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Property profile & analytics
OFF-MARKET
Estimated value
$9,215,000
Specialty properties
9150 Fortuna Dr Mercer Island, WA 98040-3133
Individually Owned
5-yr Hold
Free & Clear
Property ID
US90-1235703
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
293,643 SF
Lot
12.44 ac (541,964 SF)
Zoning code
MF-3
APN
072405-9016
UPID
US90-1235703
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
-
Covenant Living at the Shores Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.22M
Owner & transaction history
Covenant Living West · 5 yrs held
Covenant Living West
since 2020
7 recorded transactions
Zoning & alternative use
MF-3 · Mercer Island, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$31 / 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
$446,527
Tax year 2023
Assessed value
$63,119,800
Assessed 2023
Effective rate
0.71%
On assessed value
Assessed land
$26,176,900
Assessed improvement
$36,942,900
Land market value
$26,176,900
Improvement market value
$36,942,900
Total market value
$63,119,800
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
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
7
Stories
5
Units
237
Total area
293,643 SF
Lot
12.44 ac (541,964 SF)
Zoning code
MF-3
APN
072405-9016
UPID
US90-1235703
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MF-3 · Mercer Island, WA
Zoning MF-3 · permitted uses
MF-3 · 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.
Building & site characteristics
From public records
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
5
Buildings
7
Units
237
Lot
12.44 ac
Current owner
From public records · entity-resolved
Covenant Living West
Individual
Free & Clear · 5 yrs held
Mailing address
9150 FORTUNA DR, MERCER ISLAND, WA 98040-3133
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2020
—
Covenant Living West
—
Deed
related
—
Oct 22, 2019
—
Covenant Living West
—
Deed
related
$45,000,000 · Bank Of New York Mellon T (ce)
Nov 8, 2018
—
Covenant Retirement Communitie
—
Deed
related
—
Feb 1, 2017
—
Covenant Retirement Cmntys Wes
—
Deed
related
$52,070,000 · Bank Of Ny Mellon
—
—
Covenant Retirement Cmntys Wes
—
Loan Modification
related
$22,340,000 · Bank/ny Mellon Tr Co NA (ce)
—
—
Covenant Retirement Cmntys Wes
—
Loan Modification
related
$9,500,000 · Bank/ny Mellon Tr Co NA (ce)
—
—
Covenant Retirement Cmntys Wes
—
Loan Modification
related
$112,805,000 · Bank/ny Mellon Tr Co NA (ce)
—
—
Covenant Retirement Communitie
—
Loan Modification
related
—
—
—
Covenant Living West
—
Loan Modification
related
$45,000,000 · Bank Of New York Mellon T (ce)
—
—
Covenant Retirement Communitie
—
Deed Of Trust
related
$59,165 · Bank Of Ny Mellon Tr Co NA
—
—
Covenant Retirement Cmntys Wes
—
Deed Of Trust
related
—
—
—
Retirement Cmntys Wes Covenant
—
Loan Modification
related
$59,995,000 · Bank Of Ny Mellon Tr Co NA
—
—
Covenant Retirement Cmntys Wes
—
Loan Modification
related
$52,070,000 · Bank Of Ny Mellon
—
—
Covenant Living West
—
Loan Modification
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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