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Property profile & analytics
OFF-MARKET
Estimated value
$5,590,000
Distribution centers
1201 96th St Seattle, WA 98103-3309
Individually Owned
28-yr Hold
Free & Clear
Property ID
US90-0985360
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
53,472 SF
Lot
1.62 ac (70,687 SF)
Zoning code
NC3P-75 (M)
APN
312604-9011
UPID
US90-0985360
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
-
Dr. Lydia Cannon, DDS Physician
-
Iron Mountain Recycling Center Waste Management Facility
-
Dr. Lindsay Knight, DDS Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.59M
Owner & transaction history
Iron Mountain Records Manageme · 28 yrs held
Iron Mountain Records Manageme
since 1998
4 recorded transactions
Zoning & alternative use
NC3P-75 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping district that serves the surrounding neighborhood and a larger community, citywide, or regional clientele; that provides comparison shopping for a wide range of retail goods and services; that incorporates offices, business supp…
Zone name
Neighborhood Commercial Pedestrian Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
268.53 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$105 / 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
$73,593
Tax year 2022
Assessed value
$7,423,100
Assessed 2022
Previous assessed
$7,423,100
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$7,422,100
Assessed improvement
$1,000
Land market value
$7,422,100
Improvement market value
$1,000
Total market value
$7,423,100
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Total area
53,472 SF
Lot
1.62 ac (70,687 SF)
Zoning code
NC3P-75 (M)
APN
312604-9011
UPID
US90-0985360
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3P-75 (M) · Seattle, WAZoning NC3P-75 (M) · permitted uses
NC3P-75 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping district that serves the surrounding neighborhood and a larger community, citywide, or regional clientele; that provides comparison shopping for a wide range of retail goods and services; that incorporates offices, business support services, and residences that are compatible with the retail character of the area. The Pedestrian designation is to preserve or encourage an intensely retail and pedestrian-oriented shopping district where non-auto modes of transportation to and within the district are strongly favored. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Neighborhood Commercial Pedestrian Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
268.53 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Lot
1.62 ac
Current owner
From public records · entity-resolved
Iron Mountain Records Manageme
Individual
Free & Clear · 28 yrs held
Mailing address
1 FEDERAL ST, BOSTON, MA 02110-2012
Ownership since
1998
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
Jun 2, 2025
—
Garfield Ventures LLC
—
Deed
related
$7,000,000 · Mountain Pacific Bank
Jun 2, 1998
$3,000,000
Iron Mountain Records Manageme
Bekins Moving & Storage Co
Grant Deed
—
Jun 1, 1994
$2,351,000
Bekins Moving & Storage Co
Wright Outboard
Grant Deed
$1,735,000 · Us Bank Of Washington
—
—
Bekins Moving & Storage Co
—
Deed Of Trust
related
$1,400,000 · Key Bank NA
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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