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Property profile & analytics
FOR SALE
Office buildings
5503 232Nd St SW Mountlake Terrace, WA 98043
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-1593016
For Sale
1 / 16
$2,100,000
5503 232Nd St SW, Mountlake Terrace, WA 98043
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1951
Construction
TYPE NOT SPECIFIED
Total area
9,600 SF
Lot
0.33 ac (14,375 SF)
Zoning code
P1
APN
521700400601
UPID
US90-1593016
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.58M
Owner & transaction history
T & L Properties LLC · 10 yrs held
T & L Properties LLC
since 2016
5 recorded transactions
Zoning & alternative use
P1 · Mountlake Terrace, 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 Mountlake Terrace submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mountlake Terrace 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$165 / 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
$9,964
Tax year 2023
Assessed value
$1,393,900
Assessed 2023
Previous assessed
$1,072,000
+30.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$629,100
Assessed improvement
$764,800
Land market value
$629,100
Improvement market value
$764,800
Total market value
$1,393,900
Applied tax rate
610.0000
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
For Sale
Year built
1951
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
1
Total area
9,600 SF
Lot
0.33 ac (14,375 SF)
Zoning code
P1
APN
521700400601
UPID
US90-1593016
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
P1 · Mountlake Terrace, WA
Zoning P1 · permitted uses
P1 · Mountlake Terrace, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mountlake Terrace. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1951
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
T & L Properties LLC
Entity
Mailing address
12725 HOLMES PT DR NE, KIRKLAND, WA 98034-5734
Ownership since
2016
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
Jan 5, 2016
$790,000
T & L Properties LLC
Douglas A Jones
Warranty Deed
$630,000 · Us Bank NA
Dec 31, 2015
—
Robert F Forbes
Jones,douglas A
Warranty Deed
—
Dec 19, 2014
—
Douglas A Jones
Northern Lights & Pro Audio INC
Quit Claim Deed
related
$200,000 · Juniper Capital Corporation
Jun 1, 1993
$350,000
—
—
Grant Deed
related
$318,500 · Seller
—
—
Douglas A Jones
—
Deed Of Trust
related
$320,000 · Individual
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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