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Property profile & analytics
OFF-MARKET
Estimated value
$1,680,000
Warehouses
1122 194th St Seatac, WA 98148-2224
Individually Owned
2-yr Hold
Free & Clear
Property ID
US90-0786506
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,900 SF
Lot
0.38 ac (16,500 SF)
Zoning code
CB
APN
052204-9138
UPID
US90-0786506
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.68M
Owner & transaction history
State Of Washington · 2 yrs held
State Of Washington
since 2023
Last sale
$1.7M
4 recorded transactions
Zoning & alternative use
CB · Seatac, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this zone is to provide the highest intensity commercial development outside of the urban center in the form of retail/personal services for a local service area which exceeds the needs of adjacent neighborhood or commercial areas, and to provide retail and personal services on a community oriented basis
Zone name
Community Business
General category
COMMERCIAL
Zone area
32.48 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$2.5M
+71.3%
Auto repair, garage
$2.0M
+39.3%
Retail stores
$2.0M
+35.7%
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 Seatac submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seatac 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
$1,620,000
ML approach
$1,695,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,445,000
Current use
COMMERCIAL (GENERAL)
$2,480,000
Change: +71% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,015,000
Change: +39% · Conversion: Easy
RETAIL STORES
$1,965,000
Change: +36% · Conversion: Moderate
OFFICE BUILDING
$1,730,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$1,685,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$1.68M
Range $1.51M – $1.85M · ±10% · vs last sale $1.70M (Dec 27 2023)
Last sale anchor
$1.70M
Dec 27 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
$343 / 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
$8,161
Tax year 2022
Assessed value
$703,900
Assessed 2022
Previous assessed
$703,900
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$239,200
Assessed improvement
$464,700
Land market value
$239,200
Improvement market value
$464,700
Total market value
$703,900
Applied tax rate
2,231.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Buildings
2
Stories
1
Total area
4,900 SF
Lot
0.38 ac (16,500 SF)
Zoning code
CB
APN
052204-9138
UPID
US90-0786506
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CB · Seatac, WAZoning CB · permitted uses
CB · Seatac, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this zone is to provide the highest intensity commercial development outside of the urban center in the form of retail/personal services for a local service area which exceeds the needs of adjacent neighborhood or commercial areas, and to provide retail and personal services on a community oriented basis
Zone name
Community Business
General category
COMMERCIAL
Zone area
32.48 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.7M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Stories
1
Buildings
2
Lot
0.38 ac
Current owner
From public records · entity-resolved
State Of Washington
Individual
Free & Clear · 2 yrs held
Mailing address
PO BOX 47338, OLYMPIA, WA 98504-7338
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2023
$1,700,000
State Of Washington
S & M Machine LLC
Warranty Deed
—
Nov 13, 2013
$400,000
S & M Machine LLC
Wasson Donald F & M J Trust
Warranty Deed
$360,000 · Wasson Donald F & M J Tr (pt)
Nov 1, 2013
—
Wasson,donald F & Mary J Trust
Wasson,donald F & Mary J
Quit Claim Deed
related
—
Dec 27, 2000
—
Wasson Trust
Wasson,donald F & Mary J
Quit Claim Deed
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.
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