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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Retail space
11 Mcgraw St Seattle, WA 98119-2643
Individually Owned
~
Est. High Equity
Property ID
US90-0325768
Property summary
AI-generated overview
This exceptional Queen Anne property at 11 W McGraw St, Seattle, WA 98119, presents a unique redevelopment opportunity. The 3,600 sq ft lot (APN 179450-0110) features a two-story, 1908 building, renovated in 1995, currently operating as a short-term rental, providing interim income. The NC2P-55(M) zoning allows for a maximum Floor Area Ratio of 3.75, ideal for creating townhouses, condominiums, or apartments. Situated in a highly desirable Upper Queen Anne neighborhood, this location boasts excellent proximity to restaurants, services, and businesses along Queen Anne Avenue and W McGraw Street. The property's strong activation potential and coveted commercial zoning make it an attractive investment, capitalizing on the area's continued growth and desirability. This is a rare chance to acquire an in-fill redevelopment site in one of Seattle's most sought-after residential and amenity-rich areas. The asking price is $2,490,000.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1908
Construction
FRAME
Total area
3,144 SF
Lot
0.08 ac (3,600 SF)
Zoning code
NC2P-55 (M)
APN
179450-0110
UPID
US90-0325768
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
-
Perdichizzi Andrew Alternative Medicine Practice Spa & Massage Center
-
Water Lodge Homestay
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$675k
CAP Approach
CAP
$720k
Comparable Approach
Comparable
$497k
Blend (final)
Blend
$675k
Owner & transaction history
Devin M Sullivan
Devin M Sullivan
since 2025
Last sale
$676,000
5 recorded transactions
Zoning & alternative use
NC2P-55 (M) · 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
Method
Estimation
Statistic approach
$675,000
ML approach
$675,000
CAP Approach
CAP Return
Estimation
6%
$780,000
6.5%
$720,000
7%
$670,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,110,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$1,080,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $676k (May 6 2024)
Last sale anchor
$676k
May 6 2024
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
$215 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$19,392
Tax year 2024
Assessed value
$1,890,500
Assessed 2023
Previous assessed
$1,890,500
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$900,000
Assessed improvement
$990,500
Land market value
$900,000
Improvement market value
$990,500
Total market value
$1,890,500
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1908
Construction
FRAME
Heating
FORCED AIR
Buildings
2
Stories
2
Total area
3,144 SF
Lot
0.08 ac (3,600 SF)
Zoning code
NC2P-55 (M)
APN
179450-0110
UPID
US90-0325768
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2P-55 (M) · Seattle, WA
Zoning NC2P-55 (M) · permitted uses
NC2P-55 (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
OFFICE BUILDING
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
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
1908
Construction
FRAME
Heating
FORCED AIR
Stories
2
Buildings
2
Lot
0.08 ac
Current owner
From public records · entity-resolved
Devin M Sullivan
Individual
Mailing address
2021 2ND AVE N, SEATTLE, WA 98109-2507
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2025
—
Devin M Sullivan
Karen A Willie
Deed
—
May 6, 2024
—
Karen A Willie
Willie Investments LLC
Intrafamily Transfer
related
—
Apr 3, 2018
—
Willie Investments LLC
Willie,karen A
Quit Claim Deed
related
—
Aug 1, 2001
$676,000
Karen A Willie
Rutherford,dale R
Grant Deed
$540,800 · Bank Of America
—
—
Karen A Willie
—
Deed Of Trust
related
$401,484 · Key Bank NA
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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