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Property profile & analytics
OFF-MARKET
Estimated value
$955,000
Office buildings
105 56th St, Seattle, WA 98105-3737
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0177715
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1915
Construction
WOOD
Total area
2,144 SF
Lot
0.14 ac (6,120 SF)
Zoning code
NR3
APN
385690-5365
UPID
US90-0177715
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
-
Artemesia Healing Arts Medical Clinic Alternative Medicine Practice
-
Four Seasons Healing Medical Clinic Alternative Medicine Practice
-
Tilia Natural Health Alternative Medicine Practice
-
Luminous Physio Medical Clinic
-
Tiny Ninja Massage, Seattle Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$930k
CAP Approach
CAP
$620k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$955k
Owner & transaction history
Backjck LLC · 2 yrs held
Backjck LLC
since 2023
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
NR3 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+43.2%
Auto repair, garage
$880,000
+16.4%
Retail stores
$860,000
+13.5%
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
$1,020,000
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
$670,000
6.5%
$620,000
7%
$575,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$760,000
Current use
COMMERCIAL (GENERAL)
$1,085,000
Change: +43% · Conversion: Easy
AUTO REPAIR, GARAGE
$880,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$860,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$735,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$635,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$955k
Range $860k – $1.05M · ±10% · vs last sale $1.10M (Nov 2 2023)
Last sale anchor
$1.10M
Nov 2 2023
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
$445 / 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
$7,250
Tax year 2022
Assessed value
$800,600
Assessed 2022
Previous assessed
$800,600
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$673,200
Assessed improvement
$127,400
Land market value
$673,200
Improvement market value
$127,400
Total market value
$800,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1915
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
2,144 SF
Lot
0.14 ac (6,120 SF)
Zoning code
NR3
APN
385690-5365
UPID
US90-0177715
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NR3 · Seattle, WA
Zoning NR3 · permitted uses
NR3 · 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
OFFICE BUILDING Current
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$880,000
RETAIL STORES
Est. value
$860,000
MEDICAL BUILDING
Est. value
$735,000
WAREHOUSE, STORAGE
Est. value
$635,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1915
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Backjck LLC
Entity
Mailing address
5512 1ST AVE NE, SEATTLE, WA 98105-3714
Ownership since
2023
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
Nov 2, 2023
$1,100,000
Backjck LLC
Brilliant Corners LLC
Warranty Deed
$990,000 · Jpmorgan Chase Bank NA
Apr 5, 2012
$570,000
Brilliant Corners LLC
105 Building LLC
Warranty Deed
—
May 8, 2007
—
105 Building LLC
Varsity Arms Apartments
Quit Claim Deed
related
$250,000 · Us Bank NA
Dec 1, 1999
$250,000
Varisity Arms Apartments
Robin M Towne & Associates INC
Grant Deed
$216,000 · Columbia State Bank
—
—
105 Building LLC
—
Deed Of Trust
related
$55,000 · Parker Group
—
—
105 Building LLC
—
Deed Of Trust
related
$40,000 · Ritchie Group
—
—
105 Building LLC
—
Deed Of Trust
related
$55,000 · Parker Group
—
—
Varsity Arm Aprartment
—
Deed Of Trust
related
$240,000 · Charter Bank
—
—
105 Building LLC
—
Deed Of Trust
related
$250,000 · Rolfe Q Turnure
—
—
105 Building LLC
—
Deed Of Trust
related
$234,655 · Foundation 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.
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