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7224 204Th St NE, Arlington, WA 98223
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Property summary
AI-generated overview
Pilchuck Village in Arlington, Washington, consists of retail/office suites located along 204th Avenue Northeast in an area characterized by high traffic volumes, with proximity to Highway 9 and Interstate 5. The suite layouts are designed to be combinable to support larger occupancies, and the spaces are delivered as vanilla shell condition. The property includes two Type 1 hood capabilities suitable for a restaurant storefront configuration. It is positioned near established retail and service uses, including Starbucks and Bartell Drugstore across the street, with Safeway located near Highway 9, and the Centennial Walking & Bike Trail situated down the street.
Property profile
Verified
Property type
Other apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2021
Construction
WOOD
Total area
104,336 SF
Lot
1.47 ac (64,033 SF)
Zoning code
GC
APN
769800000600
UPID
US90-2131965
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hair Salon
-
Hair Salon Nail Salon
-
Hair Salon
-
Hair Salon Nail Salon
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.09M
Owner & transaction history
since 2020
Last sale
$2,200
5 recorded transactions
Zoning & alternative use
GC · Arlington, WA
Zoning description
Old Town Business District (OTBD), General Commercial (GC), Highway Commercial (HC), Business Park (BP), and Commercial Corridor (CC). These districts are created to accomplish the purposes and serve the objectives set f…
General category
COMMERCIAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$14.09M
Value range
$12.68M – $15.50M
±10% around blend
Estimated value / SF
$135 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$12.68M
blend $14.09M
$15.50M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
104,336 SF
Lot area
1.47 ac
Year built
2021
Stories
4
APN
769800000600
Zoning
GC
Assessed value
$9,269,900
Annual tax
$71,522
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$71,522
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$14.09M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 35 sales
$414
-67%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $135/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.71M
Move the market yield to see immediate price impact.
Value / SF
$16
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$108k
$2.15M
$1.54M
$1.20M
$120k
$2.39M
$1.71M
$1.33M
$132k
$2.63M
$1.88M
$1.46M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$71,522
Tax year 2023
Assessed value
$9,269,900
Assessed 2023
Previous assessed
$1,836,400
+404.8% YoY
Effective rate
0.77%
On assessed value
Assessed land
$832,200
Assessed improvement
$8,437,700
Land market value
$832,200
Improvement market value
$8,437,700
Total market value
$9,269,900
Applied tax rate
110.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
For Lease
Year built
2021
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
4
Total area
104,336 SF
Lot
1.47 ac (64,033 SF)
Zoning code
GC
APN
769800000600
UPID
US90-2131965
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
GC · Arlington, WAZoning GC · permitted uses
GC · Arlington, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Old Town Business District (OTBD), General Commercial (GC), Highway Commercial (HC), Business Park (BP), and Commercial Corridor (CC). These districts are created to accomplish the purposes and serve the objectives set f…
General category
COMMERCIAL
Building & site characteristics
From public records
Year built
2021
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
4
Lot
1.47 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
GC
COMMERCIAL
Jurisdiction
Arlington, WA
Recorded code
GC
Official district
GC
Official district profile
What the municipal code says about GC
Zoning description
Old Town Business District (OTBD), General Commercial (GC), Highway Commercial (HC), Business Park (BP), and Commercial Corridor (CC). These districts are created to accomplish the purposes and serve the objectives set f…
General category
COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for GC in Arlington, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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