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Property profile & analytics
OFF-MARKET
Estimated value
$1,855,000
Office buildings
6603 220th SW St, Mountlake Terrace, WA 98043-2186
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-0769188
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1981
Construction
TYPE NOT SPECIFIED
Total area
8,088 SF
Lot
0.59 ac (25,700 SF)
Zoning code
LI/OP
APN
27042900108000
UPID
US90-0769188
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
-
Sound Pain Solutions - Olympic Spine and Sports Therapy Office Alternative Medicine Practice
-
Jerrald Dreessen Alternative Medicine Practice
-
April K. Whiteman, Massage Physician
-
Back To Action Chiropractic Alternative Medicine Practice
-
Dr. Peter Choo Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.37M
Comparable Approach
Comparable
$1.24M
Blend (final)
Blend
$1.86M
Owner & transaction history
220th Place LLC · 10 yrs held
220th Place LLC
since 2016
7 recorded transactions
Zoning & alternative use
LI/OP · 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%
$2,560,000
6.5%
$2,365,000
7%
$2,195,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,885,000
Current use
COMMERCIAL (GENERAL)
$2,450,000
Change: -15% · Conversion: Easy
RETAIL STORES
$2,355,000
Change: -18% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,335,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.86M
Range $1.67M – $2.04M · ±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
$229 / 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
$19,304
Tax year 2023
Assessed value
$2,702,000
Assessed 2023
Previous assessed
$2,309,000
+17.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$788,400
Assessed improvement
$1,913,600
Land market value
$788,400
Improvement market value
$1,913,600
Total market value
$2,702,000
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
1981
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
8,088 SF
Lot
0.59 ac (25,700 SF)
Zoning code
LI/OP
APN
27042900108000
UPID
US90-0769188
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
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.5M
RETAIL STORES
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$2.3M
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
1981
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
0.59 ac
Current owner
From public records · entity-resolved
220th Place LLC
Entity
Mailing address
6603 220TH ST SW STE #102, MOUNTLAKE TERRACE, WA 98043-2186
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2020
—
220th Place LLC
—
Deed
related
$2,000,000 · Bank Of America
Apr 21, 2017
—
220th Place LLC
—
Deed
related
$659,000 · Evergreen Busn Cap
Jun 17, 2016
$1,450,000
220th Place LLC
S & Y Globa LLC
Warranty Deed
$659,000 · Heritage Bank
Jun 20, 2006
$1,120,000
S & Y Global LLC
Stycket,leroy L
Warranty Deed
$896,000 · Bank Of America
—
—
220th Place LLC
—
Deed Of Trust
related
$2,000,000 · Bank Of America
—
—
220th Place LLC
—
Deed Of Trust
related
$659,000 · Evergreen Busn Cap
—
—
220th Place LLC
—
Deed Of Trust
related
$802,025 · Heritage 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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