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Property profile & analytics
FOR SALE
Banks
501 N Olympic Ave Arlington, WA 98223
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-1277093
For Sale
1 / 24
$3,000,000
501 N Olympic Ave, Arlington, WA 98223
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1971
Construction
TYPE NOT SPECIFIED
Total area
7,124 SF
Lot
0.21 ac (9,148 SF)
Zoning code
16
APN
529901001200
UPID
US90-1277093
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
$915k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$865k
Owner & transaction history
H4it Arlington LLC · 3 yrs held
H4it Arlington LLC
since 2022
Last sale
$865,000
1 recorded transaction
Zoning & alternative use
16 · Arlington, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+87.8%
Commercial (general)
$1.2M
+84.5%
Office building
$890,000
+38.3%
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 Arlington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Arlington 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
$860,000
ML approach
$915,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$645,000
Current use
RESTAURANT
$1,210,000
Change: +88% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,185,000
Change: +84% · Conversion: Difficult
OFFICE BUILDING
$890,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$825,000
Change: +28% · Conversion: Difficult
AUTO REPAIR, GARAGE
$645,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$865k
Range $779k – $952k · ±10% · vs last sale $865k (Nov 15 2022)
Last sale anchor
$865k
Nov 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
$121 / 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
$14,262
Tax year 2023
Assessed value
$1,847,500
Assessed 2023
Previous assessed
$1,557,900
+18.6% YoY
Effective rate
0.77%
On assessed value
Assessed land
$213,800
Assessed improvement
$1,633,700
Land market value
$213,800
Improvement market value
$1,633,700
Total market value
$1,847,500
Applied tax rate
110.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
For Sale
Year built
1971
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
7,124 SF
Lot
0.21 ac (9,148 SF)
Zoning code
16
APN
529901001200
UPID
US90-1277093
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
16 · Arlington, WA
Zoning 16 · permitted uses
16 · Arlington, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Arlington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$645,000
RESTAURANT
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$890,000
MEDICAL BUILDING
Est. value
$825,000
AUTO REPAIR, GARAGE
Est. value
$645,000
FINANCIAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1971
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
H4it Arlington LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1017 300TH ST NW, STANWOOD, WA 98292-5447
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
Nov 15, 2022
$865,000
H4it Arlington LLC
Bank Of America National Associatio
Bargain And Sale 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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