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Property profile & analytics
FOR LEASE
Office buildings
6912 220Th St SW Mountlake Terrace, WA 98043
Entity Owned
8-yr Hold
Free & Clear
Property ID
US90-1439218
For Lease
1 / 2
$12 SF/Yr
6912 220Th St SW, Mountlake Terrace, WA 98043
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1985
Construction
TYPE NOT SPECIFIED
Total area
26,624 SF
Lot
1.34 ac (58,370 SF)
Zoning code
LI/OP
APN
27042900300500
UPID
US90-1439218
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
-
Elizabeth Brewer Physician
-
CCER Association Or Organization
-
Christina Natale, DPT Physician
-
DispatchHealth Urgent Medical Care - Seattle Medical Laboratory
-
Hall Creek Office Park Business Service Center Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.78M
Comparable Approach
Comparable
$4.02M
Blend (final)
Blend
$5.77M
Owner & transaction history
Utp LLC · 8 yrs held
Utp LLC
since 2017
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%
$8,430,000
6.5%
$7,780,000
7%
$7,225,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,495,000
Current use
COMMERCIAL (GENERAL)
$8,070,000
Change: -15% · Conversion: Easy
RETAIL STORES
$7,750,000
Change: -18% · Conversion: Moderate
WAREHOUSE, STORAGE
$7,690,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$5.77M
Range $5.19M – $6.34M · ±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
$217 / 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
$62,399
Tax year 2023
Assessed value
$8,737,000
Assessed 2023
Previous assessed
$8,401,000
+4.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$1,794,900
Assessed improvement
$6,942,100
Land market value
$1,794,900
Improvement market value
$6,942,100
Total market value
$8,737,000
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
For Lease
Year built
1985
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
26,624 SF
Lot
1.34 ac (58,370 SF)
Zoning code
LI/OP
APN
27042900300500
UPID
US90-1439218
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
$9.5M
COMMERCIAL (GENERAL)
Est. value
$8.1M
RETAIL STORES
Est. value
$7.8M
WAREHOUSE, STORAGE
Est. value
$7.7M
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
1985
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
1.34 ac
Current owner
From public records · entity-resolved
Utp LLC
Entity
Free & Clear · 8 yrs held
Mailing address
7638 NE BOTHELL WAY, KENMORE, WA 98028-3522
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2017
—
Utp LLC
Rh Hall Creek Associates LLC
Quit Claim Deed
related
—
Nov 2, 2017
$6,700,000
Utp LLC
Rh Hall Creek Associates LLC
Grant Deed
$4,020,000 · Miscellaneous Ins Co
May 25, 2017
—
Rh Hall Creek Associates LLC
—
Deed
related
$2,968,309 · East West Bk
Sep 25, 2008
$4,420,000
Rh Hall Creek Associates LLC
Hall Creek LLC
Warranty Deed
$2,200,000 · Washington First Int'l Bank
Jul 8, 2002
—
Hall Creek LLC
Fiorito,joseph A
Quit Claim Deed
related
—
Jun 1, 1990
$2,256,000
J Dan Fiorito
Unknown
Grant Deed
$1,308,480 · First Heritage Bank
—
—
Rh Hall Creek Associates LLC
—
Deed Of Trust
related
—
—
—
Rh Hall Creek Associates LLC
—
Loan Modification
related
$2,968,309 · East West 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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