
Assessed land
$978,700
Assessed improvement
$1,889,300
Land market value
$978,700
Improvement market value
$1,889,300
Total market value
$2,868,000
Applied tax rate
217.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1979
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
2
Total area
15,860 SF
Lot
0.6 ac (26,136 SF)
Zoning code
CG
APN
451900100203
UPID
US90-1761323
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CG · Edmonds, WAZoning CG · permitted uses
CG · Edmonds, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
District is to encourage economic vitality through businesses, investment, redevelopment, and efficient use of land
General category
COMMERCIAL
Building & site characteristics
From public records
Year built
1979
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
0.6 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
CG
COMMERCIAL
Jurisdiction
Edmonds, WA
Recorded code
CG
Official district
CG
Official district profile
What the municipal code says about CG
Zoning description
District is to encourage economic vitality through businesses, investment, redevelopment, and efficient use of land
General category
COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CG in Edmonds, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Cited sourceThe exact document the profile quotes
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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