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Property profile & analytics
OFF-MARKET
Estimated value
$3,195,000
Office buildings
1115 Northlake Way, Seattle, WA 98103-8993
Entity Owned
Free & Clear
Property ID
US90-0948300
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Construction
WOOD
Total area
9,048 SF
Lot
0.56 ac (24,434 SF)
Zoning code
C2-30
APN
408880-4525
UPID
US90-0948300
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
-
Mariner's General Insurance Group Insurance Agency
-
NanoFlow Services Distribution Center Logistics Company
-
Boat Detail Northwest (Bike/Boat/Book/etc) Store
-
Pacific Coast Yachting Services (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.55M
Comparable Approach
Comparable
$3.24M
Blend (final)
Blend
$3.20M
Owner & transaction history
United Marine Holdings INC
United Marine Holdings INC
since 2025
Last sale
$3.0M
3 recorded transactions
Zoning & alternative use
C2-30 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.8M
+32.6%
Auto repair, garage
$3.7M
+3.9%
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%
$3,840,000
6.5%
$3,545,000
7%
$3,290,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,580,000
Current use
RESTAURANT
$4,750,000
Change: +33% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,720,000
Change: +4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,210,000
Change: -10% · Conversion: Easy
MEDICAL BUILDING
$3,110,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$3.20M
Range $2.88M – $3.51M · ±10% · vs last sale $3.00M (Jul 27 2025)
Last sale anchor
$3.00M
Jul 27 2025
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
$353 / 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
$23,799
Tax year 2022
Assessed value
$2,929,000
Assessed 2022
Previous assessed
$2,929,000
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$538,000
Assessed improvement
$2,391,000
Land market value
$538,000
Improvement market value
$2,391,000
Total market value
$2,929,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1920
Construction
WOOD
Heating
NONE
Stories
2
Total area
9,048 SF
Lot
0.56 ac (24,434 SF)
Zoning code
C2-30
APN
408880-4525
UPID
US90-0948300
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C2-30 · Seattle, WA
Zoning C2-30 · permitted uses
C2-30 · 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
$3.6M
RESTAURANT
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$3.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$3.1M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1920
Construction
WOOD
Heating
NONE
Stories
2
Lot
0.56 ac
Current owner
From public records · entity-resolved
United Marine Holdings INC
Entity
Free & Clear · 0 yrs held
Mailing address
1621 114TH AVE SE STE #228, BELLEVUE, WA 98004-6905
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2025
$3,000,000
United Marine Holdings INC
Ocean Alexander Marine Center INC
Warranty Deed
—
Dec 2, 1991
$1,501,728
Alexander Ocean
Schei,jerry D&kr
Grant Deed
—
Oct 29, 1990
$1,650,000
Jerry Schei
Dunato
Grant Deed
$1,254,000 · Seller
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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