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Property profile & analytics
FOR LEASE
Medical Office Space
5701 Bothell Way Kenmore, WA 98028
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-0940151
No photos on file
For Lease
$1,140/Mo
5701 Bothell Way, Kenmore, WA 98028
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1975
Construction
FRAME
Total area
10,588 SF
Lot
1.2 ac (52,300 SF)
Zoning code
UC
APN
112604-9115
UPID
US90-0940151
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
$4.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.20M
Blend (final)
Blend
$4.00M
Owner & transaction history
I & K Real Estate Corp · 2 yrs held
I & K Real Estate Corp
since 2024
Last sale
$4.0M
7 recorded transactions
Zoning & alternative use
UC · Kenmore, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
nters are promoted along SR-522, particularly in the northwest quadrant of the 68th Avenue NE/SR-522 intersection. ( Ord. 11-0329 , § 3 (Exh. 1) ) § 18.15.067 Urban corridor zone. The purpose of the urban corridor zone (UC) is to convert SR-522 from a commercial strip, focused on the automobile, to a more pedestrian-and transit-friendly urban corridor. West…
Zone name
Urban Corridor
General category
COMMERCIAL
Zone area
26.82 ac
Top alternative use upside
Office building
$6.4M
+52.8%
Restaurant
$5.6M
+34.3%
Auto repair, garage
$4.9M
+16.2%
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 Kenmore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kenmore 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
$4,000,000
ML approach
$4,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,180,000
Current use
OFFICE BUILDING
$6,390,000
Change: +53% · Conversion: Easy
RESTAURANT
$5,615,000
Change: +34% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,860,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$4,155,000
Change: -1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$4,040,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,670,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$4.00M
Range $3.60M – $4.40M · ±10% · vs last sale $4.00M (Apr 10 2024)
Last sale anchor
$4.00M
Apr 10 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
$378 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$42,480
Tax year 2024
Assessed value
$3,073,400
Assessed 2023
Previous assessed
$3,073,400
+0.0% YoY
Effective rate
1.38%
On assessed value
Assessed land
$2,353,500
Assessed improvement
$719,900
Land market value
$2,353,500
Improvement market value
$719,900
Total market value
$3,073,400
Applied tax rate
1,442.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1975
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Total area
10,588 SF
Lot
1.2 ac (52,300 SF)
Zoning code
UC
APN
112604-9115
UPID
US90-0940151
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
UC · Kenmore, WAZoning UC · permitted uses
UC · Kenmore, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
nters are promoted along SR-522, particularly in the northwest quadrant of the 68th Avenue NE/SR-522 intersection. ( Ord. 11-0329 , § 3 (Exh. 1) ) § 18.15.067 Urban corridor zone. The purpose of the urban corridor zone (UC) is to convert SR-522 from a commercial strip, focused on the automobile, to a more pedestrian-and transit-friendly urban corridor. West of down-town, the north side of the highway would continue to be a mix of restaura
Zone name
Urban Corridor
General category
COMMERCIAL
Zone area
26.82 ac
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.2M
OFFICE BUILDING
Est. value
$6.4M
RESTAURANT
Est. value
$5.6M
AUTO REPAIR, GARAGE
Est. value
$4.9M
RETAIL STORES
Est. value
$4.2M
INDUSTRIAL (GENERAL)
Est. value
$4.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.7M
MEDICAL BUILDING Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1975
Construction
FRAME
Heating
HEAT PUMP
Stories
1
Lot
1.2 ac
Current owner
From public records · entity-resolved
I & K Real Estate Corp
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 1041, BELLEVUE, WA 98009-1041
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2024
$4,000,000
I & K Real Estate Corp
Uplake Associates LLC
Warranty Deed
—
Oct 9, 2015
$2,950,000
Uplake Associates LLC
Uplake Dental Building LLC
Warranty Deed
$1,750,000 · Miscellaneous Ins Co
Nov 23, 2005
—
Uplake Dental Building LLC
Burton LLC
Grant Deed
$2,038,000 · Column Financial INC
Nov 5, 2001
—
Ralph Trust
Ralph,anita M & Calvin K
Quit Claim Deed
related
—
Oct 23, 1998
$1,925,000
Blum
Mosher,charles D & Betty D
Trustees Deed
$1,440,000 · Cascade Bank
Dec 30, 1993
$1,199,000
Charles D Mosher
Mikelee LP
Grant Deed
$993,750 · Columbia Savings Bank
Jun 30, 1993
$915,000
LP Mikelee
Uplake
Grant Deed
$741,100 · Seller
—
—
Baldwin Uplake LLC
—
Deed Of Trust
related
$75,000 · Cascade 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.
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