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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Office buildings
500 Alder St Sultan, WA 98294
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-1347132
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1960
Construction
TYPE NOT SPECIFIED
Total area
2,118 SF
Lot
0.43 ac (18,731 SF)
Zoning code
UC
APN
588800501300
UPID
US90-1347132
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
$555k
CAP Approach
CAP
$620k
Comparable Approach
Comparable
$531k
Blend (final)
Blend
$545k
Owner & transaction history
City Of Sultan · 4 yrs held
City Of Sultan
since 2022
Last sale
$480,000
1 recorded transaction
Zoning & alternative use
UC · Sultan, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$825,000
+9.5%
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 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
$610,000
ML approach
$555,000
CAP Approach
CAP Return
Estimation
6%
$670,000
6.5%
$620,000
7%
$575,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$755,000
Current use
MEDICAL BUILDING
$825,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$640,000
Change: -15% · Conversion: Easy
RETAIL STORES
$615,000
Change: -18% · Conversion: Moderate
WAREHOUSE, STORAGE
$610,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±10% · vs last sale $480k (Feb 15 2022)
Last sale anchor
$480k
Feb 15 2022
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
$257 / 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
Assessed value
$340,700
Assessed 2023
Previous assessed
$256,300
+32.9% YoY
Assessed land
$185,600
Assessed improvement
$155,100
Land market value
$185,600
Improvement market value
$155,100
Total market value
$340,700
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1960
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
1
Bathrooms
1
Total area
2,118 SF
Lot
0.43 ac (18,731 SF)
Zoning code
UC
APN
588800501300
UPID
US90-1347132
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
UC · Sultan, WA
Zoning UC · permitted uses
UC · 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
OFFICE BUILDING Current
Est. value
$755,000
MEDICAL BUILDING
Est. value
$825,000
COMMERCIAL (GENERAL)
Est. value
$640,000
RETAIL STORES
Est. value
$615,000
WAREHOUSE, STORAGE
Est. value
$610,000
OFFICE BUILDING Current
MEDICAL 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
1960
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
City Of Sultan
Entity
Free & Clear · 4 yrs held
Mailing address
319 MAIN ST, SULTAN, WA 98294
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 15, 2022
$480,000
City Of Sultan
Sandra Lee Meyer
Personal Representative 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.
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