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Property profile & analytics
FOR SALE
Office buildings
5603 230th SW St, Mountlake Terrace, WA 98043-4617
Entity Owned
~
Est. High Equity
Property ID
US90-1154916
For Sale
1 / 18
$850,000
5603 230th SW St, Mountlake Terrace, WA 98043-4617
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1951
Construction
TYPE NOT SPECIFIED
Total area
1,323 SF
Lot
0.19 ac (8,276 SF)
Zoning code
BC/D
APN
521900400600
UPID
US90-1154916
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
-
Jordan Ellefson, Pellego, Inc. Real Estate Agency
-
Synergy Property Buyers Real Estate Agency
-
Ly Le Real Estate - Pellego, Inc Real Estate Agency
-
Jia Khan, Pellego, Inc. Real Estate Agency
-
Andy Sharma, Pellego, Inc. Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mehmas Company LLC
Mehmas Company LLC
since 2026
Last sale
$760,000
7 recorded transactions
Zoning & alternative use
BC/D · 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
—
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
$4,132
Tax year 2023
Assessed value
$577,200
Assessed 2023
Previous assessed
$459,300
+25.7% YoY
Effective rate
0.72%
On assessed value
Assessed land
$444,500
Assessed improvement
$132,700
Land market value
$444,500
Improvement market value
$132,700
Total market value
$577,200
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
Bathrooms
1
Total area
1,323 SF
Lot
0.19 ac (8,276 SF)
Zoning code
BC/D
APN
521900400600
UPID
US90-1154916
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
BC/D · Mountlake Terrace, WA
Zoning BC/D · permitted uses
BC/D · 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
Bathrooms
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Mehmas Company LLC
Entity
Mailing address
648 BELL ST, EDMONDS, WA 98020-3020
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2026
$760,000
Mehmas Company LLC
Peter Tang
Warranty Deed
—
Mar 12, 2025
—
City Of Mountlake Terrace
Peter Tang
Warranty Deed
—
Sep 19, 2022
—
Peter Tang
—
Deed
related
$200,000 · First Financial Northwest Bank
Oct 5, 2016
$205,000
Peter Tang
Catanzaro,john A
Warranty Deed
—
Aug 10, 2004
$289,000
John A Catanzaro
Bond,sherry L
Grant Deed
$265,000 · Coastal Community Bank
Apr 1, 1996
$126,000
Sherry L Bond
Hall,christopher J
Grant Deed
$88,200 · Norwest Mortgage INC
Oct 1, 1992
$107,000
Christopher J Hall
Unknown
Grant Deed
$101,600 · Household Finance Corp
—
—
John A Catanzaro
—
Deed Of Trust
related
$330,000 · Union Bank
—
—
John A Catanzaro
—
Deed Of Trust
related
$330,000 · Frontier Bank
—
—
John A Catanzaro
—
Deed Of Trust
related
$151,000 · Bank Of America
—
—
John A Catanzaro
—
Deed Of Trust
related
$330,000 · Union Bank
—
—
Sherry L Bond
—
Deed Of Trust
related
$165,200 · Bank Of Edmonds
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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