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Property profile & analytics
OFF-MARKET
Estimated value
$11,500,000
Warehouses
6505 216th St Swb Mountlake Terrace, WA 98043-2089
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1466713
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2001
Construction
TYPE NOT SPECIFIED
Total area
43,940 SF
Lot
3.26 ac (142,006 SF)
Zoning code
P5
APN
27042900108300
UPID
US90-1466713
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
$11.50M
CAP Approach
CAP
$8.55M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.50M
Owner & transaction history
Kris Obannon · 2 yrs held
Kris Obannon
since 2024
Last sale
$11.5M
2 recorded transactions
Zoning & alternative use
P5 · Mountlake Terrace, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$19.1M
+50.2%
Apartment house (5+ units)
$18.2M
+43.2%
Medical building
$17.2M
+35.2%
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
$11,500,000
ML approach
$11,500,000
CAP Approach
CAP Return
Estimation
6%
$9,260,000
6.5%
$8,545,000
7%
$7,935,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$12,690,000
Current use
AUTO REPAIR, GARAGE
$19,065,000
Change: +50% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$18,170,000
Change: +43% · Conversion: Difficult
MEDICAL BUILDING
$17,155,000
Change: +35% · Conversion: Difficult
OFFICE BUILDING
$15,670,000
Change: +23% · Conversion: Difficult
COMMERCIAL (GENERAL)
$13,320,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$12,795,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$11.50M
Range $10.35M – $12.65M · ±10% · vs last sale $11.50M (Feb 20 2024)
Last sale anchor
$11.50M
Feb 20 2024
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
$262 / 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
$92,019
Tax year 2023
Assessed value
$12,885,000
Assessed 2023
Previous assessed
$9,761,000
+32.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$3,726,400
Assessed improvement
$9,158,600
Land market value
$3,726,400
Improvement market value
$9,158,600
Total market value
$12,885,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2001
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Buildings
2
Stories
1
Total area
43,940 SF
Lot
3.26 ac (142,006 SF)
Zoning code
P5
APN
27042900108300
UPID
US90-1466713
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
WAREHOUSE, STORAGE Current
Est. value
$12.7M
AUTO REPAIR, GARAGE
Est. value
$19.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$18.2M
MEDICAL BUILDING
Est. value
$17.2M
OFFICE BUILDING
Est. value
$15.7M
COMMERCIAL (GENERAL)
Est. value
$13.3M
RETAIL STORES
Est. value
$12.8M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1
Buildings
2
Lot
3.26 ac
Current owner
From public records · entity-resolved
Kris Obannon
Individual
Mailing address
5745 BLACK LK BELMORE RD SW, OLYMPIA, WA 98512-7051
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 2024
$11,500,000
Kris Obannon
Taylors Landing LLC
Warranty Deed
$9,125,000 · Umpqua Bank
Jan 30, 2017
—
Taylors Landing LLC
—
Grant Deed
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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