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Property profile & analytics
FOR LEASE
Commercial real estate
9623 32Nd St Southeast Lake Stevens, WA 98258
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-0807870
For Lease
1 / 2
Contact for pricing
9623 32Nd St Southeast, Lake Stevens, WA 98258
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Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
1920
Construction
WOOD
Total area
4,102 SF
Zoning code
RB
APN
945200000100
UPID
US90-0807870
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$870k
Comparable Approach
Comparable
$669k
Blend (final)
Blend
$825k
Owner & transaction history
Above Fence LLC · 9 yrs held
Above Fence LLC
since 2017
7 recorded transactions
Zoning & alternative use
RB · Lake Stevens, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.3M
+37.7%
Warehouse, storage
$1.3M
+31.1%
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 Lake Stevens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Stevens 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%
$945,000
6.5%
$870,000
7%
$810,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$965,000
Current use
RETAIL STORES
$1,330,000
Change: +38% · Conversion: Easy
WAREHOUSE, STORAGE
$1,265,000
Change: +31% · Conversion: Difficult
Blend value · Realmo final
$825k
Range $743k – $908k · ±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
$201 / 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
$11,104
Tax year 2023
Assessed value
$1,260,000
Assessed 2023
Previous assessed
$1,227,000
+2.7% YoY
Effective rate
0.88%
On assessed value
Assessed land
$904,500
Assessed improvement
$355,500
Land market value
$904,500
Improvement market value
$355,500
Total market value
$1,260,000
Applied tax rate
3,162.0000
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
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
For Lease
Year built
1920
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
1
Bathrooms
1
Total area
4,102 SF
Zoning code
RB
APN
945200000100
UPID
US90-0807870
Jurisdiction
SNOHOMISH
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
RB · Lake Stevens, WAZoning RB · permitted uses
RB · Lake Stevens, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$965,000
RETAIL STORES
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
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
1920
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Current owner
From public records · entity-resolved
Above Fence LLC
Entity
Mailing address
9623 32ND ST SE STE A101, LAKE STEVENS, WA 98258-5784
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2024
—
Highway 9 Professional Center LLC
—
Deed
related
$750,000 · Mountain Pacific Bank
Jul 28, 2021
—
Ljb Lake Stevens LLC
—
Deed
related
$1,425,797 · Wells Fargo Bank NA
Jan 10, 2019
—
Above Fence LLC
—
Deed
related
$635,000 · Bank Of Wa
Jul 18, 2017
$959,750
Above Fence LLC
Highway 9 Office Park Center L
Warranty Deed
$600,000 · Saints Capital LLC
Feb 1, 2017
—
Highway 9 Office Park Ctr LLC
—
Deed
related
$250,000 · J&j Dakota LLC
Sep 30, 2016
$3,250,000
Wtl Properties LLC
Highway 9 Office Park Ctr LLC
Warranty Deed
$2,112,500 · Boeing Emps Cu
Mar 24, 2016
$665,000
Highway 9 Professional Ctr LLC
Highway 9 Office Park Ctr LLC
Warranty Deed
related
$265,000 · Boeing Emps Cu
—
—
David Allegre
—
Deed Of Trust
related
$570,000 · J&j Dakota LLC
—
—
Highway 9 Office Park Center L
—
Deed Of Trust
related
$626,500 · Frontier Bank
—
—
Highway 9 Office Park Ctr LLC
—
Deed Of Trust
related
$3,525,000 · Transamerica Life Insurance Co
—
—
Highway 9 Office Park Ctr LLC
—
Deed Of Trust
related
$750,000 · Horizon 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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