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Property profile & analytics
OFF-MARKET
Estimated value
$7,345,000
Office buildings
6505 216th St Swa, Mountlake Terrace, WA 98043-2089
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1163185
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2001
Construction
TYPE NOT SPECIFIED
Total area
24,319 SF
Lot
2.39 ac (104,108 SF)
Zoning code
LI/OP
APN
27042900108200
UPID
US90-1163185
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
-
Willamette Dental Group - Mountlake Terrace Dental Office
-
Mountlake Terrace Heating & Air Conditioning HVAC Service General Contractor
-
Mr. Heinz Malon Marriage Or Relationship Counselor
-
Mountlake Terrace Enforcement Office Government Office
-
Emmanuel Metayer Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.46M
CAP Approach
CAP
$7.11M
Comparable Approach
Comparable
$7.33M
Blend (final)
Blend
$7.35M
Owner & transaction history
Mindful Properties LLC · 4 yrs held
Mindful Properties LLC
since 2021
Last sale
$6.3M
6 recorded transactions
Zoning & alternative use
LI/OP · Mountlake Terrace, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$10.6M
+21.7%
Apartment house (5+ units)
$10.1M
+16.0%
Medical building
$9.5M
+9.5%
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 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
$8,665,000
ML approach
$8,460,000
CAP Approach
CAP Return
Estimation
6%
$7,700,000
6.5%
$7,110,000
7%
$6,600,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,675,000
Current use
AUTO REPAIR, GARAGE
$10,550,000
Change: +22% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$10,055,000
Change: +16% · Conversion: Easy
MEDICAL BUILDING
$9,495,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$7,370,000
Change: -15% · Conversion: Easy
RETAIL STORES
$7,080,000
Change: -18% · Conversion: Moderate
WAREHOUSE, STORAGE
$7,025,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$7.35M
Range $6.61M – $8.08M · ±10% · vs last sale $6.26M (Jul 14 2021)
Last sale anchor
$6.26M
Jul 14 2021
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
$302 / 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
$44,526
Tax year 2023
Assessed value
$6,234,000
Assessed 2023
Previous assessed
$5,994,000
+4.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$2,233,400
Assessed improvement
$4,000,600
Land market value
$2,233,400
Improvement market value
$4,000,600
Total market value
$6,234,000
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
Off-Market
Year built
2001
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
24,319 SF
Lot
2.39 ac (104,108 SF)
Zoning code
LI/OP
APN
27042900108200
UPID
US90-1163185
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LI/OP · Mountlake Terrace, WA
Zoning LI/OP · permitted uses
LI/OP · 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
$8.7M
AUTO REPAIR, GARAGE
Est. value
$10.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.1M
MEDICAL BUILDING
Est. value
$9.5M
COMMERCIAL (GENERAL)
Est. value
$7.4M
RETAIL STORES
Est. value
$7.1M
WAREHOUSE, STORAGE
Est. value
$7.0M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
2001
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
2.39 ac
Current owner
From public records · entity-resolved
Mindful Properties LLC
Entity
Mailing address
6505 216TH ST SW STE #100, MOUNTLAKE TERRACE, WA 98043-2089
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2021
—
Mindful Properties LLC
—
Deed
related
$3,127,500 · Jpmorgan Chase Bank NA
Jul 27, 2021
—
Mindful Properties LLC
—
Deed
related
$2,534,000 · Northwest Businees Development Associati
Jul 14, 2021
$6,255,000
Mindful Properties LLC
Taylors Landing LLC
Warranty Deed
$3,127,500 · Jpmorgan Chase Bank NA
Aug 3, 2018
—
Department Of Ent Services
Taylors Landing LLC
Grant Deed
related
—
Jan 30, 2017
—
Taylors Landing LLC
—
Deed
related
$5,400,000 · Homestreet Bk
—
—
Taylors Landing LLC
—
Deed Of Trust
related
$5,400,000 · Homestreet Bk
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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