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Property profile & analytics
FOR LEASE
Retail space
649 5Th St Mukilteo, WA 98275
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1313641
No photos on file
For Lease
$500/Mo
649 5Th St, Mukilteo, WA 98275
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Construction
WOOD
Total area
3,942 SF
Lot
0.15 ac (6,534 SF)
Zoning code
Q2
APN
459800600600
UPID
US90-1313641
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
-
Catrina Shaw-Sherman Real Estate Broker Real Estate Agency
-
Express Air Inc Corporate Office
-
Fred Baxter & Associates Architect
-
Micki A Hazen, CPA PLLC Accounting Firm Tax Preparation
-
Nurturing Health Massage, LLC Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.47M
Owner & transaction history
Ecklund Ocean View Properties LLC · 3 yrs held
Ecklund Ocean View Properties LLC
since 2022
Last sale
$1.5M
5 recorded transactions
Zoning & alternative use
Q2 · Mukilteo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.7M
+49.0%
Medical building
$1.5M
+34.1%
Office building
$1.4M
+22.5%
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 Mukilteo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mukilteo 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
$1,475,000
ML approach
$1,430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,150,000
Current use
AUTO REPAIR, GARAGE
$1,710,000
Change: +49% · Conversion: Difficult
MEDICAL BUILDING
$1,540,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$1,405,000
Change: +22% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,195,000
Change: +4% · Conversion: Easy
WAREHOUSE, STORAGE
$1,140,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$1.47M
Range $1.32M – $1.62M · ±10% · vs last sale $1.49M (Oct 28 2022)
Last sale anchor
$1.49M
Oct 28 2022
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
$373 / 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
$9,376
Tax year 2023
Assessed value
$1,301,000
Assessed 2023
Previous assessed
$1,156,000
+12.5% YoY
Effective rate
0.72%
On assessed value
Assessed land
$340,400
Assessed improvement
$960,600
Land market value
$340,400
Improvement market value
$960,600
Total market value
$1,301,000
Applied tax rate
667.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2001
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
3
Total area
3,942 SF
Lot
0.15 ac (6,534 SF)
Zoning code
Q2
APN
459800600600
UPID
US90-1313641
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
Q2 · Mukilteo, WA
Zoning Q2 · permitted uses
Q2 · Mukilteo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mukilteo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.1M
RETAIL STORES Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2001
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Lot
0.15 ac
Current owner
From public records · entity-resolved
Ecklund Ocean View Properties LLC
Entity
Mailing address
8500 32ND AVE NW APT #10, SEATTLE, WA 98117-3952
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2022
$1,485,000
Ecklund Ocean View Properties LLC
Baxter Development LLC
Warranty Deed
$685,000 · Baxter Development LLC
Oct 2, 2001
—
Baxter Development LLC
Baxter,fred J & Jennifer D
Quit Claim Deed
related
—
Sep 11, 2001
—
Compas Of Mukilteo INC
Baxter,fred J & Jennifer D
Quit Claim Deed
related
—
—
—
Baxter Dev LLC
—
Deed Of Trust
related
$250,000 · Bank Of Everett
—
—
Baxter Dev LLC
—
Deed Of Trust
related
$50,000 · Frontier 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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