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Property profile & analytics
OFF-MARKET
Estimated value
$1,020,000
Office buildings
1148 Leary Way, Seattle, WA 98107-5133
Individually Owned
21-yr Hold
~
Est. High Equity
Property ID
US90-1627579
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Construction
WOOD
Total area
5,040 SF
Lot
0.33 ac (14,472 SF)
Zoning code
IG2 U/65
APN
276830-1992
UPID
US90-1627579
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
-
DeForest Architects Architect
-
Ore Studios Interior Design Home Decor Store
-
McNae Design Hardware Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$679k
Blend (final)
Blend
$1.02M
Owner & transaction history
Atrium Building/1148 Nw Leary · 21 yrs held
Atrium Building/1148 Nw Leary
since 2004
5 recorded transactions
Zoning & alternative use
IG2 U/65 · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,490,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $918k – $1.12M · ±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
$202 / 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
$20,523
Tax year 2022
Assessed value
$2,244,100
Assessed 2022
Previous assessed
$2,244,100
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$2,243,100
Assessed improvement
$1,000
Land market value
$2,243,100
Improvement market value
$1,000
Total market value
$2,244,100
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
1970
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
5,040 SF
Lot
0.33 ac (14,472 SF)
Zoning code
IG2 U/65
APN
276830-1992
UPID
US90-1627579
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WA
Zoning IG2 U/65 · permitted uses
IG2 U/65 · 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
WAREHOUSE, STORAGE
Est. value
$1.5M
WAREHOUSE, STORAGE
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
1970
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Atrium Building/1148 Nw Leary
Individual
Mailing address
1141 NW 50TH ST, SEATTLE, WA 98107-5120
Ownership since
2004
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
Apr 25, 2012
—
Atrium Building/1148 Nw Leary
—
Deed Of Trust
related
$5,400,000 · Commerce Bank Of Washington
Dec 9, 2004
—
Atrium Building/1148 Nw Leary
Park Industries
Grant Deed
related
—
Jul 7, 1998
—
Park Family Assoc
Ppg Architectural Finishes INC
Grant Deed
$4,387,500 · Us Bank
—
—
Park Industries LP
—
Deed Of Trust
related
$5,150,000 · Commerce Bank Of Washington
—
—
Bldg 1148 Nw Leary Way Atrium
—
Deed Of Trust
related
$411,000 · Commerce Bank Of Washington
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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