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    Property profile & analytics

    611 Main St Edmonds, WA 98020

    • Office buildings
    • 3,110 SF
    • 0.15 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Last Sale
    Mar 05, 2021
    $1,350,000
    Value Estimations
    $1,865,000
    Cap Rate Potential
    3.2%
    Office buildings
    Location Intelligence
    Property ID
    US90-0073983
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Steve Dill Counseling / Counselor
    • Stempf Deborah A / Physical Therapist
    • Integrated Counseling Services, LLC / Counselor / Mental Health Service
    • Mestres Noelle / Marriage Or Relationship Counselor
    • Joshua Green / Acupuncturist

    Property Details for 611 Main St

    Year built
    1948
    Construction
    WOOD
    Lot size
    0.15 lot acres
    Property size
    3,110 SF
    Zone code
    BD2
    Property type
    Office buildings
    APN
    434209803700
    APU
    434209803700

    Description

    This exceptional commercial property at 611 Main Street in Edmonds, Washington, offers a rare opportunity to lease flexible office space in a vibrant downtown location. The building, totaling 2,739 square feet, is currently fully vacant and available for lease. The property is classified as both retail and office space, catering to a variety of business needs. Multiple tenancy options are available, with spaces ranging from a minimum of 246 square feet to a maximum contiguous space of 737 square feet. This allows for businesses of various sizes to find a suitable fit. The building's location in Snohomish County, with a 98020 zip code, provides easy access to local amenities, transportation, and a thriving business community. The address is 611 Main Street, Edmonds, WA. This is an ideal opportunity for businesses seeking a prominent location in a bustling city center. The property's versatility makes it suitable for a range of office uses, from executive suites to traditional office setups. The entire 2,739 square feet is available for lease, offering significant potential for a single tenant or the possibility of dividing the space to accommodate multiple businesses. Interested parties are encouraged to inquire about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,870,000
      ML approach
      $1,780,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,676,000
      Market price range: $753k - $1.68M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Edmonds
    County
    Snohomish
    State
    Washington
    Longitude
    -122.374
    Latitude
    47.8108
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,251
    $711,300
    $636,000
    $1,347,300
    -
    $711,300
    $636,000
    $1,347,300

    Comparable in this City

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      123 2nd S Ave

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    • Value Estimation
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      17,092 SF

      51 Dayton St

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      51 Dayton St, Edmonds, WA 98020-4111
      View Details
    • Value Estimation
      $2,010,000
      3,736 SF

      221 James St

      PROFESSIONAL BUILDING • 3,736 SF
      221 James St, Edmonds, WA 98020-8401
      View Details
    • Value Estimation
      $855,000
      4,923 SF

      543 Main St

      PROFESSIONAL BUILDING • 4,923 SF
      543 Main St, Edmonds, WA 98020-3162
      View Details
    • Value Estimation
      $505,000
      9,389 SF

      23107 100th W Ave

      PROFESSIONAL BUILDING • 9,389 SF
      23107 100th W Ave, Edmonds, WA 98020-5062
      View Details
    • Value Estimation
      $2,170,000
      4,768 SF

      627 Dayton St

      PROFESSIONAL BUILDING • 4,768 SF
      627 Dayton St, Edmonds, WA 98020-3432
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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    • $30 SF/Yr
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      Edmonds Office Space For Rent

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      611 Main St, Edmonds, WA 98020
      View Details
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    • Contact for pricing
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    611 Main St
    Edmonds, WA 98020
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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