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Property profile & analytics
OFF-MARKET
Estimated value
$1,565,000
Commercial land
23635 Hwy 99 Edmonds, WA 98026-9253
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0288941
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1901
Total area
2,274 SF
Lot
0.72 ac (31,363 SF)
Zoning code
CG
APN
451900100202
UPID
US90-0288941
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
$1.84M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$1.57M
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
Top alternative use upside
Auto repair, garage
$985,000
+43.1%
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
$1,800,000
ML approach
$1,835,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$985,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$1.57M
Range $1.41M – $1.72M · ±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
$688 / 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
$7,317
Tax year 2023
Assessed value
$1,018,500
Assessed 2023
Previous assessed
$752,100
+35.4% YoY
Effective rate
0.72%
On assessed value
Assessed land
$1,018,500
Land market value
$1,018,500
Total market value
$1,018,500
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1901
Heating
FORCED AIR
Stories
1
Bathrooms
1
Total area
2,274 SF
Lot
0.72 ac (31,363 SF)
Zoning code
CG
APN
451900100202
UPID
US90-0288941
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.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$985,000
AUTO REPAIR, GARAGE
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
1901
Heating
FORCED AIR
Stories
1
Bathrooms
1
Lot
0.72 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
—
Jun 15, 2006
—
Loper Family Trust
Loper,bert G & Marcella A
Quit Claim Deed
—
May 1, 2000
$775,000
Lily C Vonderau
Loper Trust
Grant Deed
$410,000 · Preferred Funding
—
—
Flugstad Land Holding Co LLC
—
Deed Of Trust
related
$538,386 · Mountain Pacific 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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