Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Assisted living facilities
3701 188th SW St Lynnwood, WA 98037-7626
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-0285313
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1987
Construction
WOOD
Total area
49,176 SF
Lot
2.88 ac (125,453 SF)
Zoning code
LD
APN
27041500206200
UPID
US90-0285313
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
-
Phyllis Nursing Home
-
Jaclyn Bariletto Physician
-
Alderwood Post Acute & Rehabilitation Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$725k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$978k
Blend (final)
Blend
$850k
Owner & transaction history
Hcr III Healthcare LLC · 3 yrs held
Hcr III Healthcare LLC
since 2023
6 recorded transactions
Zoning & alternative use
LD · 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
$725,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$1,390,000
Current use
Blend value · Realmo final
$850k
Range $765k – $935k · ±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
$17 / 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
$2,859
Tax year 2023
Assessed value
$7,554,900
Assessed 2023
Previous assessed
$6,868,800
+10.0% YoY
Effective rate
0.04%
On assessed value
Assessed land
$3,714,500
Assessed improvement
$3,840,400
Land market value
$3,714,500
Improvement market value
$3,840,400
Total market value
$7,554,900
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1987
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
2
Total area
49,176 SF
Lot
2.88 ac (125,453 SF)
Zoning code
LD
APN
27041500206200
UPID
US90-0285313
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LD · Lynnwood, WAZoning LD · permitted uses
LD · Lynnwood, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$1.4M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
1987
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Lot
2.88 ac
Current owner
From public records · entity-resolved
Hcr III Healthcare LLC
Entity
Free & Clear · 3 yrs held
Ownership since
2023
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
Apr 28, 2023
—
Hcr III Healthcare LLC
Well Pm Properties LLC
Release/satis. Of Agrem. Of Sale (leasehold)
related
—
Dec 28, 2022
—
3701 188th Street Wa Owner LLC
Well Pm Properties LLC
Warranty Deed
—
Jan 9, 2017
—
Hcp Properties LP
—
Deed
related
$750,000 · Barclays Bk/plc
Dec 31, 2007
—
Manor Care Of Meadow Park Propertie
Manor Care Of Meadow Park INC
Special Warranty Deed
$300,000,000 · Jpmorgan Chase Bank NA
—
—
Hcp Properties LP
—
Deed Of Trust
related
$750,000 · Wilmington Tr
—
—
Hcp Properties LP
—
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
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 3701 188th SW St?
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.
