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Property profile & analytics
OFF-MARKET
Estimated value
$3,175,000
Commercial land
303 91st NE Ave Lake Stevens, WA 98258-2541
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-0754681
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1993
Total area
14,366 SF
Lot
5.49 ac (239,144 SF)
Zoning code
SRC
APN
804000000102
UPID
US90-0754681
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.05M
Comparable Approach
Comparable
$3.26M
Blend (final)
Blend
$3.18M
Owner & transaction history
Lake Stevens Grf2 LLC · 10 yrs held
Lake Stevens Grf2 LLC
since 2016
6 recorded transactions
Zoning & alternative use
SRC · Lake Stevens, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.1M
+49.2%
Office building
$4.9M
+43.3%
Retail stores
$4.7M
+37.7%
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 Lake Stevens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Stevens 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%
$3,305,000
6.5%
$3,050,000
7%
$2,830,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,385,000
Current use
AUTO REPAIR, GARAGE
$5,055,000
Change: +49% · Conversion: Difficult
OFFICE BUILDING
$4,855,000
Change: +43% · Conversion: Easy
RETAIL STORES
$4,665,000
Change: +38% · Conversion: Easy
WAREHOUSE, STORAGE
$4,440,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$3.18M
Range $2.86M – $3.49M · ±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
$221 / 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
$77,033
Tax year 2023
Assessed value
$6,138,600
Assessed 2023
Previous assessed
$8,583,200
-28.5% YoY
Effective rate
1.25%
On assessed value
Assessed land
$6,138,600
Land market value
$6,138,600
Total market value
$6,138,600
Applied tax rate
408.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1993
Heating
HEAT PUMP
Stories
1
Total area
14,366 SF
Lot
5.49 ac (239,144 SF)
Zoning code
SRC
APN
804000000102
UPID
US90-0754681
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SRC · Lake Stevens, WA
Zoning SRC · permitted uses
SRC · Lake Stevens, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Stevens. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$5.1M
OFFICE BUILDING
Est. value
$4.9M
RETAIL STORES
Est. value
$4.7M
WAREHOUSE, STORAGE
Est. value
$4.4M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1993
Heating
HEAT PUMP
Stories
1
Lot
5.49 ac
Current owner
From public records · entity-resolved
Lake Stevens Grf2 LLC
Entity
Mailing address
973 LOMAS SANTA FE DR, SOLANA BEACH, CA 92075-2137
Ownership since
2016
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
Feb 16, 2017
—
Lake Stevens Grf2 LLC
—
Loan Modification
related
$13,325,000 · Bank Of America
Jun 16, 2016
$17,500,000
Lake Stevens Grf2 LLC
Lake Stevens Marketplace LLC
Grant Deed
—
May 22, 2003
$13,607,978
Twin Falla Properties LLC
Wesbild Lsm INC
Grant Deed
$9,000,000 · Key Bank NA
Oct 1, 1992
$2,320,076
—
—
Grant Deed
related
—
—
—
Lake Stevens Marketplace LLC
—
Deed Of Trust
related
$8,000,652 · Health Asset Realty LP
—
—
Lake Stevens Grf2 LLC
—
Loan Modification
related
—
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.
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