New search
Property profile & analytics
OFF-MARKET
Estimated value
$5,585,000
Retail space
515 State Rte 9th NE, Lake Stevens, WA 98258-8523
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-3063073
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Construction
TYPE NOT SPECIFIED
Total area
27,840 SF
Lot
11.11 ac (483,952 SF)
Zoning code
SK
APN
493400300202
UPID
US90-3063073
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
by Request
CAP Approach
CAP
$6.19M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.59M
Owner & transaction history
Real Life Community Church · 1 yrs held
Real Life Community Church
since 2025
Last sale
$7,500
7 recorded transactions
Zoning & alternative use
SK · Lake Stevens, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lake Stevens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Stevens 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,700,000
6.5%
$6,185,000
7%
$5,745,000
Alternative Use
Use
Estimation
RETAIL STORES
$9,035,000
Current use
WAREHOUSE, STORAGE
$8,600,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$5.59M
Range $5.03M – $6.14M · ±10% · vs last sale $8k (Jul 26 2022)
Last sale anchor
$8k
Jul 26 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
$201 / 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
$146,500
Tax year 2023
Assessed value
$13,628,000
Assessed 2023
Previous assessed
$14,238,000
-4.3% YoY
Effective rate
1.07%
On assessed value
Assessed land
$11,628,000
Assessed improvement
$2,000,000
Land market value
$11,628,000
Improvement market value
$2,000,000
Total market value
$13,628,000
Applied tax rate
408.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1960
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Buildings
8
Stories
1
Bathrooms
2
Total area
27,840 SF
Lot
11.11 ac (483,952 SF)
Zoning code
SK
APN
493400300202
UPID
US90-3063073
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SK · Lake Stevens, WA
Zoning SK · permitted uses
SK · Lake Stevens, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Stevens. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$9.0M
WAREHOUSE, STORAGE
Est. value
$8.6M
RETAIL STORES Current
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
Buildings
8
Bathrooms
2
Lot
11.11 ac
Current owner
From public records · entity-resolved
Real Life Community Church
Entity
Free & Clear · 1 yrs held
Mailing address
2429 PARK AVE, TUSTIN, CA 92782-2705
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2025
—
Berno Holdings LLC
—
Deed
related
$401,500 · Mountain Pacific Bank
Jun 27, 2025
—
Bereno Holdings LLC
—
Deed
related
$864,500 · Mountain Pacific Bank
Jun 13, 2025
$1,128,448
Real Life Community Church
Village Suites LLC
Warranty Deed
—
Apr 30, 2025
$2,000,000
Bereno Holdings LLC
Loree D Olson Bolin
Warranty Deed
$1,700,000 · Mountain Pacific Bank
Sep 7, 2023
$460,000
Seala May Re LLC
Rodney A Windhorst
Warranty Deed
$368,000 · Rodney A Windhorst Etal
Jul 26, 2022
—
State Of Washington
Pk II Frontier Village Sc LLC
Warranty Deed
—
Apr 3, 2020
—
Windhorst,r A & Morris J Trust
Rodney A Windhorst
Quitclaim Deed
related
—
Jun 30, 2010
$55,898
Village Suites LLC
Lamarche,michael G & Lena
Quit Claim Deed
related
$633,000 · Key Bank NA
Jan 18, 2007
$45,126,717
Pk II Frontier Village Sc LLC
Ct Operating Ptshp
Grant Deed
$30,900,000 · * Other Institutional Lenders
Oct 31, 1997
$14,400,000
Alexander Haagen
Aig Frontier Village
Grant Deed
—
—
—
Alexander Haagen Properties
—
Deed Of Trust
related
$250,000 · Chase Manhattan Bank
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 515 State Rte 9th NE?
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.
