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Property profile & analytics
OFF-MARKET
Estimated value
$1,080,000
Specialty properties
8815 40th St Mercer Island, WA 98040-3608
Individually Owned
15-yr Hold
Free & Clear
Property ID
US90-1659480
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
1973
Construction
WOOD
Total area
16,908 SF
Lot
1.64 ac (71,610 SF)
Zoning code
P
APN
182405-9043
UPID
US90-1659480
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
-
Mary Wayte Pool Swimming Pool Hardware & Home Improvement
-
Mercet Swim Place Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$1.08M
Owner & transaction history
Mercer Island School District · 15 yrs held
Mercer Island School District
since 2011
2 recorded transactions
Zoning & alternative use
P · Mercer Island, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+59.5%
Retail stores
$1.7M
+53.0%
Apartment house (5+ units)
$1.6M
+47.1%
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 Mercer Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mercer Island 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$1,080,000
Current use
COMMERCIAL (GENERAL)
$1,725,000
Change: +60% · Conversion: Difficult
RETAIL STORES
$1,655,000
Change: +53% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,590,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$1,430,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $972k – $1.19M · ±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
$64 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$19
Tax year 2022
Applied tax rate
1,031.0000
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
1973
Construction
WOOD
Heating
HOT WATER
Stories
1
Total area
16,908 SF
Lot
1.64 ac (71,610 SF)
Zoning code
P
APN
182405-9043
UPID
US90-1659480
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
P · Mercer Island, WA
Zoning P · permitted uses
P · Mercer Island, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mercer Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.7M
RETAIL STORES
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.4M
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1973
Construction
WOOD
Heating
HOT WATER
Stories
1
Lot
1.64 ac
Current owner
From public records · entity-resolved
Mercer Island School District
Individual
Free & Clear · 15 yrs held
Mailing address
4160 86TH AVE SE, MERCER ISLAND, WA 98040-4121
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 7, 2011
—
Mercer Island School District
Northwest Center Of Retarded
Quit Claim Deed
related
—
Dec 31, 2002
—
Northwest Center For The Retar
King County (wa)
Grant Deed
related
—
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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