Back to Search
Property profile & analytics
FOR LEASE
Office buildings
601 W State St Sedro Woolley, WA 98284
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US90-0117150
For Lease
1 / 11
Contact for pricing
601 W State St, Sedro Woolley, WA 98284
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Total area
5,920 SF
Lot
3.23 ac (140,699 SF)
APN
4170-000-013-0001
UPID
US90-0117150
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
-
A R Watson USA Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.08M
Comparable Approach
Comparable
$2.08M
Blend (final)
Blend
$1.85M
Owner & transaction history
Mina Properties IV LLC
Mina Properties IV LLC
since 2026
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+10.9%
Auto repair, garage
$1.4M
+5.1%
Retail stores
$1.4M
+4.9%
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 Sedro Woolley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sedro Woolley 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%
$2,250,000
6.5%
$2,075,000
7%
$1,925,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,360,000
Current use
COMMERCIAL (GENERAL)
$1,505,000
Change: +11% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,430,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$1,425,000
Change: +5% · Conversion: Moderate
RESTAURANT
$1,245,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$1.85M
Range $1.66M – $2.03M · ±10%
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
$312 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$17,002
Tax year 2022
Assessed value
$1,672,500
Assessed 2021
Previous assessed
$1,672,500
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$984,900
Assessed improvement
$687,600
Land market value
$984,900
Improvement market value
$687,600
Total market value
$1,672,500
Applied tax rate
935.0000
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
OFFICE BUILDING
Status
For Lease
Year built
1970
Heating
NONE
Buildings
2
Stories
1
Total area
5,920 SF
Lot
3.23 ac (140,699 SF)
APN
4170-000-013-0001
UPID
US90-0117150
Jurisdiction
SKAGIT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
RESTAURANT
Est. value
$1.2M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
RESTAURANT
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
1970
Heating
NONE
Stories
1
Buildings
2
Lot
3.23 ac
Current owner
From public records · entity-resolved
Mina Properties IV LLC
Entity
Mailing address
1418 MARKET ST #1418, KIRKLAND, WA 98033-5436
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2026
—
Mina Properties IV LLC
—
Deed
related
$4,400,000 · Washington Trust Bank
Aug 18, 2023
—
Mina Properties IV LLC
—
Deed
related
$11,500,000 · Red Fox Capital Mortgage Fund LP
Nov 29, 2021
—
Mina Properties IV LLC
—
Deed
related
$2,644,000 · Evergreen Business Capital
Aug 26, 2021
—
Mina Properties IV LLC
—
Deed
related
$3,263,200 · Washington Trust 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?”
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.
