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    Property profile & analytics

    23830 Hwy 99 Edmonds, WA 98026-9209

    • Retail space
    • 27,158 SF
    • 1.95 lot acres
    OFF-MARKET
    Value Estimations
    $3,685,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3350440
    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

    • China Spa / Alternative Medicine Practice / Spa & Massage Center
    • Lewis Heating & Air Conditioning / HVAC Service / General Contractor
    • Ledo nails / Nail Salon
    • amy spa / Alternative Medicine Practice / Spa & Massage Center
    • Dumpling Generation / Restaurant

    Property Details for 23830 Hwy 99

    Year built
    1962
    Construction
    WOOD
    Lot size
    1.95 lot acres
    Property size
    27,158 SF
    Zone code
    E2
    Property type
    Retail space
    APN
    451900200700
    APU
    451900200700

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,325,000
      Market price range: $1.12M - $6.18M

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

    Location Insight

    • Map
    • Local Demand
    City
    Edmonds
    County
    Snohomish
    State
    Washington
    Longitude
    -122.345
    Latitude
    47.7828
    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
    $36,463
    $2,829,400
    $2,531,600
    $5,361,000
    -
    $2,829,400
    $2,531,600
    $5,361,000

    Comparable in this City

    • Value Estimation by Request
      967 SF

      7629 Lk Ballinger Way

      RETAIL STORES (PERSONAL SERVICES) • 967 SF
      7629 Lk Ballinger Way, Edmonds, WA 98026-9162
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    • Value Estimation
      $510,000
      3,282 SF

      8410 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,282 SF
      8410 Main St, Edmonds, WA 98026-6913
      View Details
    • Value Estimation
      $4,250,000
      6,189 SF

      21940 Hwy 99

      RETAIL STORES (PERSONAL SERVICES) • 6,189 SF
      21940 Hwy 99, Edmonds, WA 98026-8038
      View Details
    • Value Estimation
      $680,000
      4,000 SF

      21110 76th W Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      21110 76th W Ave, Edmonds, WA 98026-7169
      View Details
    • Value Estimation
      $1,000,000
      7,328 SF

      22611 76th W Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,328 SF
      22611 76th W Ave, Edmonds, WA 98026-8306
      View Details
    • Value Estimation
      $1,520,000
      9,668 SF

      21920 76th W Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,668 SF
      21920 76th W Ave, Edmonds, WA 98026-7980
      View Details

    Similar Nearby for Sale

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      Versatile Commercial Space on Highway 99

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      Established Hair Salon Opportunity

      Hair salon for sale with equipment and remodel included.
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      Commercial Office/Retail Space Available

      Open commercial space suitable for office, retail, or studio use.
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      Open Commercial Office/Retail Space

      Versatile space ideal for office, studio, or fitness use.
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    Similar Nearby for Lease

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      Modern retail spaces with high visibility and ample parking.
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      Retail or office space with high visibility and easy transit.
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      Edmonds Retail Space on Highway

      Retail space with high visibility and adaptable sizing.
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      Highway 99 Commercial Space Available

      Modern, remodeled commercial space with high traffic exposure on Highway 99.
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      Retail Space in Edmonds, WA

      Retail space available in Edmonds, near Seattle and Everett.
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      Highway 99 Retail/Office Space

      Retail/office space with high visibility and easy transit access.
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      View Details

    Property Visit Statistics

    • Visits by month
      1.6k
    • Visitors by month
      1.8k
    • Avg Time on site
      46 min
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    23830 Hwy 99
    Edmonds, WA 98026-9209
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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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