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Property profile & analytics
OFF-MARKET
Estimated value
$1,205,000
Life science properties
1201 9th Ave, Seattle, WA 98101-2795
Individually Owned
33-yr Hold
Free & Clear
Property ID
US90-1080438
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1999
Construction
STEEL FRAME
Total area
206,950 SF
Lot
0.81 ac (35,470 SF)
Zoning code
MIO-240-HR (M)
APN
197820-0010
UPID
US90-1080438
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
-
Benaroya Research Institute At Va: Nepom Gerald MD Physician
-
Immune Tolerance Network Research Institute
-
T1DAPC Physician
-
Benaroya Parking Parking Lot & Garage
-
Benaroya Research Institute Research Institute
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.21M
Owner & transaction history
Virginia Mason Hospital Ass · 33 yrs held
Virginia Mason Hospital Ass
since 1992
6 recorded transactions
Zoning & alternative use
MIO-240-HR (M) · 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
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL
$1,705,000
Current use
Blend value · Realmo final
$1.21M
Range $1.08M – $1.33M · ±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
$6 / 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
$5,611
Tax year 2022
Assessed value
$107,205,000
Assessed 2022
Previous assessed
$107,205,000
+0.0% YoY
Effective rate
0.01%
On assessed value
Assessed land
$20,395,200
Assessed improvement
$86,809,800
Land market value
$20,395,200
Improvement market value
$86,809,800
Total market value
$107,205,000
Applied tax rate
13.0000
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1999
Construction
STEEL FRAME
Heating
CENTRAL
Stories
5
Total area
206,950 SF
Lot
0.81 ac (35,470 SF)
Zoning code
MIO-240-HR (M)
APN
197820-0010
UPID
US90-1080438
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MIO-240-HR (M) · Seattle, WA
Zoning MIO-240-HR (M) · permitted uses
MIO-240-HR (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
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
Est. value
$1.7M
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
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
1999
Construction
STEEL FRAME
Heating
CENTRAL
Stories
5
Lot
0.81 ac
Current owner
From public records · entity-resolved
Virginia Mason Hospital Ass
Individual
Free & Clear · 33 yrs held
Mailing address
1201 9TH AVE, SEATTLE, WA 98101-2795
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1992
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2019
—
Benaroya Research Institute At Virg
—
Deed
related
$25,716,790 · Mufg Union Bank NA
Dec 2, 1997
—
Virginia Mason Research Center
—
Deed Of Trust
related
$28,161,143 · Us Bank
Oct 26, 1992
—
Virginia Mason Hospital Ass
The Swedish Hosp
Grant Deed
related
—
—
—
Benaroya Research Inst Of Virgini
—
Deed Of Trust
related
—
—
—
Benaroya Research Inst Of Virgini
—
Deed Of Trust
related
$30,720,000 · Bank Of America
—
—
Benaroya Research Inst Of Virgini
—
Deed Of Trust
related
$19,371,490 · Union Bank
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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