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Property profile & analytics
OFF-MARKET
Estimated value
$4,100,000
Medical Office Space
122 16th E Ave, Seattle, WA 98112-5212
Individually Owned
Absentee Owner
Free & Clear
Property ID
US90-1540245
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1990
Construction
WOOD
Total area
19,822 SF
Lot
0.66 ac (28,800 SF)
Zoning code
MIO-50-LR3
APN
808040-0020
UPID
US90-1540245
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
-
Darin Bunch Alternative Medicine Practice Acupuncture
-
Pathology Associates Medical Laboratory Doctor
-
Dr. Mary Bartels Physician
-
Laura Streich Physician Medical Clinic
-
Sound - Capitol Hill North Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.39M
Comparable Approach
Comparable
$2.50M
Blend (final)
Blend
$4.10M
Owner & transaction history
PERMANENTE WA KAISER
PERMANENTE WA KAISER
Zoning & alternative use
MIO-50-LR3 · 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%
$4,750,000
6.5%
$4,385,000
7%
$4,070,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,815,000
Current use
WAREHOUSE, STORAGE
$5,855,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$4.10M
Range $3.69M – $4.51M · ±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
$207 / 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
$85,311
Tax year 2022
Assessed value
$9,837,600
Assessed 2022
Previous assessed
$9,837,600
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$7,776,000
Assessed improvement
$2,061,600
Land market value
$7,776,000
Improvement market value
$2,061,600
Total market value
$9,837,600
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1990
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
19,822 SF
Lot
0.66 ac (28,800 SF)
Zoning code
MIO-50-LR3
APN
808040-0020
UPID
US90-1540245
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MIO-50-LR3 · Seattle, WA
Zoning MIO-50-LR3 · permitted uses
MIO-50-LR3 · 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
MEDICAL BUILDING Current
Est. value
$6.8M
WAREHOUSE, STORAGE
Est. value
$5.9M
MEDICAL BUILDING Current
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
1990
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
0.66 ac
Current owner
From public records · entity-resolved
PERMANENTE WA KAISER
Individual
Free & Clear · 0 yrs held
Mailing address
1300 SW 27TH ST, RENTON, WA 98057-2435
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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