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    Property profile & analytics

    1015 Republican St Seattle, WA 98102-5017

    • Office buildings
    • 25,750 SF
    • 0.35 lot acres
    OFF-MARKET
    Value Estimations
    $5,460,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3067596
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1015 Republican St

    Year built
    2009
    Construction
    CONCRETE
    Lot size
    0.35 lot acres
    Property size
    25,750 SF
    Zone code
    SM-SLU 175/85-280
    Property type
    Office buildings
    APN
    198320-0260
    APU
    1983200260

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,035,000
      6.5%
      $7,420,000
      7%
      $6,890,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $9,100,000
      Current use
      MEDICAL BUILDING
      $8,855,000
      Change: -3% Conversion: Easy
      WAREHOUSE, STORAGE
      $7,605,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.336
    Latitude
    47.6229
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $99,557
    $11,904,000
    $0.00
    $11,904,000
    -
    $11,904,000
    $0.00
    $11,904,000

    Comparable in this City

    • Value Estimation
      $1,230,000
      7,194 SF

      3245 Fairview E Ave

      OFFICE BUILDING • 7,194 SF
      3245 Fairview E Ave, Seattle, WA 98102-3053
      View Details
    • Value Estimation by Request
      620 SF

      200 Boston St

      OFFICE BUILDING • 620 SF
      200 Boston St, Seattle, WA 98102-3518
      View Details
    • Value Estimation
      $1,210,000
      7,660 SF

      2371 Eastlake E Ave

      OFFICE BUILDING • 7,660 SF
      2371 Eastlake E Ave, Seattle, WA 98102-3305
      View Details
    • Value Estimation
      $1,710,000
      10,494 SF

      2341 Eastlake E Ave

      OFFICE BUILDING • 10,494 SF
      2341 Eastlake E Ave, Seattle, WA 98102-3305
      View Details
    • Value Estimation
      $980,000
      2,184 SF

      2222 Eastlake E Ave

      OFFICE BUILDING • 2,184 SF
      2222 Eastlake E Ave, Seattle, WA 98102-3419
      View Details
    • Value Estimation
      $885,000
      5,217 SF

      3147 Fairview E Ave

      OFFICE BUILDING • 5,217 SF
      3147 Fairview E Ave, Seattle, WA 98102-3019
      View Details

    Similar Nearby for Sale

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      Updated Office Space with Parking

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      Eastlake Office/Retail Condo For Sale

      Office/Retail condo with parking, storage, and EV charger.
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    • $2,825,000

      Capitol Hill Mixed-Use Opportunity

      Mixed-use building in Capitol Hill with office, retail, and housing.
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      Versatile Mixed-Use Building in Seattle

      Flex-oriented mixed-use building in a dynamic, walkable Seattle neighborhood.
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      1,027 SF

      Retail/Office Space in Seattle

      1,027 SqFt retail or office space for sale.
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    Similar Nearby for Lease

    • Contact for pricing
      20,406 SF

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      Class A office space with parking, conference facilities, and more.
      1525 11Th Ave, Seattle, WA 98102
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      Office Space with Lake Views

      Office space for rent with views of Lake Union.
      1500 Fairview Ave E, Seattle, WA 98102
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    • $3,592 /Mo
      1,658 SF

      2341 Eastlake Ave E, Seattle, WA 98102

      Office Units • 1,658 SF
      2341 Eastlake Ave E, Seattle, WA 98102
      View Details
    • $26,483
      11,350 SF

      LEED Certified Office Space

      Office space with views, easy access, and modern amenities.
      1910 Fairview Ave E, Seattle, WA 98102
      View Details
    • $2,385 /Mo
      1,022 SF

      Eastlake Retail/Office Space Available

      Retail/office space in Eastlake with natural light and storage.
      1550 Eastlake Ave, Seattle, WA 98102
      View Details
    • $7,909 /Mo
      2,876 SF

      Renovated Office with Lake Union View

      Turn-key office suite with lake views and secure access.
      2341 Eastlake Ave E, Seattle, WA 98102
      View Details
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    1015 Republican St
    Seattle, WA 98102-5017
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    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
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