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Property profile & analytics
OFF-MARKET
Estimated value
$24,220,000
Office buildings
3400 188th SW St Lynnwood, WA 98037-4747
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-0404755
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1986
Construction
STEEL FRAME
Total area
103,604 SF
Lot
9.67 ac (421,225 SF)
Zoning code
BTP
APN
372600200101
UPID
US90-0404755
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
-
ARITEX USA Production Facility
-
Abacus Corporation Accounting Firm Tax Preparation
-
Mike Leen, Loan Officer Loan Service Bank
-
Guild Mortgage - Diana Levchenko Loan Service Bank
-
Mutual of Omaha® Advisors - Lynnwood Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$30.28M
Comparable Approach
Comparable
$19.15M
Blend (final)
Blend
$24.22M
Owner & transaction history
Alaska Electrical Pension Fund · 9 yrs held
Alaska Electrical Pension Fund
since 2016
6 recorded transactions
Zoning & alternative use
BTP · Lynnwood, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lynnwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynnwood 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%
$32,805,000
6.5%
$30,280,000
7%
$28,120,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$35,445,000
Current use
COMMERCIAL (GENERAL)
$31,410,000
Change: -11% · Conversion: Easy
WAREHOUSE, STORAGE
$29,920,000
Change: -16% · Conversion: Difficult
RETAIL STORES
$29,100,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$24.22M
Range $21.80M – $26.64M · ±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
$234 / 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
$287,857
Tax year 2023
Assessed value
$37,573,700
Assessed 2023
Previous assessed
$43,310,800
-13.2% YoY
Effective rate
0.77%
On assessed value
Assessed land
$13,635,300
Assessed improvement
$23,938,400
Land market value
$13,635,300
Improvement market value
$23,938,400
Total market value
$37,573,700
Applied tax rate
452.0000
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
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1986
Construction
STEEL FRAME
Heating
YES
Cooling
NONE
Buildings
2
Stories
6
Total area
103,604 SF
Lot
9.67 ac (421,225 SF)
Zoning code
BTP
APN
372600200101
UPID
US90-0404755
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BTP · Lynnwood, WA
Zoning BTP · permitted uses
BTP · Lynnwood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lynnwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$35.4M
COMMERCIAL (GENERAL)
Est. value
$31.4M
WAREHOUSE, STORAGE
Est. value
$29.9M
RETAIL STORES
Est. value
$29.1M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
RETAIL STORES
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
1986
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
6
Buildings
2
Lot
9.67 ac
Current owner
From public records · entity-resolved
Alaska Electrical Pension Fund
Entity
Free & Clear · 9 yrs held
Mailing address
701 E TUDOR RD STE #135, ANCHORAGE, AK 99503-7459
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Dec 16, 2016
$42,050,000
Alaska Electrical Pension Fund
Eci Three Alderwood LLC
Grant Deed
—
Dec 21, 2007
$45,550,000
Eci Three Alderwood LLC
Rreef America Reit II Corp
Warranty Deed
—
Oct 23, 2003
$27,548,596
Rreef America Reit II Corp
Fisher Properties INC
Grant Deed
related
—
Aug 1, 1984
$2,259,932
—
—
Grant Deed
related
—
—
—
Eci Three Alderwood LLC
—
Deed Of Trust
related
—
—
—
Eci Three Alderwood LLC
—
Deed Of Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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