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Property profile & analytics
OFF-MARKET
Estimated value
$2,380,000
Medical Office Space
11545 15th NE Ave, Seattle, WA 98125-6358
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0696113
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,768 SF
Lot
0.33 ac (14,400 SF)
Zoning code
NC2-55 (M)
APN
204450-0320
UPID
US90-0696113
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
-
Phase Heating & Air Conditioning HVAC Service General Contractor
-
Wu Pin-Jung DDS Dental Office
-
Boyd Bender Physician
-
Huynh Minh-Nguyet DDS Dental Office
-
Ellen Passloff MD Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.35M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$2.38M
Owner & transaction history
Ptsm LLC · 5 yrs held
Ptsm LLC
since 2021
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
NC2-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.9M
+47.2%
Auto repair, garage
$1.6M
+19.7%
Retail stores
$1.5M
+16.6%
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
$2,385,000
ML approach
$2,345,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,905,000
Change: +47% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,550,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$1,510,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$2.38M
Range $2.14M – $2.62M · ±10% · vs last sale $2.40M (Apr 19 2021)
Last sale anchor
$2.40M
Apr 19 2021
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
$632 / 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
$18,265
Tax year 2022
Assessed value
$1,913,500
Assessed 2022
Previous assessed
$1,913,500
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$1,224,000
Assessed improvement
$689,500
Land market value
$1,224,000
Improvement market value
$689,500
Total market value
$1,913,500
Applied tax rate
25.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
3,768 SF
Lot
0.33 ac (14,400 SF)
Zoning code
NC2-55 (M)
APN
204450-0320
UPID
US90-0696113
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2-55 (M) · Seattle, WA
Zoning NC2-55 (M) · permitted uses
NC2-55 (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
COMMERCIAL (GENERAL)
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1955
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Ptsm LLC
Entity
Mailing address
11545 15TH AVE NE STE #105, SEATTLE, WA 98125-6358
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 25, 2023
—
Ptsm LLC
—
Deed
related
$2,320,000 · Washington Trust Bank
Apr 19, 2021
$2,395,000
Ptsm LLC
Norht City Investments LLC
Warranty Deed
$2,435,200 · Enterprise Bank & Trust
Dec 30, 2020
—
North City Investments LLC
Northlake Capital & Dev LLC
Quit Claim Deed
related
—
Oct 10, 2018
—
Northlake Capital & Dev LLC
—
Deed
related
$463,500 · Kelly C Wang
Nov 18, 2016
—
Northlake Capital & Dev LLC
—
Deed
related
$420,000 · Don Jack
Sep 26, 2016
$2,000,000
Northlake Capital & Dev LLC
Union Point Center LLC
Warranty Deed
$2,000,000 · Union Point Center LLC
May 31, 2007
—
Union Point Center LLC
Douglass,j Kirk & Joyce B
Quit Claim Deed
related
—
—
—
Northlake Capital & Dev LLC
—
Deed Of Trust
related
$420,000 · Don Jack
—
—
Northlake Capital & Dev LLC
—
Deed Of Trust
related
$463,500 · Kelly C Wang
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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