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Property profile & analytics
FOR SALE
Manufacturing properties
411 Highbank Rd Sultan, WA 98294
Individually Owned
1-yr Hold
Free & Clear
Property ID
US90-1843712
For Sale
1 / 7
$875,000
411 Highbank Rd, Sultan, WA 98294
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
FOUNDRY, INDUSTRIAL PLANT
Year built
2003
Construction
WOOD
Total area
2,080 SF
Lot
1.06 ac (46,174 SF)
Zoning code
V1
APN
28083300301500
UPID
US90-1843712
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
$585k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$605k
Owner & transaction history
Neal Markley · 1 yrs held
Neal Markley
since 2025
Last sale
$600,000
5 recorded transactions
Zoning & alternative use
V1 · Sultan, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$900,000
+71.1%
Medical building
$810,000
+54.0%
Office building
$740,000
+40.6%
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 Sultan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sultan 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
$630,000
ML approach
$585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$525,000
Current use
AUTO REPAIR, GARAGE
$900,000
Change: +71% · Conversion: Easy
MEDICAL BUILDING
$810,000
Change: +54% · Conversion: Difficult
OFFICE BUILDING
$740,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$630,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$605,000
Change: +15% · Conversion: Moderate
WAREHOUSE, STORAGE
$600,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$605k
Range $545k – $666k · ±10% · vs last sale $600k (Jun 2 2023)
Last sale anchor
$600k
Jun 2 2023
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
$291 / 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
$4,429
Tax year 2023
Assessed value
$535,000
Assessed 2023
Previous assessed
$490,900
+9.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$247,200
Assessed improvement
$287,800
Land market value
$247,200
Improvement market value
$287,800
Total market value
$535,000
Applied tax rate
805.0000
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
Manufacturing properties
Use group
FOUNDRY, INDUSTRIAL PLANT
Status
For Sale
Year built
2003
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
2
Stories
2
Total area
2,080 SF
Lot
1.06 ac (46,174 SF)
Zoning code
V1
APN
28083300301500
UPID
US90-1843712
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
V1 · Sultan, WA
Zoning V1 · permitted uses
V1 · Sultan, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sultan. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$525,000
AUTO REPAIR, GARAGE
Est. value
$900,000
MEDICAL BUILDING
Est. value
$810,000
OFFICE BUILDING
Est. value
$740,000
COMMERCIAL (GENERAL)
Est. value
$630,000
RETAIL STORES
Est. value
$605,000
WAREHOUSE, STORAGE
Est. value
$600,000
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2003
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Lot
1.06 ac
Current owner
From public records · entity-resolved
Neal Markley
Individual
Free & Clear · 1 yrs held
Mailing address
2317 TWIN PL, ANACORTES, WA 98221-3134
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2025
—
Neal Markley
Neal Markley
Deed
related
—
Jun 2, 2023
$600,000
Neal Markley
Breckenridge Family Enterprises LLC
Warranty Deed
$475,000 · Breckenridge Family Enterprises LLC
Jun 2, 2023
—
Jacob Markley
Lesly Markley
Intrafamily Transfer
related
—
Mar 4, 1996
$83,000
John Breckenridge
Cloninger,a J & Esther R
Grant Deed
$53,000 · Seller
Apr 1, 1990
$47,000
A J Cloninger JR.
Unknown
Grant Deed
—
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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