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Property profile & analytics
FOR LEASE
Office buildings
8425 44Th Ave W Mukilteo, WA 98275
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-1496849
For Lease
$7,000/Mo
8425 44Th Ave W, Mukilteo, WA 98275
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1963
Construction
WOOD
Total area
3,057 SF
Lot
0.41 ac (17,860 SF)
Zoning code
PI
APN
28041500202400
UPID
US90-1496849
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
-
J2 Building Consultants Engineering Consultant Architectural Designer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$895k
Comparable Approach
Comparable
$1.56M
Blend (final)
Blend
$1.12M
Owner & transaction history
Stewart Mccullum · 9 yrs held
Stewart Mccullum
since 2016
7 recorded transactions
Zoning & alternative use
PI · Mukilteo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+21.7%
Medical building
$1.2M
+9.5%
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 Mukilteo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mukilteo 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%
$970,000
6.5%
$895,000
7%
$830,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,090,000
Current use
AUTO REPAIR, GARAGE
$1,325,000
Change: +22% · Conversion: Difficult
MEDICAL BUILDING
$1,195,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$925,000
Change: -15% · Conversion: Easy
RETAIL STORES
$890,000
Change: -18% · Conversion: Moderate
WAREHOUSE, STORAGE
$885,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.12M
Range $1.01M – $1.23M · ±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
$366 / 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
$7,623
Tax year 2023
Assessed value
$1,057,600
Assessed 2023
Previous assessed
$974,200
+8.6% YoY
Effective rate
0.72%
On assessed value
Assessed land
$594,400
Assessed improvement
$463,200
Land market value
$594,400
Improvement market value
$463,200
Total market value
$1,057,600
Applied tax rate
667.0000
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
1963
Construction
WOOD
Heating
YES
Cooling
NONE
Stories
1
Total area
3,057 SF
Lot
0.41 ac (17,860 SF)
Zoning code
PI
APN
28041500202400
UPID
US90-1496849
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PI · Mukilteo, WA
Zoning PI · permitted uses
PI · Mukilteo, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mukilteo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$925,000
RETAIL STORES
Est. value
$890,000
WAREHOUSE, STORAGE
Est. value
$885,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1963
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Stewart Mccullum
Individual
Mailing address
8425 44TH AVE W, MUKILTEO, WA 98275-3229
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2020
—
8425 44 LLC
—
Deed
related
$175,000 · Keybank USA
Dec 30, 2016
—
Stewart Mccullum
Eastside Funding LLC
Re-recorded Document
related
$103,000 · Eastside Funding LLC
Dec 30, 2016
$425,501
Stewart Mccullum
Dwtr & J Corp|madison,blanca V
Trustees Deed
related
—
Dec 23, 2016
$660,000
8425 44 LLC
Mccullum,stewart
Warranty Deed
$528,000 · Banner Bk
Aug 8, 2016
$425,501
Stewart Mccullum
Blanca V Madison
Trustees Deed
related
—
Jan 15, 2015
—
Madison,blanca V & E J Trust
Madison,blanca V
Quit Claim Deed
related
—
Jun 21, 2007
—
Blanca V Madison
Madison,edward J
Quit Claim Deed
related
—
Jun 21, 2007
$825,500
Blanca V Madison
Donald M Whitson
Warranty Deed
$660,000 · Us Bank NA
—
—
8425 44 LLC
—
Deed Of Trust
related
$175,000 · Keybank USA
—
—
8425 44 LLC
—
Deed Of Trust
related
$475,000 · Keybank USA
—
—
Stewart Mccullum
—
Deed Of Trust
related
$435,462 · Eastside Fndg
—
—
Donald M Whitson
—
Deed Of Trust
related
$182,130 · Frontier 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.
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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