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Property profile & analytics
FOR LEASE
Medical Office Space
7320 216Th St Southwest Edmonds, WA 98026
Entity Owned
19-yr Hold
Free & Clear
Property ID
US90-0675112
For Lease
1 / 3
$10,195,000
7320 216Th St Southwest, Edmonds, WA 98026
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2003
Construction
TYPE NOT SPECIFIED
Total area
61,896 SF
Zoning code
MU
APN
580700002902
UPID
US90-0675112
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
-
Timothy W. Billings, PA-C Medical Clinic
-
Professional Sleep Services Physician Medical Clinic
-
Dana L. Feaver, DPT Physician
-
Ann M. Fleming, DPT Physician
-
Sandra Weyrauch, PT Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.94M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.20M
Owner & transaction history
STEVENS PAVILLION LLC
STEVENS PAVILLION LLC
Zoning & alternative use
MU · Edmonds, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
District is to reserve areas forhospitalsand related medical facilities
Zone name
Medical Use
General category
MIXED_USE
Zone area
19.39 ac
Source
Realmo
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 Edmonds submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Edmonds 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%
$15,105,000
6.5%
$13,940,000
7%
$12,945,000
Blend value · Realmo final
$10.20M
Range $9.18M – $11.21M · ±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
$165 / 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
$123,732
Tax year 2023
Assessed value
$18,197,000
Assessed 2023
Previous assessed
$17,315,000
+5.1% YoY
Effective rate
0.68%
On assessed value
Assessed improvement
$18,197,000
Improvement market value
$18,197,000
Total market value
$18,197,000
Applied tax rate
217.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2003
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
3
Total area
61,896 SF
Zoning code
MU
APN
580700002902
UPID
US90-0675112
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MU · Edmonds, WAZoning MU · permitted uses
MU · Edmonds, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
District is to reserve areas forhospitalsand related medical facilities
Zone name
Medical Use
General category
MIXED_USE
Zone area
19.39 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2003
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Current owner
From public records · entity-resolved
STEVENS PAVILLION LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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