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Property profile & analytics
OFF-MARKET
Estimated value
$1,710,000
Office buildings
655 Edmonds Way Edmonds, WA 98020-4640
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0289523
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1954
Construction
WOOD
Total area
4,060 SF
Lot
0.37 ac (16,117 SF)
Zoning code
EF
APN
27032500307900
UPID
US90-0289523
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
-
Chermak Construction Inc Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.91M
CAP Approach
CAP
$1.19M
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$1.71M
Owner & transaction history
Edmonds 2021 LLC · 3 yrs held
Edmonds 2021 LLC
since 2022
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
EF · Edmonds, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+12.1%
Medical building
$1.6M
+0.9%
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 Edmonds submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edmonds 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
$2,035,000
ML approach
$1,910,000
CAP Approach
CAP Return
Estimation
6%
$1,285,000
6.5%
$1,185,000
7%
$1,100,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,570,000
Current use
AUTO REPAIR, GARAGE
$1,760,000
Change: +12% · Conversion: Difficult
MEDICAL BUILDING
$1,585,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$1.71M
Range $1.54M – $1.88M · ±10% · vs last sale $1.60M (Aug 9 2022)
Last sale anchor
$1.60M
Aug 9 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
$421 / 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
$10,584
Tax year 2023
Assessed value
$1,540,000
Assessed 2023
Previous assessed
$1,242,000
+24.0% YoY
Effective rate
0.69%
On assessed value
Assessed land
$511,700
Assessed improvement
$1,028,300
Land market value
$511,700
Improvement market value
$1,028,300
Total market value
$1,540,000
Applied tax rate
216.0000
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
1954
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
2
Bathrooms
2
Total area
4,060 SF
Lot
0.37 ac (16,117 SF)
Zoning code
EF
APN
27032500307900
UPID
US90-0289523
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
EF · Edmonds, WA
Zoning EF · permitted uses
EF · Edmonds, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Edmonds. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.6M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1954
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
2
Lot
0.37 ac
Current owner
From public records · entity-resolved
Edmonds 2021 LLC
Entity
Mailing address
655 EDMONDS WAY, EDMONDS, WA 98020-4640
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 9, 2022
$1,600,000
Edmonds 2021 LLC
Howard L Chermak
Warranty Deed
$1,200,000 · Columbia State Bank
Dec 6, 2004
—
Chermak Howard & Judith Trust
Chermak,howard L & Judith G
Quit Claim Deed
related
—
Jul 6, 2001
$315,000
Howard L Chermak
Kotalik,elizabeth
Grant Deed
$417,893 · Pacific Northwest Bank
Dec 14, 2000
$249,950
Elizabeth Kotalik
Lush,david
Grant Deed
—
Feb 13, 1998
$200,000
David H Lush
Hoover,larry C & Sharon L
Grant Deed
$150,000 · Seller
—
—
David M Lush
—
Deed Of Trust
related
$47,000 · Individual
—
—
Howard L Chermak
—
Deed Of Trust
related
$417,893 · Pacific Northwest Bank
—
—
Howard L Chermak
—
Deed Of Trust
related
$193,000 · Evergreen Community Dev Assn
—
—
Howard L Chermak
—
Deed Of Trust
related
$229,000 · Us Bank NA
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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