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Property profile & analytics
FOR LEASE
Office buildings
6405 218Th St SW, Mountlake Terrace, WA 98043
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US90-1149613
For Lease
1 / 11
$4,745,000
6405 218Th St SW, Mountlake Terrace, WA 98043
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1987
Construction
WOOD
Total area
21,058 SF
Lot
2.39 ac (104,108 SF)
Zoning code
P5
APN
491300200400
UPID
US90-1149613
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
-
Web Marketing Smart Marketing & Advertising (Bike/Boat/Book/etc) Store
-
The Dr. Pat Show with Dr. Pat Baccili Radio Station Telecommunications Service
-
Generations Pregnancy Care Medical Clinic
-
Ready Meds Pharmacy Pharmacy
-
Seattle Orthotics And Prosthetics Orthotics & Prosthetics Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.16M
Comparable Approach
Comparable
$3.28M
Blend (final)
Blend
$4.75M
Owner & transaction history
Mountlake Investment LLC · 19 yrs held
Mountlake Investment LLC
since 2006
7 recorded transactions
Zoning & alternative use
P5 · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,670,000
6.5%
$6,155,000
7%
$5,715,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,510,000
Current use
COMMERCIAL (GENERAL)
$6,385,000
Change: -15% · Conversion: Easy
RETAIL STORES
$6,130,000
Change: -18% · Conversion: Moderate
WAREHOUSE, STORAGE
$6,080,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$4.75M
Range $4.27M – $5.22M · ±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
$225 / 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
$50,874
Tax year 2023
Assessed value
$7,123,000
Assessed 2023
Previous assessed
$6,849,000
+4.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$3,207,500
Assessed improvement
$3,915,500
Land market value
$3,207,500
Improvement market value
$3,915,500
Total market value
$7,123,000
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 Lease
Year built
1987
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
2
Bathrooms
3
Total area
21,058 SF
Lot
2.39 ac (104,108 SF)
Zoning code
P5
APN
491300200400
UPID
US90-1149613
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
P5 · Mountlake Terrace, WA
Zoning P5 · permitted uses
P5 · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$7.5M
COMMERCIAL (GENERAL)
Est. value
$6.4M
RETAIL STORES
Est. value
$6.1M
WAREHOUSE, STORAGE
Est. value
$6.1M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
1987
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
3
Lot
2.39 ac
Current owner
From public records · entity-resolved
Mountlake Investment LLC
Entity
Mailing address
12734 SE 73RD ST, NEWCASTLE, WA 98056-1317
Ownership since
2006
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
Oct 8, 2025
—
Mountlake Investment LLC
—
Deed
related
$500,000 · Banner Bank
Jan 20, 2022
—
Mountlake Investment LLC
—
Deed
related
$3,000,000 · Banner Bank
Jan 19, 2017
—
Mountlake Investment LLC
—
Deed
related
$2,200,000 · Wells Fargo Bank NA
Jul 31, 2006
$4,225,000
Mountlake Investment LLC
Business Plans & Strategies In
Warranty Deed
$3,000,000 · Cathay Bank
Oct 2, 2001
$3,725,000
Plans Business
Jet Properties INC
Grant Deed
$2,890,000 · Sterling Savings Bank
Dec 30, 1999
—
Jet Properties INC
6405 Building LLC
Grant Deed
$2,940,000 · Us Bank NA
Jun 30, 1998
—
6405 Building LLC
Kopp,bud H
Quit Claim Deed
related
$2,850,000 · Frontier Bank
Aug 25, 1997
—
Bud H Kopp
—
Grant Deed
related
$2,700,000 · Us Bank
—
—
6405 Building LLC
—
Deed Of Trust
related
$110,000 · Individual
—
—
Mountlake Investment LLC
—
Deed Of Trust
related
$2,450,000 · Banner Bank
—
—
Mountlake Investment LLC
—
Deed Of Trust
related
$2,360,000 · Cathay Bank
—
—
Bud H Kopp
—
Deed Of Trust
related
$75,000 · Us Bank Of Washington
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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