Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23931 Highway 99, Unit 102 Edmonds, WA 98026

    • Retail space
    • 3,418 SF
    • 0.39 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3122737
    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

    • Shoreline Academy of Music & Dance / Vocational School / Training Center
    • Communities of Color Coalition (C3) / Physician
    • Tramp Stamp Fit / Gym & Fitness Center
    • Haley Shadoan / Physician

    Property Details for 23931 Highway 99

    Year built
    1944
    Construction
    WOOD
    Lot size
    0.39 lot acres
    Property size
    3,418 SF
    Zone code
    CG
    Property type
    Retail space
    APN
    451900201504
    APU
    451900201504

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $805,000
      6.5%
      $740,000
      7%
      $690,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $636,000
      Market price range: $141k - $778k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $995,000
      Current use
      MEDICAL BUILDING
      $1,335,000
      Change: +34% Conversion: Difficult
      OFFICE BUILDING
      $1,325,000
      Change: +33% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,035,000
      Change: +4% Conversion: Easy
      WAREHOUSE, STORAGE
      $985,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Edmonds
    County
    Snohomish
    State
    Washington
    Longitude
    -122.344
    Latitude
    47.7817
    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
    $9,992
    $707,700
    $760,300
    $1,468,000
    -
    $707,700
    $760,300
    $1,468,000

    Comparable in this City

    • 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
    • Value Estimation
      $1,205,000
      10,771 SF

      22800 76th W Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,771 SF
      22800 76th W Ave, Edmonds, WA 98026-8400
      View Details
    • Value Estimation by Request
      1,100 SF

      22319 76th W Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,100 SF
      22319 76th W Ave, Edmonds, WA 98026-7911
      View Details
    • Value Estimation
      $2,300,000
      13,774 SF

      7212 220th SW St

      RETAIL STORES (PERSONAL SERVICES) • 13,774 SF
      7212 220th SW St, Edmonds, WA 98026-8014
      View Details
    • Value Estimation
      $4,185,000
      19,379 SF

      22315 Hwy 99

      RETAIL STORES (PERSONAL SERVICES) • 19,379 SF
      22315 Hwy 99, Edmonds, WA 98026-8003
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Open Commercial Office/Retail Space

      Versatile space ideal for office, studio, or fitness use.
      23931 Highway 99, Edmonds, WA 98026
      View Details
    • Contact for pricing

      Commercial Office/Retail Space Available

      Open commercial space suitable for office, retail, or studio use.
      23931 Highway 99, Edmonds, WA 98026
      View Details
    • Contact for pricing

      Versatile Commercial Space on Highway 99

      Open commercial space suitable for office, retail, fitness, and more.
      23931 Highway 99, Edmonds, WA 98026
      View Details
    • Contact for pricing

      Panoramic View Lot with Remodeled Mobile Home

      Exceptional lot with remodeled mobile home and panoramic sound views.
      12603 Possession Ln, Edmonds, WA 98026
      View Details
    • $1,800,000

      Edmonds Medical Office Building For Sale

      Class A medical office building in Edmonds medical district.
      21906 76Th Ave W, Edmonds, WA 98026
      View Details
    • Contact for pricing
      Pending

      Edmonds Way Commercial Development Site

      Commercial land in Edmonds with existing building and development potential.
      23631 Edmonds Way, Edmonds, WA 98026
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,760 SF

      Retail/Office Space on Hwy 99

      Retail or office space with high visibility and easy transit.
      22921-22937 Highway 99 N, Edmonds, WA 98026
      View Details
    • Contact for pricing
      7,375 SF

      Retail Space on Highway 99

      Modern retail spaces with high visibility and ample parking.
      22315 Highway 99 N, Edmonds, WA 98026
      View Details
    • $900 /Mo
      325 SF

      Open Commercial Office/Retail Space

      325 RSF space suitable for office, retail, or studio.
      23931 Highway 99, Edmonds, WA 98026
      View Details
    • $5,867 /Mo
      1,760 SF

      Edmonds Retail Space on Highway

      Retail space with high visibility and adaptable sizing.
      22921 Highway 99 N, Edmonds, WA 98026
      View Details
    • $3,769 /Mo
      1,005 SF

      Prime Retail Corner in Edmonds

      Retail space with excellent visibility and access on Highway 99.
      21920 Highway 99, Edmonds, WA 98026
      View Details
    • $3,383 /Mo
      2,900 SF

      Highway 99 Retail/Office Space

      Retail/office space with high visibility and easy transit access.
      22921 Highway 99 N, Edmonds, WA 98026
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23931 Highway 99, Unit 102
    Edmonds, WA 98026
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!