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Property profile & analytics
OFF-MARKET
Estimated value
$3,590,000
Warehouses
6608 216th SW St Mountlake Terrace, WA 98043-2084
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US90-0786968
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1993
Construction
TYPE NOT SPECIFIED
Total area
19,189 SF
Lot
1 ac (43,560 SF)
Zoning code
P5
APN
27042900102800
UPID
US90-0786968
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
-
Freezerworks by Dataworks Development (Bike/Boat/Book/etc) Store Corporate Office
-
Network Wiring Services Electrical Service General Contractor
-
JC McDonnell Engineering, PC Civil Engineer
-
Compassion 4 Paws Pet Funeral Service
-
Corzec Corp. Business To Business Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.74M
Comparable Approach
Comparable
$2.20M
Blend (final)
Blend
$3.59M
Owner & transaction history
Michael & Murray LLC · 13 yrs held
Michael & Murray LLC
since 2013
6 recorded transactions
Zoning & alternative use
P5 · Mountlake Terrace, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.8M
+5.0%
Retail stores
$5.6M
+0.8%
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%
$4,045,000
6.5%
$3,735,000
7%
$3,465,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,540,000
Current use
COMMERCIAL (GENERAL)
$5,815,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$5,585,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$3.59M
Range $3.23M – $3.95M · ±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
$187 / 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
$31,265
Tax year 2023
Assessed value
$4,377,000
Assessed 2023
Previous assessed
$3,316,000
+32.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$1,318,600
Assessed improvement
$3,058,400
Land market value
$1,318,600
Improvement market value
$3,058,400
Total market value
$4,377,000
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
1993
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
19,189 SF
Lot
1 ac (43,560 SF)
Zoning code
P5
APN
27042900102800
UPID
US90-0786968
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
$5.5M
COMMERCIAL (GENERAL)
Est. value
$5.8M
RETAIL STORES
Est. value
$5.6M
WAREHOUSE, STORAGE Current
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
1993
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
1 ac
Current owner
From public records · entity-resolved
Michael & Murray LLC
Entity
Mailing address
6608 216TH ST SW STE #100, MOUNTLAKE TERRACE, WA 98043-2084
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
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 7, 2023
—
Michels And Murray LLC
—
Deed
related
$650,000 · First Citizens Bank & Trust Co
Sep 11, 2017
—
Michels & Murray LLC
—
Deed
related
$2,240,000 · First Citizens Bank & Trust Co
Mar 8, 2013
$2,300,280
Michael & Murray LLC
Hill & Associates Ltd
Warranty Deed
$2,127,500 · Wells Fargo Bank NA
Dec 20, 2004
$1,775,000
Hill & Associates Ltd
Pantech Associates LLC
Warranty Deed
$999,999 · Us Bank NA
Feb 1, 1990
$191,605
Pantech Associates
Unknown
Grant Deed
$143,703 · City Bank
—
—
Hill & Associates Ltd
—
Deed Of Trust
related
$99,500 · Coastal Community 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.
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