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Property profile & analytics
OFF-MARKET
Estimated value
$2,970,000
Hotels
1007 1st Ave, Seattle, WA 98104-1007
Trust Owned
9-yr Hold
Free & Clear
Property ID
US90-3326300
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1904
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
79,200 SF
Lot
0.31 ac (13,311 SF)
Zoning code
DMC-170
APN
197460-0035
UPID
US90-3326300
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
-
1007 1st Ave Parking Parking Lot & Garage
-
The Bookstore: Spirits, Wine, Food Grocery & Convenience Store Food Market
-
Blink Charging Station Electric Vehicle Charging Station
-
J Henderson's - An American Brasserie Grocery & Convenience Store Food Market
-
The Alexis Royal Sonesta Hotel Seattle Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.97M
Owner & transaction history
Hpt Ihg-2 Properties Trust · 9 yrs held
Hpt Ihg-2 Properties Trust
since 2017
6 recorded transactions
Zoning & alternative use
DMC-170 · Seattle, 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 Seattle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seattle 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
$38 / 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
$206,964
Tax year 2022
Assessed value
$25,180,700
Assessed 2022
Previous assessed
$25,180,700
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$8,186,200
Assessed improvement
$16,994,500
Land market value
$8,186,200
Improvement market value
$16,994,500
Total market value
$25,180,700
Applied tax rate
11.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1904
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
5
Total area
79,200 SF
Lot
0.31 ac (13,311 SF)
Zoning code
DMC-170
APN
197460-0035
UPID
US90-3326300
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DMC-170 · Seattle, WA
Zoning DMC-170 · permitted uses
DMC-170 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1904
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
5
Lot
0.31 ac
Current owner
From public records · entity-resolved
Hpt Ihg-2 Properties Trust
Trust
Free & Clear · 9 yrs held
Mailing address
1007 1ST AVE, SEATTLE, WA 98104-1007
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 3, 2017
$62,313,750
Hpt Ihg-2 Properties Trust
Lho Alexis Hotel LLC
Grant Deed
—
Jul 17, 2015
$149,808
Tilt49 Office Developers LLC
First Alexis Tdr LLC
Warranty Deed
—
Jun 8, 2011
—
First Alexis Tdr LLC
First Alexis Hotel LP
Quit Claim Deed
—
Jun 16, 2006
$37,817,492
Lho Alexis Hotel LLC
First Alexis Hotel
Grant Deed
—
Oct 8, 1998
$1,500,000
First Alexis Hotel LP
Htk Management LLC
Grant Deed
related
—
Jun 26, 1998
—
First Alexis Hotel LP
—
Deed Of Trust
related
$17,000,000 · Chase Manhattan 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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