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Property profile & analytics
FOR LEASE
Office buildings
Mercer Pl, Mercer Island, WA 98040
Trust Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-0454951
For Lease
1 / 8
$900/Mo
Mercer Pl, Mercer Island, WA 98040
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1961
Construction
WOOD
Total area
5,006 SF
Lot
0.34 ac (14,910 SF)
Zoning code
TC
APN
545230-0365
UPID
US90-0454951
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
-
Island Hi Fi Electronics & Wireless Store
-
Space:Aligned Alternative Medicine Practice Spa & Massage Center
-
Sean Seery LAc LMP Alternative Medicine Practice Acupuncture
-
Dynamic Balance Acupuncture/Natural Health Medical Clinic Alternative Medicine Practice
-
Mercer Island Acupuncture Clinic Medical Clinic Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.73M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.34M
Owner & transaction history
Sundberg,gloria C Trust · 11 yrs held
Sundberg,gloria C Trust
since 2015
6 recorded transactions
Zoning & alternative use
TC · Mercer Island, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.0M
+4.8%
Retail stores
$2.0M
+4.1%
Industrial (general)
$1.9M
+1.2%
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%
$1,875,000
6.5%
$1,730,000
7%
$1,610,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,885,000
Current use
MEDICAL BUILDING
$1,975,000
Change: +5% · Conversion: Easy
RETAIL STORES
$1,965,000
Change: +4% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,910,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,735,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$1.34M
Range $1.20M – $1.47M · ±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
$267 / 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
$18,978
Tax year 2022
Assessed value
$3,093,300
Assessed 2022
Previous assessed
$3,093,300
+0.0% YoY
Effective rate
0.61%
On assessed value
Assessed land
$2,534,700
Assessed improvement
$558,600
Land market value
$2,534,700
Improvement market value
$558,600
Total market value
$3,093,300
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1961
Construction
WOOD
Heating
FORCED AIR
Stories
2
Total area
5,006 SF
Lot
0.34 ac (14,910 SF)
Zoning code
TC
APN
545230-0365
UPID
US90-0454951
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TC · Mercer Island, WA
Zoning TC · permitted uses
TC · 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
OFFICE BUILDING Current
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$2.0M
RETAIL STORES
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1961
Construction
WOOD
Heating
FORCED AIR
Stories
2
Lot
0.34 ac
Current owner
From public records · entity-resolved
Sundberg,gloria C Trust
Trust
Mailing address
PO BOX 755, MERCER ISLAND, WA 98040-0755
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
Oct 21, 2016
—
Shanyu LLC
—
Deed
related
$1,205,000 · Plaza Bank
Feb 27, 2015
—
Sundberg,gloria C Trust
Sundberg Gloria
Quit Claim Deed
related
—
Feb 27, 2015
$2,115,000
Shanyu LLC
Winberg Jay
Warranty Deed
—
Nov 16, 2009
—
Jay Winberg
Sundberg G C Credit Trust
Quit Claim Deed
related
—
Sep 15, 2008
—
Sundberg Gloria C Credit Trust
Sundberg Gloria
Quit Claim Deed
related
—
Dec 20, 2007
—
Gloria Sundberg
Rainier Mercantile
Quit Claim 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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