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Property profile & analytics
FOR LEASE
Office buildings
1111 3Rd Ave Seattle, WA 98101
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-0429521
No photos on file
For Lease
$3,680,000
1111 3Rd Ave, Seattle, WA 98101
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Construction
STEEL FRAME
Total area
776,762 SF
Lot
0.66 ac (28,560 SF)
Zoning code
DOC1 U/450/U
APN
094200-0050
UPID
US90-0429521
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
-
FTI Consulting Business Management Consultant Consultant
-
Moz (Bike/Boat/Book/etc) Store Corporate Office
-
Changepoint (Bike/Boat/Book/etc) Store Corporate Office
-
Community Health Plan of Washington Insurance Agency
-
BB's Teriyaki Grill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.68M
Owner & transaction history
Spring & 1111 Third Prop Sea · 7 yrs held
Spring & 1111 Third Prop Sea
since 2018
7 recorded transactions
Zoning & alternative use
DOC1 U/450/U · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$5 / 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
$2,275,642
Tax year 2022
Assessed value
$279,625,000
Assessed 2022
Previous assessed
$279,625,000
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$44,268,000
Assessed improvement
$235,357,000
Land market value
$44,268,000
Improvement market value
$235,357,000
Total market value
$279,625,000
Applied tax rate
11.0000
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
For Lease
Year built
1980
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
34
Total area
776,762 SF
Lot
0.66 ac (28,560 SF)
Zoning code
DOC1 U/450/U
APN
094200-0050
UPID
US90-0429521
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DOC1 U/450/U · Seattle, WA
Zoning DOC1 U/450/U · permitted uses
DOC1 U/450/U · 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.
Building & site characteristics
From public records
Year built
1980
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
34
Lot
0.66 ac
Current owner
From public records · entity-resolved
Spring & 1111 Third Prop Sea
Individual
Mailing address
601 S FIGUEROA ST STE #2150, LOS ANGELES, CA 90017-5787
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 20, 2018
$274,450,000
Spring & 1111 Third Prop Sea
1111 Third Property Owner LLC
Grant Deed
$216,000,000 · Metlife R/e Lndg LLC
Feb 2, 2015
—
1111 Third Property Owner LLC|second & Spring Prop
—
Grant Deed
related
$169,000,000 · Landesbank Hessen Thueringen
Nov 21, 2014
$219,950,000
1111 Third Property Owner LLC
W2007 Seattle Office 1111 Thir
Grant Deed
—
Apr 24, 2007
$240,000,000
W2007 Seattle Office 1111 Third Ave
Wa-1111 Third Avenue LLC
Special Warranty Deed
—
Mar 20, 2006
—
Wa-1111 Third Avenue LLC
Eop-northwest Properties LLC
Warranty Deed
—
Aug 15, 2001
$1,352,900
Real Estate Fund Sentinel
—
Grant Deed
related
—
Jul 6, 2001
$5,184,000
Jessie Christiansen Estate
—
Grant Deed
related
—
Dec 19, 1997
—
Eop Northwest Properties II
Wright Runstad Properties LP
Quit Claim Deed
related
—
Dec 28, 1995
—
Wright Runstad Properties LP
1111 Building LP
Grant Deed
related
—
—
—
W2007 Seattle Office 1111 Th
—
Loan Modification
related
$462,487,746 · Wells Fargo Bk #2007-tfl2 (ce)
—
—
W2007 Seattle Office 1111 Th|w2007 Seattle Office
—
Loan Modification
related
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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