New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Office buildings
40 2nd SE Ave, Issaquah, WA 98027-3452
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-3198526
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1963
Construction
WOOD
Total area
2,660 SF
Lot
0.2 ac (8,928 SF)
Zoning code
MF-H
APN
235430-0720
UPID
US90-3198526
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
$1.24M
CAP Approach
CAP
$950k
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$1.19M
Owner & transaction history
2nd And Sunset LLC · 4 yrs held
2nd And Sunset LLC
since 2021
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
MF-H · Issaquah, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+16.0%
Auto repair, garage
$1.2M
+4.5%
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 Issaquah submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Issaquah 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
$1,085,000
ML approach
$1,235,000
CAP Approach
CAP Return
Estimation
6%
$1,030,000
6.5%
$950,000
7%
$885,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,170,000
Current use
COMMERCIAL (GENERAL)
$1,355,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,220,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$1,050,000
Change: -10% · Conversion: Easy
RETAIL STORES
$1,045,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±10% · vs last sale $1.35M (Sep 23 2021)
Last sale anchor
$1.35M
Sep 23 2021
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
$445 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$6,068
Tax year 2022
Assessed value
$798,000
Assessed 2022
Previous assessed
$798,000
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$714,200
Assessed improvement
$83,800
Land market value
$714,200
Improvement market value
$83,800
Total market value
$798,000
Applied tax rate
1,405.0000
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
OFFICE BUILDING
Status
Off-Market
Year built
1963
Construction
WOOD
Heating
ELECTRIC
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
2,660 SF
Lot
0.2 ac (8,928 SF)
Zoning code
MF-H
APN
235430-0720
UPID
US90-3198526
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MF-H · Issaquah, WA
Zoning MF-H · permitted uses
MF-H · Issaquah, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Issaquah. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1963
Construction
WOOD
Heating
ELECTRIC
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.2 ac
Current owner
From public records · entity-resolved
2nd And Sunset LLC
Entity
Mailing address
PO BOX 1009, SUMNER, WA 98390-0190
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2022
—
2nd And Sunset LLC
—
Deed
related
$2,382,100 · Savibank
Sep 23, 2021
$1,350,000
2nd And Sunset LLC
40 2nd Avenue LLC
Warranty Deed
$2,382,100 · Savibank
Sep 21, 2017
—
40 2nd Avenue LLC
Galloway,rory L & Leslie W
Quit Claim Deed
related
—
May 1, 2008
$700,000
Rory L Galloway
Joseph L Frauenheim
Warranty Deed
$417,000 · Wells Fargo Bank NA
Apr 9, 2004
—
Joseph L Frauenheim
Issaquah City (wa)
Grant Deed
$260,000 · First Mutual Bank
May 30, 2003
—
Issaquah City (wa)
Lindsay,douglas W & Elizabeth E
Grant Deed
related
—
Nov 14, 1988
$80,000
Douglas W&elizabeth Lindsay
Lindsay,mary L
Grant Deed
related
$75,200 · Seller
—
—
Douglas W Lindsay
—
Deed Of Trust
related
$70,000 · Washington Mutual Fsb
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 40 2nd SE Ave?
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.
