Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1 St & Myers Way Seattle, WA 98108
    Property profile & analytics

    1 St & Myers Way Seattle, WA 98108

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1 St & Myers Way

    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 0-unit industrial land parcel, priced at $99,800, presents a rare opportunity in Seattle's competitive commercial market. Located at the intersection of 1st and Myers Way South in King County, WA (zip code 98108), this property boasts a highly visible position on a major thoroughfare, ensuring maximum exposure for any business venture. Thousands of vehicles pass this location daily, providing unparalleled brand visibility within a thriving commercial area. The property's strategic location to the right of the Church at 9500 Myers Way South further enhances its accessibility and prominence. This is a truly unique chance to establish a presence in a bustling Seattle neighborhood at an exceptionally competitive price point. Given the scarcity of comparable commercial land available in Seattle at this price, this offering represents a significant investment opportunity. Buyers are responsible for verifying all provided information independently. The property is classified as industrial land and is situated at latitude 47.5405059 and longitude -122.3045438.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.305
    Latitude
    47.5405

    Comparable in this City

    • Value Estimation by Request

      635 Edmunds St

      Distribution properties
      635 Edmunds St, Seattle, WA 98108
      View Details
    • Value Estimation by Request
      7.87 Acres

      Beacon Hl

      Land • 7.87 Acres
      0 Beacon Hl, Seattle, WA 98108
      View Details
    • Value Estimation by Request
      1.96 Acres

      3 Hahn Pl

      Land • 1.96 Acres
      3 Hahn Pl, Seattle, WA 98108
      View Details
    • Value Estimation by Request
      1.83 Acres

      Seattle, WA 98108

      INDUSTRIAL (GENERAL) • 1.83 Acres
      Seattle, WA 98108
      View Details
    • Value Estimation by Request
      2.12 Acres

      8105 1st S Ave

      INDUSTRIAL (GENERAL) • 2.12 Acres
      8105 1st S Ave, Seattle, WA 98108-4202
      View Details
    • Value Estimation by Request
      0.11 Acres

      758 Chicago St

      HEAVY INDUSTRIAL • 0.11 Acres
      758 Chicago St, Seattle, WA 98108-4321
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,117 SF

      Seattle Industrial Property For Sale

      6,117 SF industrial property available in Seattle, Washington.
      253 S Holden St, Seattle, WA 98108
      View Details
    • $1,900,000

      Georgetown Industrial Investment Opportunity

      Rare value-add investment in Seattle's Georgetown industrial market.
      6348 6Th Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing
      3,546 SF

      Seattle Land Parcel For Sale

      Land parcel available in Seattle, Washington.
      5825 Airport Way S, Seattle, WA 98108
      View Details
    • $2,750,000

      Full-Block SODO Industrial Property

      Rare full-block industrial property in Seattle's dynamic SODO district.
      4000 7Th Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing

      Seattle Industrial Outdoor Storage Land

      18 acres of fenced, secured industrial land for lease.
      8531 E Marginal Way S, Seattle, WA 98108
      View Details
    • Contact for pricing

      Seattle Fenced Industrial Yard

      Gravel yard with remodeled garage/office near Port of Seattle.
      9128 10Th Ave S, Seattle, WA 98108
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,080 SF

      Industrial Space in Seattle Available

      Industrial property available for rent in Seattle, Washington.
      401-415 S Brandon St, Seattle, WA 98108
      View Details
    • Contact for pricing

      Industrial Space in Georgetown, Seattle

      Industrial property available for lease in Seattle's Georgetown neighborhood.
      111 S Findlay St, Seattle, WA 98108
      View Details
    • Contact for pricing

      Land Available For Lease

      Land available for lease at 9229 E Marginal Way S, Seattle.
      9229 E Marginal Way S, Seattle, WA 98108
      View Details
    • Contact for pricing

      Office, Shop, and Yard Space

      Office, small shop, and fenced yard available for lease.
      9128 10Th Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing

      Industrial Space Available For Lease

      73,701 square feet of industrial space for lease.
      5400-5510 Airport Way S, Seattle, WA 98108
      View Details
    • $24,730
      61,824 SF

      Seattle Yard with Garage/Office

      Gravel yard with remodeled garage/office near Port of Seattle.
      9128 10Th Ave S, Seattle, WA 98108
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1 St & Myers Way
    Seattle, WA 98108
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1 St & Myers Way, Seattle, WA, 98108
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!