New search
Property profile & analytics
OFF-MARKET
Estimated value
$9,890,000
Investment properties
1214 8th Ave, Seattle, WA 98101-2545
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-3261706
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1911
Construction
WOOD FRAME
Total area
29,250 SF
Lot
0.23 ac (10,013 SF)
Zoning code
HR (M)
APN
197820-0020
UPID
US90-3261706
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.58M
CAP Approach
CAP
$5.94M
Comparable Approach
Comparable
$8.17M
Blend (final)
Blend
$9.89M
Owner & transaction history
First Hill Eighth Avenue Propco LLC · 6 yrs held
First Hill Eighth Avenue Propco LLC
since 2020
Last sale
$12.0M
7 recorded transactions
Zoning & alternative use
HR (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.4M
+3.7%
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 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
$11,655,000
ML approach
$9,575,000
CAP Approach
CAP Return
Estimation
6%
$6,435,000
6.5%
$5,940,000
7%
$5,515,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$14,800,000
Current use
RESTAURANT
$15,350,000
Change: +4% · Conversion: Difficult
AUTO REPAIR, GARAGE
$12,035,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$9.89M
Range $8.90M – $10.88M · ±10% · vs last sale $12.00M (Feb 27 2020)
Last sale anchor
$12.00M
Feb 27 2020
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
$338 / 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
$47,959
Tax year 2022
Assessed value
$5,757,400
Assessed 2022
Previous assessed
$5,757,400
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$5,757,400
Land market value
$5,757,400
Total market value
$5,757,400
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1911
Construction
WOOD FRAME
Heating
BASEBOARD
Stories
6
Total area
29,250 SF
Lot
0.23 ac (10,013 SF)
Zoning code
HR (M)
APN
197820-0020
UPID
US90-3261706
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
HR (M) · Seattle, WA
Zoning HR (M) · permitted uses
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
COMMERCIAL (GENERAL) Current
Est. value
$14.8M
RESTAURANT
Est. value
$15.4M
AUTO REPAIR, GARAGE
Est. value
$12.0M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1911
Construction
WOOD FRAME
Heating
BASEBOARD
Stories
6
Lot
0.23 ac
Current owner
From public records · entity-resolved
First Hill Eighth Avenue Propco LLC
Entity
Mailing address
127 PUBLIC SQ STE #3200, CLEVELAND, OH 44114-1229
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2025
—
First Hill Eighth Avenue Propco LLC
—
Deed
related
—
Feb 27, 2020
—
First Hill Eighth Avenue Propco LLC
First Hill Eighth Avenue LLC
Intrafamily Transfer
related
$93,000,000 · Wells Fargo Bank NA
May 1, 2013
—
First Hill Of Eighth Avenue LLC
—
Loan Modification
related
$76,800,000 · Pacific Life Insurance Co
Mar 21, 2013
—
First Hill Of Eighth Avenue LLC
—
Trustees Deed
related
$76,800,000 · Pacific Life Insurance Co
Jun 1, 2012
$12,000,000
First Hill Of Eighth Avenue LLC
Wa Seneca Holdings LLC
Grant Deed
—
Jan 5, 2011
$4,000,000
Wa Seneca Holdings LLC
Fidelity Natl Title Ins
Trustees Deed
related
—
Mar 19, 2007
$3,300,000
812 Seneca Property LLC
Wpig LLC
Warranty Deed
—
Sep 16, 1998
$1,933,820
Jensonia Wpig LLC
Bowers,norcella
Grant Deed
$1,950,000 · First Mutual Savings 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1214 8th Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
