New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,640,000
Office buildings
2737 78th SE Ave, Mercer Island, WA 98040-2843
Entity Owned
27-yr Hold
~
Est. High Equity
Property ID
US90-1720388
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1972
Construction
WOOD
Total area
14,766 SF
Lot
0.9 ac (39,311 SF)
Zoning code
TC
APN
531510-1295
UPID
US90-1720388
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
-
Revolution Psychiatric and Addiction Treatment: Richard Repass, MD Physician
-
Staridge Inc Industrial Manufacturer Production Facility
-
Cost Management Services, Inc. Energy Supplier Oil & Natural Gas Company
-
Zhang & Attorneys, L.P. Law Firm
-
Seattle NAD + Revolutionary Medical Therapies | Dr. Richard Repass Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.64M
Owner & transaction history
Continental Building LLC · 27 yrs held
Continental Building LLC
since 1999
5 recorded transactions
Zoning & alternative use
TC · Mercer Island, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$5.8M
+4.8%
Retail stores
$5.8M
+4.1%
Industrial (general)
$5.6M
+1.2%
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 Mercer Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mercer Island 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,565,000
Current use
MEDICAL BUILDING
$5,835,000
Change: +5% · Conversion: Easy
RETAIL STORES
$5,790,000
Change: +4% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$5,630,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,120,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$3.64M
Range $3.28M – $4.00M · ±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
$247 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$48,213
Tax year 2022
Assessed value
$7,863,200
Assessed 2022
Previous assessed
$7,863,200
+0.0% YoY
Effective rate
0.61%
On assessed value
Assessed land
$7,862,200
Assessed improvement
$1,000
Land market value
$7,862,200
Improvement market value
$1,000
Total market value
$7,863,200
Applied tax rate
1,031.0000
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
OFFICE BUILDING
Status
Off-Market
Year built
1972
Construction
WOOD
Heating
GAS
Cooling
AC.PACKAGE
Stories
2
Total area
14,766 SF
Lot
0.9 ac (39,311 SF)
Zoning code
TC
APN
531510-1295
UPID
US90-1720388
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TC · Mercer Island, WA
Zoning TC · permitted uses
TC · Mercer Island, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mercer Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.6M
MEDICAL BUILDING
Est. value
$5.8M
RETAIL STORES
Est. value
$5.8M
INDUSTRIAL (GENERAL)
Est. value
$5.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.1M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1972
Construction
WOOD
Heating
GAS
Cooling
Yes
Stories
2
Lot
0.9 ac
Current owner
From public records · entity-resolved
Continental Building LLC
Entity
Mailing address
2737 78TH AVE SE, MERCER ISLAND, WA 98040-2843
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2017
—
Continental Building LLC
—
Deed
related
$2,550,000 · Jpmorgan Chase Bank NA
May 11, 1999
—
Continental Building LLC
Rocinate Trust
Quit Claim Deed
related
—
Feb 3, 1997
$1,100,000
Rocinante Development Trust
Bank Of America
Grant Deed
—
—
—
Continental Building LLC
—
Deed Of Trust
related
$2,291,250 · Seafirst Bank
—
—
Mark S Ursino
—
Deed Of Trust
related
$78,000 · Security Pacific National 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.
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?”
You own 2737 78th SE Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
