New search
Property profile & analytics
OFF-MARKET
Estimated value
$54,440,000
Hotels
1011 Pike St, Seattle, WA 98101-3374
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0038475
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1991
Construction
CONCRETE
Total area
158,676 SF
Lot
0.7 ac (30,299 SF)
Zoning code
NC3P-95 (M)
APN
066000-1832
UPID
US90-0038475
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
-
Avis Car Rental Car Rental Facility
-
Homewood Suites Hilton Parking Lot & Garage
-
Bounce Luggage Storage (Reserve Online) Storage Facility
-
Budget Car Rental Car Rental Facility
-
king street station Freight Service Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$49.17M
Blend (final)
Blend
$54.44M
Owner & transaction history
Avia Sea Pike LLC · 4 yrs held
Avia Sea Pike LLC
since 2022
Last sale
$59.9M
7 recorded transactions
Zoning & alternative use
NC3P-95 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$83.3M
+58.4%
Commercial (general)
$80.3M
+52.7%
Auto repair, garage
$65.3M
+24.2%
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 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
Method
Estimation
Statistic approach
$48,695,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$52,580,000
Current use
RESTAURANT
$83,270,000
Change: +58% · Conversion: Difficult
COMMERCIAL (GENERAL)
$80,290,000
Change: +53% · Conversion: Difficult
AUTO REPAIR, GARAGE
$65,280,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$63,625,000
Change: +21% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$56,275,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$56,075,000
Change: +7% · Conversion: Difficult
MEDICAL BUILDING
$54,560,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$54.44M
Range $49.00M – $59.88M · ±10% · vs last sale $59.94M (Jun 24 2022)
Last sale anchor
$59.94M
Jun 24 2022
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
$343 / 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
$495,549
Tax year 2022
Assessed value
$60,331,700
Assessed 2022
Previous assessed
$60,331,700
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$24,239,200
Assessed improvement
$36,092,500
Land market value
$24,239,200
Improvement market value
$36,092,500
Total market value
$60,331,700
Applied tax rate
13.0000
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
1991
Construction
CONCRETE
Heating
HEAT PUMP
Stories
8
Total area
158,676 SF
Lot
0.7 ac (30,299 SF)
Zoning code
NC3P-95 (M)
APN
066000-1832
UPID
US90-0038475
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3P-95 (M) · Seattle, WA
Zoning NC3P-95 (M) · permitted uses
NC3P-95 (M) · 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.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$52.6M
RESTAURANT
Est. value
$83.3M
COMMERCIAL (GENERAL)
Est. value
$80.3M
AUTO REPAIR, GARAGE
Est. value
$65.3M
RETAIL STORES
Est. value
$63.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$56.3M
OFFICE BUILDING
Est. value
$56.1M
MEDICAL BUILDING
Est. value
$54.6M
HOTEL/MOTEL Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
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
1991
Construction
CONCRETE
Heating
HEAT PUMP
Stories
8
Lot
0.7 ac
Current owner
From public records · entity-resolved
Avia Sea Pike LLC
Entity
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2022
$59,944,432
Avia Sea Pike LLC
Chsp Seattle LLC
Special Warranty Deed
$57,000,000 · Fs Creit Originator LLC
Oct 14, 2011
—
Chsp Seattle LLC
—
Deed Of Trust
related
$300,000,000 · Wells Fargo Bank
May 3, 2011
$51,839,722
Chsp Seattle LLC
Aew Sbco Seattle LLC
Grant Deed
—
Jun 12, 2006
$29,300,000
Aew Sbco Seattle LLC
Fan Pier Land
Warranty Deed
$28,400,000 · Capmark Bank
Jan 18, 2006
$28,900,000
Fan Pier Land Co
Seattle Summerfield Owners LLC
Warranty Deed
—
Dec 29, 2004
$18,740,000
Seattle Summerfield Owners LLC
S-seattle LLC
Grant Deed
related
$77,250,000 · Lehman Brothers Bank Fsb
Apr 2, 1996
$25,327,800
Patriot American Hospitality P
Plaza Park Suites INC
Grant Deed
—
Nov 20, 1990
—
Plaza Park Suites INC
Canterwood Devel
Grant Deed
related
—
—
—
Chsp Seattle LLC
—
Deed Of Trust
related
$200,000 · Wells Fargo Bank
—
—
S-seattle LLC
—
Deed Of Trust
related
$23,000,000 · Lehman Brothers Holdings INC
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?”
You own 1011 Pike St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
