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Property profile & analytics
OFF-MARKET
Estimated value
$6,900,000
Manufacturing properties
1041 Elliott W Ave, Seattle, WA 98119
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-3099294
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1927
Construction
WOOD
Total area
10,800 SF
Lot
0.64 ac (27,770 SF)
Zoning code
IC-65 (M)
APN
766620-1980
UPID
US90-3099294
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
-
Expedia Hub Logistics Company Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.30M
Blend (final)
Blend
$6.90M
Owner & transaction history
Pp&g Properties LLC · 4 yrs held
Pp&g Properties LLC
since 2022
Last sale
$8.3M
3 recorded transactions
Zoning & alternative use
IC-65 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.7M
+85.8%
Commercial (general)
$5.5M
+79.1%
Auto repair, garage
$4.4M
+45.6%
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
$6,765,000
ML approach
$6,780,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$5,670,000
Change: +86% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,465,000
Change: +79% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,445,000
Change: +46% · Conversion: Easy
RETAIL STORES
$4,330,000
Change: +42% · Conversion: Moderate
Blend value · Realmo final
$6.90M
Range $6.21M – $7.59M · ±10% · vs last sale $8.33M (Apr 8 2022)
Last sale anchor
$8.33M
Apr 8 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
$639 / 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
$50,347
Tax year 2022
Assessed value
$5,555,000
Assessed 2022
Previous assessed
$5,555,000
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$5,554,000
Assessed improvement
$1,000
Land market value
$5,554,000
Improvement market value
$1,000
Total market value
$5,555,000
Applied tax rate
10.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1927
Construction
WOOD
Heating
SPACE
Buildings
3
Stories
1
Total area
10,800 SF
Lot
0.64 ac (27,770 SF)
Zoning code
IC-65 (M)
APN
766620-1980
UPID
US90-3099294
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IC-65 (M) · Seattle, WA
Zoning IC-65 (M) · permitted uses
IC-65 (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
RESTAURANT
Est. value
$5.7M
COMMERCIAL (GENERAL)
Est. value
$5.5M
AUTO REPAIR, GARAGE
Est. value
$4.4M
RETAIL STORES
Est. value
$4.3M
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1927
Construction
WOOD
Heating
SPACE
Stories
1
Buildings
3
Lot
0.64 ac
Current owner
From public records · entity-resolved
Pp&g Properties LLC
Entity
Free & Clear · 4 yrs held
Mailing address
945 ELLIOTT AVE W STE #100, SEATTLE, WA 98119-3686
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2022
$8,325,000
Pp&g Properties LLC
Steven Ritt
Bargain And Sale Deed
—
Aug 14, 1989
—
Steven Ritt
Rosen-ritt,lauri
Quit Claim Deed
related
—
Aug 14, 1989
$650,000
Ritt,steven
Strahm
Trustees Deed
—
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.
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