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    3701 188th SW St Lynnwood, WA 98037-7626
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    Property profile & analytics

    3701 188th SW St, Lynnwood, WA 98037-7626

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    • Assisted living facilities
    • 49,176 SF
    • 2.88 lot acres
    Off-Market
    Last Sale Apr 28, 2023
    Property ID
    US90-0285313
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $850,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Phyllis / Nursing Home
    • Jaclyn Bariletto / Physician
    • Alderwood Post Acute & Rehabilitation / Nursing Home

    Property Details for 3701 188th SW St

    Year built
    1987
    Construction
    WOOD
    Lot size
    2.88 lot acres
    Zone code
    LD
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    27041500206200
    APU
    27041500206200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $725,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $978,000
      Market price range: $769k - $2.88M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $1,390,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lynnwood
    County
    Snohomish
    State
    Washington
    Longitude
    -122.284
    Latitude
    47.8288
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,859
    $3,714,500
    $3,840,400
    $7,554,900
    -
    $3,714,500
    $3,840,400
    $7,554,900

    Comparable in this City

    • Value Estimation
      $820,000
      27,392 SF

      18706 36th W Ave

      HOMES (RETIRED, NURSING)
      18706 36th W Ave, Lynnwood, WA 98037-7606
      View Details
    • Value Estimation
      $925,000
      25,684 SF

      18700 44th W Ave

      HOMES (RETIRED, NURSING)
      18700 44th W Ave, Lynnwood, WA 98037-4634
      View Details
    • Value Estimation
      $990,000
      35,891 SF

      18619 60th W Ave

      HOMES (RETIRED, NURSING)
      18619 60th W Ave, Lynnwood, WA 98037-4300
      View Details
    • Value Estimation by Request
      0.72 Acres

      Lynnwood, WA 98037

      HOMES (RETIRED, NURSING)
      Lynnwood, WA 98037
      View Details
    • Value Estimation
      $835,000
      27,875 SF

      5821 188th SW St

      HOMES (RETIRED, NURSING)
      5821 188th SW St, Lynnwood, WA 98037-4304
      View Details
    • Value Estimation
      $980,000
      4,345 SF

      16429 7th W Pl

      MEDICAL BUILDING
      16429 7th W Pl, Lynnwood, WA 98037-8105
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Well-maintained mobile home park with income potential in Lynnwood, WA.
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      Freestanding Restaurant Pad Near Mall

      Freestanding, remodeled restaurant pad with a 15-year lease.
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      Lynnwood Commercial Property For Sale

      Commercial property in Lynnwood with recent updates and ample space.
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      Office Suites Available for Lease

      Office suites available in Edmonds/Lynnwood submarket.
      3405 188Th St SW, Lynnwood, WA 98037
      View Details
    • Contact for pricing

      Land For Sale Lynnwood

      Land available for sale in Lynnwood, Washington.
      16431 20Th Ave W, Lynnwood, WA 98037
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    • Contact for pricing

      Lynnwood Mobile Home Park

      Well-maintained mobile home park with additional income opportunities.
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    Similar Nearby for Lease

    • $6,620 /Mo
      3,175 SF

      Lynnwood Commercial Space Available

      Commercial space available for rent in Lynnwood, Washington.
      3405 188Th St SW, Lynnwood, WA 98037
      View Details
    • Contact for pricing
      2,763 SF

      Highway 99 Retail/Office Endcap

      Renovated retail/office space with high exposure and flexible layout.
      18023 Highway 99, Lynnwood, WA 98037
      View Details
    • $10,053 /Mo
      4,810 SF

      Restaurant Space Ready to Open

      Former full-service restaurant space available for rent.
      18623 Highway 99, Lynnwood, WA 98037
      View Details
    • Contact for pricing
      1,792 SF

      Lynnwood Office Space Available

      Office space for lease in Lynnwood, Washington, 1792 square feet.
      17414 Highway 99, Lynnwood, WA 98037
      View Details
    • Contact for pricing
      2,506 SF

      Retail Space in Lynnwood

      Retail space available for lease in Lynnwood, Washington.
      18505 Alderwood Mall Pkwy, Lynnwood, WA 98037
      View Details
    • Contact for pricing
      1,435 SF

      Highway 99 Office Space Available

      Move-in ready office space with high visibility and access.
      17602 Highway 99, Lynnwood, WA 98037
      View Details
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    Lynnwood, WA 98037-7626
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    3701 188th SW St, Lynnwood, WA, 98037
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