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Property profile & analytics
OFF-MARKET
Estimated value
$12,110,000
Hotels
8521 Mukilteo Speedway, Mukilteo, WA 98275-3203
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1663777
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1999
Construction
WOOD
Total area
28,720 SF
Lot
4.53 ac (197,327 SF)
Zoning code
CB
APN
611600013100
UPID
US90-1663777
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
-
phil jonhson park Park
-
8521 Mukilteo Speedway Parking Parking Lot & Garage
-
TownePlace Suites Seattle Everett/Mukilteo Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.39M
Blend (final)
Blend
$12.11M
Owner & transaction history
Veer Hospitality Mukilteo LLC · 2 yrs held
Veer Hospitality Mukilteo LLC
since 2023
Last sale
$11.8M
6 recorded transactions
Zoning & alternative use
CB · Mukilteo, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$14.9M
+62.1%
Auto repair, garage
$12.5M
+35.7%
Apartment house (5+ units)
$11.9M
+29.4%
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
$12,385,000
ML approach
$8,775,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$9,180,000
Current use
RESTAURANT
$14,885,000
Change: +62% · Conversion: Difficult
AUTO REPAIR, GARAGE
$12,460,000
Change: +36% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$11,875,000
Change: +29% · Conversion: Difficult
MEDICAL BUILDING
$11,215,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$10,245,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$8,705,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$8,360,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$12.11M
Range $10.90M – $13.32M · ±10% · vs last sale $11.83M (Aug 3 2023)
Last sale anchor
$11.83M
Aug 3 2023
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
$422 / 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
$105,976
Tax year 2023
Assessed value
$14,720,000
Assessed 2023
Previous assessed
$14,720,000
+0.0% YoY
Effective rate
0.72%
On assessed value
Assessed land
$3,669,600
Assessed improvement
$11,050,400
Land market value
$3,669,600
Improvement market value
$11,050,400
Total market value
$14,720,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1999
Construction
WOOD
Heating
YES
Cooling
NONE
Buildings
6
Stories
2
Units
16
Rooms
64
Bathrooms
1
Total area
28,720 SF
Lot
4.53 ac (197,327 SF)
Zoning code
CB
APN
611600013100
UPID
US90-1663777
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CB · Mukilteo, WA
Zoning CB · permitted uses
CB · 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
HOTEL/MOTEL Current
Est. value
$9.2M
RESTAURANT
Est. value
$14.9M
AUTO REPAIR, GARAGE
Est. value
$12.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.9M
MEDICAL BUILDING
Est. value
$11.2M
OFFICE BUILDING
Est. value
$10.2M
COMMERCIAL (GENERAL)
Est. value
$8.7M
RETAIL STORES
Est. value
$8.4M
HOTEL/MOTEL Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1999
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Buildings
6
Units
16
Rooms
64
Bathrooms
1
Lot
4.53 ac
Current owner
From public records · entity-resolved
Veer Hospitality Mukilteo LLC
Entity
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2023
$11,832,000
Veer Hospitality Mukilteo LLC
Bre Select Hotels Properties LLC
Bargain And Sale Deed
$8,575,000 · First Fed Bank
Jul 14, 2017
—
Bre Select Hotels Properties LLC
—
Deed
related
—
May 17, 2013
—
Bre Select Hotels Properties LLC
Bre Select Hotels Pa LLC
Quit Claim Deed
related
—
Dec 29, 2005
$8,767,600
Apple Six Hospitality Ownershi
Stonebrook Mukilteo LLC
Warranty Deed
—
Sep 8, 1998
—
Stonebrook Mukilteo LLC
—
Grant Deed
related
$6,934,000 · Frontier Bank
Oct 29, 1997
$960,000
Stonebrook Mukilteo LLC
Slaughter,ethel K
Grant Deed
$860,000 · Seller
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.
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