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Property profile & analytics
OFF-MARKET
Estimated value
$1,915,000
Office buildings
23611 Hwy 99 Edmonds, WA 98026
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1761323
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.15M
Blend (final)
Blend
$1.92M
Owner & transaction history
234 Edmonds Jcv LLC · 5 yrs held
234 Edmonds Jcv LLC
since 2021
Last sale
$1.6M
6 recorded transactions
Zoning & alternative use
CG · 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
$2,145,000
ML approach
$2,165,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.92M
Range $1.72M – $2.11M · ±10% · vs last sale $1.55M (Mar 22 2021)
Last sale anchor
$1.55M
Mar 22 2021
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
$121 / 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
$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
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
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, WA
Zoning CG · permitted uses
CG · 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.
Building & site characteristics
From public records
Year built
1979
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
0.6 ac
Current owner
From public records · entity-resolved
234 Edmonds Jcv LLC
Entity
Mailing address
2442 NW MARKET ST #562, SEATTLE, WA 98107-4137
Ownership since
2021
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
Mar 22, 2021
$1,550,000
234 Edmonds Jcv LLC
234 Edmonds Jtm LLC
Bargain And Sale Deed
$803,250 · D2 Commercial Lending LLC
Sep 25, 2018
$3,950,000
234 Edmonds Jtm LLC
M&m Rafizadeh Family Ltd
Warranty Deed
$2,920,000 · First Interstate Bank
Mar 1, 2017
$3,000,000
M & M Rafizadeh Family Ltd
Flugstad Land Holding Co LLC
Warranty Deed
—
Oct 16, 1998
$1,875,000
Flugstad Land Holding Co
Dipangrazio Trust
Grant Deed
$900,000 · Standard Mortgage Investors
—
—
Flugstad Land Holding Co LLC
—
Deed Of Trust
related
$538,386 · Mountain Pacific Bank
—
—
Flugstad Land Holding Co
—
Deed Of Trust
related
$500,000 · Shoreline 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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