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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Retail space
1111 85th St Seattle, WA 98117-3319
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-3243808
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1934
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,090 SF
Lot
0.08 ac (3,636 SF)
Zoning code
LR2 RC (M)
APN
937630-0830
UPID
US90-3243808
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
-
Ballard Blossom (Bike/Boat/Book/etc) Store Florist
-
Honolds Ornamental Ironwork General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$710k
Comparable Approach
Comparable
$439k
Blend (final)
Blend
$670k
Owner & transaction history
Mk Martin LLC · 6 yrs held
Mk Martin LLC
since 2019
7 recorded transactions
Zoning & alternative use
LR2 RC (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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$770,000
6.5%
$710,000
7%
$660,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,090,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$1,060,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±10%
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
$217 / 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
$11,914
Tax year 2022
Assessed value
$1,380,800
Assessed 2022
Previous assessed
$1,380,800
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$709,000
Assessed improvement
$671,800
Land market value
$709,000
Improvement market value
$671,800
Total market value
$1,380,800
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
1934
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
3,090 SF
Lot
0.08 ac (3,636 SF)
Zoning code
LR2 RC (M)
APN
937630-0830
UPID
US90-3243808
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LR2 RC (M) · Seattle, WA
Zoning LR2 RC (M) · permitted uses
LR2 RC (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
1934
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
Mk Martin LLC
Entity
Mailing address
PO BOX 70587, SEATTLE, WA 98127-0587
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2019
$1,350,000
Mk Martin LLC
Roy Street Management LLC
Warranty Deed
$1,080,000 · Banner Bank
Jul 2, 2019
—
Roy Street Management LLC
—
Trustees Deed
related
$425,000 · Matthew J Carrol
Jul 28, 2016
$1,300,000
Roy Street Management LLC
Honold Properties LLC
Warranty Deed
$800,000 · Seattle Funding Group Ltd
Jul 15, 2015
—
Noren Dev LLC
Honold Properties LLC
Grant Deed
—
Aug 15, 2006
$1,035,000
Honold Properties LLC
Greenwood 1111 LLC
Warranty Deed
$517,500 · Bank Of America
Nov 15, 2001
—
Greenwood Iiii LLC
B U F J O B Partnership
Quit Claim Deed
related
—
—
—
Bufjob Partnership
—
Deed Of Trust
related
$50,000 · Coastal Community 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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