Realmo Analytics

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Property profile

2758 78Th Ave SE Mercer Island, WA 98040

FOR LEASE
Other investment properties
Property ID
US90-3261321
217,375 SF 2.25 ac lot Built 2005
Last sale Jul 2008 · $112,084,900
Entity Owned Owner of record is a legal entity (LLC / corporation). 18-yr Hold Held for 18 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

The property is a ground-level retail space within the Island Square building in downtown Mercer Island. It has 5,105 square feet of retail area and is served by customer parking available in the building’s garage for access to the storefront. The building is within walking distance of the Mercer Island light rail station, which provides service to Bellevue and Seattle. The Island Square building includes a mix of current tenants such as Columbia Bank, Island Animal Hospital, Just Poke, and Einstein Bros. Bagels.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2022

What does the county charge?
$760k
Tax billed · 2022
Assessed value$124.06M
Assessed land$20.59M
Assessed improvement$103.47M
Effective rate0.61%

Value estimate

· Oct 2026
$31.39M
$28.25M – $34.53M
Submarket $/SF estimate$37.67M
NOI build-up
Gross scheduled income$135k
Vacancy & credit loss−$4k
Operating expenses−$39k
NOI · 202,937.78% cap applied$91k

Realmo valuation models over county records and 3 qualifying comparable sales.

Recently sold

What actually traded nearby?
$510/SF
County average, outlier-cleaned · 433 recorded sales of this use type
Observed band · Q1–Q3$200 – $973
Qualifying comparables3

Cap rate analysis

How does the asset earn?
202,937.78%
$91k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
TC
To implement the land use policies of the Mercer Island comprehensive plan for the area referred to as the Town Center.
General categoryUNKNOWN
JurisdictionKING

Location intelligence

Which uses thrive at this corner?
Best fit: Clothing Store
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Clothing Store9.6
Auto Repair Shop9.4
Garden Center9.3

Location

2758 78Th Ave SE Mercer Island, WA 98040
County assessor Recorded deeds · 6 transfers 3 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 properties nearby
Recent sales nearby
No comparable recorded sale in this ZIP
No comparable recorded sale in this ZIP. Our records hold no sale here we could set beside this property for the last 8 years. They are neighbours, not transactions.
Comparable nearby
6 properties of the same type nearby
Research This Page with AI

Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

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