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    12241 Aurora N Ave Seattle, WA 98133
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    Property profile & analytics

    12241 Aurora N Ave Seattle, WA 98133

    View on Map
    • Turn key restaurants
    • 8,249 SF
    • 0.25 lot acres
    Off-Market
    Last Sale Apr 2, 2025
    Property ID
    US90-0903431
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $3,655,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 12241 Aurora N Ave

    Year built
    1968
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.25 lot acres
    Property size
    8,249 SF
    Zone code
    C1-75 (M)
    Property type
    Turn key restaurants
    APN
    302604-9046
    APU
    3026049046

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $4,330,000
      Current use
      COMMERCIAL (GENERAL)
      $4,175,000
      Change: -4% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.345
    Latitude
    47.7194
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $13,513
    $770,000
    $637,000
    $1,407,000
    -
    $770,000
    $637,000
    $1,407,000

    Comparable in this City

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      3,766 SF

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      RESTAURANT • 3,766 SF
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      RESTAURANT • 5,162 SF
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      RESTAURANT • 1,260 SF
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      16743 Aurora N Ave

      RESTAURANT • 3,200 SF
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    • Value Estimation by Request
      5,904 SF

      10555 Greenwood N Ave

      RESTAURANT • 5,904 SF
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    Similar Nearby for Sale

    • Contact for pricing
      Pending

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      1.126-acre parcel zoned TC-3 for mixed-use development.
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      Pending

      Prime Mixed-Use Development Opportunity

      1.126-acre parcel zoned TC-3, ideal for mixed-use development.
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    • $6,400,000
      26,647 SF

      Established Auto Repair Shop For Sale

      Profitable auto repair business with real estate in Shoreline, WA.
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      900 SF

      Aurora Avenue Commercial Opportunity

      Two lots with 8,000+ sq ft building near downtown.
      13828 Aurora Ave N, Seattle, WA 98133
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    • Contact for pricing

      Large Lot on Aurora Avenue

      Versatile commercial property with ample parking and development potential.
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      Aurora Avenue Retail Opportunity

      High-visibility commercial property on Aurora Ave N, ideal for retail.
      10311 Aurora Ave N, Seattle, WA 98133
      View Details

    Similar Nearby for Lease

    • $2,600 /Mo
      1,300 SF

      Aurora Avenue Retail Space Available

      Retail space with enclosed patio, suitable for cafe or bar.
      15544 Aurora Ave N, Shoreline, WA 98133
      View Details
    • $2,500 /Mo
      869 SF

      Restaurant Space Available For Rent

      Restaurant space with parking, ready for immediate occupancy.
      14314 Greenwood Ave N, Seattle, WA 98133
      View Details
    • Contact for pricing

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 1,293 to 35,715 square feet.
      13025 Aurora Ave N, Seattle, WA 98133
      View Details
    • $7,117 /Mo
      3,050 SF

      Aurora Avenue Retail Space Available

      Retail space on Aurora Avenue with high traffic volume.
      10000 Aurora Ave N, Seattle, WA 98133
      View Details
    • $10,499 /Mo
      3,172 SF

      Mixed-Use Property on Aurora Avenue

      Mixed-use property with retail and office spaces for rent.
      12715 Aurora Ave N, Seattle, WA 98133
      View Details
    • $2,240 /Mo
      960 SF

      Retail Space with Facade Signage

      Retail space featuring facade signage and recent upgrades.
      928 160Th St, Shoreline, WA 98133
      View Details
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    Seattle, WA 98133
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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