Back to Search
Property profile & analytics
FOR SALE
Retail space
23931 Highway 99 101 Edmonds, WA 98026
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-3122737
For Sale
1 / 10
$805,000
23931 Highway 99,Unit 101, Edmonds, WA 98026
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1944
Construction
WOOD
Total area
3,418 SF
Lot
0.39 ac (16,988 SF)
Zoning code
CG
APN
451900201504
UPID
US90-3122737
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
Current use
Occupant on record · 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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$740k
Comparable Approach
Comparable
$637k
Blend (final)
Blend
$805k
Owner & transaction history
Ari Holdings LLC · 9 yrs held
Ari Holdings LLC
since 2017
6 recorded transactions
Zoning & alternative use
CG · Edmonds, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
District is to encourage economic vitality through businesses, investment, redevelopment, and efficient use of land
Zone name
General Commercial
General category
COMMERCIAL
Zone area
309.45 ac
Source
Realmo
Top alternative use upside
Medical building
$1.3M
+34.1%
Office building
$1.3M
+33.0%
Commercial (general)
$1.0M
+4.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$805,000
6.5%
$740,000
7%
$690,000
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
Blend value · Realmo final
$805k
Range $725k – $886k · ±10%
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
$236 / 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
$9,992
Tax year 2023
Assessed value
$1,468,000
Assessed 2023
Previous assessed
$1,450,000
+1.2% YoY
Effective rate
0.68%
On assessed value
Assessed land
$707,700
Assessed improvement
$760,300
Land market value
$707,700
Improvement market value
$760,300
Total market value
$1,468,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1944
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
1
Total area
3,418 SF
Lot
0.39 ac (16,988 SF)
Zoning code
CG
APN
451900201504
UPID
US90-3122737
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
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
District is to encourage economic vitality through businesses, investment, redevelopment, and efficient use of land
Zone name
General Commercial
General category
COMMERCIAL
Zone area
309.45 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$995,000
MEDICAL BUILDING
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$985,000
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1944
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Ari Holdings LLC
Entity
Mailing address
147 NE 164TH ST, SHORELINE, WA 98155-5735
Ownership since
2017
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
Apr 18, 2022
—
Ari Holdings LLC
—
Deed
related
$1,361,000 · Us Bank NA
Mar 27, 2017
$1,450,000
Ari Holdings LLC
Seapac LLC
Warranty Deed
$200,000 · Seapac LLC
Aug 1, 2008
$1,250,000
Seapac LLC
Kim,yong H & Connie C
Warranty Deed
—
Aug 4, 2003
$1,150,000
Yong H Kim
Medawar,samir H & Theresa R
Grant Deed
—
Jun 1, 1988
$368,000
—
—
Grant Deed
related
$368,000 · Frontier Bk (wa)
—
—
Yong H Kim
—
Deed Of Trust
related
$920,000 · Centerbank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
