Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    707 228th SW St Bothell, WA 98021-9733
    Back to Search
    Property profile & analytics

    707 228th SW St, Bothell, WA 98021-9733

    View on Map
    • Medical Office Space
    • 46,522 SF
    • 9.00 lot acres
    Off-Market
    Last Sale Jan 8, 2025
    Property ID
    US90-1127885
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $7,020,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bothell Health Care / Medical Clinic
    • Purvi R. Vaghela, PT / Physician
    • Shavonne Tonnes / Medical Clinic

    Property Details for 707 228th SW St

    Year built
    1964
    Construction
    WOOD
    Lot size
    9.00 lot acres
    Zone code
    BM
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    519800100600
    APU
    519800100600

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 8, 2025 — Quality Health Care Of Bothell LLC Tethys Bothell LLC Deed $15M · Berkadia Commercial Mortgage LLC
    Apr 27, 2022 — Tethys Bothell LLC — Deed · related $14M · Bokf NA
    Sep 25, 2018 — Tethys Bothell LLC — Deed · related $5.3M · Berkadia Com'l Mtg
    May 8, 2018 — Tethys Bothell LLC — Deed · related $5.1M · Berkadia Commercial Mortgage LLC
    Mar 19, 2009 $92,977 Tethys Bothell LLC Tethys Partners Warranty Deed $2.7M · Private Lender
    Oct 8, 1998 — Snohomish County (wa) Tethys Partners Grant Deed · related —
    Jul 1, 1993 $1,890,000 Emma P Chadrick Mem Home INC Unknown Grant Deed $1.4M · Us Bank Of Washington
    Jun 28, 1993 $2,100,000 Tethys Partners Eastern Grant Deed —
    — — Tethys Bothell LLC — Deed Of Trust · related $5.3M · Berkadia Com'l Mtg
    — — Tethys Partners — Deed Of Trust · related $3M · First National Bank
    — — Tethys Bothell LLC — Deed Of Trust · related $2.8M · Standard Insurance Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bothell
    County
    Snohomish
    State
    Washington
    Longitude
    -122.241
    Latitude
    47.7924
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $87,731
    $6,504,000
    $3,897,700
    $10,401,700
    -
    $6,504,000
    $3,897,700
    $10,401,700

    Comparable in this City

    • Value Estimation
      $880,000
      3,877 SF

      24003 Bothell Everett Hwy

      MEDICAL BUILDING
      24003 Bothell Everett Hwy, Bothell, WA 98021-9342
      View Details
    • Value Estimation
      $555,000
      4,044 SF

      23131 Bothell Everett Hwy

      MEDICAL BUILDING
      23131 Bothell Everett Hwy, Bothell, WA 98021-9362
      View Details
    • Value Estimation
      $8,410,000
      56,966 SF

      2525 220th SE St

      MEDICAL BUILDING
      2525 220th SE St, Bothell, WA 98021-4440
      View Details
    • Value Estimation by Request
      2,851 SF

      1732 214th SE St

      MEDICAL BUILDING
      1732 214th SE St, Bothell, WA 98021-7632
      View Details
    • Value Estimation
      $17,020,000
      86,148 SF

      1909 214th SE St

      MEDICAL BUILDING
      1909 214th SE St, Bothell, WA 98021-4412
      View Details
    • Value Estimation by Request
      12,320 SF

      311 240th SW St

      HOMES (RETIRED, NURSING)
      311 240th SW St, Bothell, WA 98021-8618
      View Details

    Similar Nearby for Sale

    • $3,600,000
      7,913 SF

      Bothell Office and Warehouse Property

      Stand-alone office with warehouse and fenced yard in Bothell.
      810 240Th St SE, Bothell, WA 98021
      View Details
    • $12,775,000
      37,978 SF

      Bothell Flex Space For Sale

      37,978 SF flex space with warehouse and office components.
      22214 20Th Ave SE, Bothell, WA 98021
      View Details
    • $150,000

      Established Bothell Dry Cleaner

      Thriving Business, Turnkey Operation
      2020 Maltby Rd, Bothell, WA 98021
      View Details
    • Contact for pricing
      37,010 SF

      Bothell Warehouse Space Available

      38,411 SF warehouse space for rent in Bothell, WA.
      21520 30Th Dr Southeast, Bothell, WA 98021
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,576 SF

      Bothell Office/Medical Space Available

      Office and medical space available for rent in Bothell.
      22121 17Th Ave SE, Bothell, WA 98021
      View Details
    • $10,032 /Mo
      5,472 SF

      Bothell Office Space Available Soon

      Office space available in 90 days near University of Washington.
      2525 220Th St SE, Bothell, WA 98021
      View Details
    • Contact for pricing
      1,478 SF

      Bothell Stand-Alone Office/Retail Building

      Stand-alone Bothell office/retail building with drive-thru access for lease.
      23920 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • Contact for pricing

      Bothell Office Space Available

      Office space available for rent in Bothell, Washington.
      22618 Bothell Everett Hwy, Bothell, WA 98021
      View Details
    • Contact for pricing

      Established Canyon Park Business Park

      Multi-tenant business park in Bothell's Canyon Park.
      22011-22215 223Rd St SE, Bothell, WA 98021
      View Details
    • $9,158 /Mo
      5,495 SF

      Bothell Turn-Key Office Space

      Turn-key office space available in Bothell's high-tech corridor.
      3350 Monte Villa Pkwy, Bothell, WA 98021
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    707 228th SW St
    Bothell, WA 98021-9733
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    707 228th SW St, Bothell, WA, 98021
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!