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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Office buildings
506 Main St, Monroe, WA 98272-1816
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1693585
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1912
Construction
WOOD
Total area
2,148 SF
Lot
0.23 ac (10,019 SF)
Zoning code
PO
APN
395900000101
UPID
US90-1693585
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
-
Smiley's Pro-Lube Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$705k
CAP Approach
CAP
$630k
Comparable Approach
Comparable
$794k
Blend (final)
Blend
$705k
Owner & transaction history
Kimberly Sue Hale · 2 yrs held
Kimberly Sue Hale
since 2024
Last sale
$706,000
6 recorded transactions
Zoning & alternative use
PO · Monroe, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$930,000
+21.7%
Medical building
$840,000
+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 Monroe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monroe 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
$705,000
ML approach
$705,000
CAP Approach
CAP Return
Estimation
6%
$680,000
6.5%
$630,000
7%
$585,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$765,000
Current use
AUTO REPAIR, GARAGE
$930,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$840,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$650,000
Change: -15% · Conversion: Easy
RETAIL STORES
$625,000
Change: -18% · Conversion: Moderate
WAREHOUSE, STORAGE
$620,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$705k
Range $635k – $776k · ±10% · vs last sale $706k (Feb 26 2024)
Last sale anchor
$706k
Feb 26 2024
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
$328 / 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
$4,498
Tax year 2023
Assessed value
$604,000
Assessed 2023
Previous assessed
$483,000
+25.1% YoY
Effective rate
0.74%
On assessed value
Assessed land
$324,000
Assessed improvement
$280,000
Land market value
$324,000
Improvement market value
$280,000
Total market value
$604,000
Applied tax rate
530.0000
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
1912
Construction
WOOD
Heating
FORCED AIR
Cooling
NONE
Buildings
2
Stories
2
Rooms
5
Bathrooms
2
Total area
2,148 SF
Lot
0.23 ac (10,019 SF)
Zoning code
PO
APN
395900000101
UPID
US90-1693585
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PO · Monroe, WA
Zoning PO · permitted uses
PO · Monroe, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monroe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$765,000
AUTO REPAIR, GARAGE
Est. value
$930,000
MEDICAL BUILDING
Est. value
$840,000
COMMERCIAL (GENERAL)
Est. value
$650,000
RETAIL STORES
Est. value
$625,000
WAREHOUSE, STORAGE
Est. value
$620,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
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
1912
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Rooms
5
Bathrooms
2
Lot
0.23 ac
Current owner
From public records · entity-resolved
Kimberly Sue Hale
Individual
Mailing address
506 W MAIN ST, MONROE, WA 98272-1816
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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
Feb 26, 2024
$706,000
Kimberly Sue Hale
Laurel Lingle
Warranty Deed
$456,000 · Newrez LLC
Dec 28, 2018
$475,000
Ryan A Lingle
Helen F Williams
Warranty Deed
$380,000 · American Pacific Mortgage
Nov 13, 2017
—
Williams,lowell D & Helen F Trust
Williams L D & H F Trust
Quit Claim Deed
related
—
Jul 1, 1988
$104,000
Helen F Vandegriff
Reynolds,randall
Grant Deed
$74,000 · First Mutual Savings Bank
—
—
Williams,tr
—
Deed Of Trust
related
$59,395 · Washington Mutual Fsb
—
—
Lowell D Williams
—
Deed Of Trust
related
$69,300 · 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.
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