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    Property profile & analytics

    12317 15Th Ave NE Seattle, WA 98125

    • Commercial real estate
    • 1,651 SF
    For Lease
    View listing
    $20 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1733612
    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.

    Current Use by Public Records

    • April E. Rodriguez, ARNP / Nurse Practitioner
    • Sahaja Yoga Meditation Seattle / Meditation Center
    • North End Makerspace / Makerspace
    • Moon Ink / Tattoo Shop / Art Gallery
    • Einat Arian / Alternative Medicine Practitioner

    Property Details for 12317 15Th Ave NE

    Property size
    1,651 SF
    Property type
    Commercial real estate

    Description

    This exceptional 1,651 square foot executive office suite is available for lease in the desirable Seattle neighborhood of 98125. Located at 12317 15th Ave NE, King County, Washington, this single-tenant space offers a unique opportunity for businesses seeking a prestigious and functional workspace. The entire building comprises 1,651 square feet, ensuring complete privacy and control over the environment. The property is classified as an office building with an executive office subtype, ideal for companies seeking a sophisticated and professional image. Its convenient location in Seattle provides easy access to major transportation routes, amenities, and a thriving business community. The property is currently vacant and ready for immediate occupancy, allowing for swift customization to meet specific business needs. This presents a rare chance to secure a substantial, self-contained office space in a prime Seattle location. The address is verified as 12317 15th Ave NE, Seattle, WA 98125, within King County. Interested parties are encouraged to inquire promptly to secure this exceptional opportunity. The property's latitude and longitude coordinates are 47.7182449 and -122.312979 respectively. This single-tenant occupancy ensures a quiet and productive work environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.312979
    Latitude
    47.7182449

    Comparable in this City

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      Retail and office spaces available along Lake City Way NE.
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      Office Space Available For Rent

      Office space featuring private offices, meeting rooms, and open area.
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      Remodeled Retail/Office Space Available

      Newly remodeled retail/office space in a densely populated area.
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      Lake City Office Space Available

      1,850 sq ft Office in Seattle, WA
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      Seattle Office Space for Lease

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    Similar Nearby for Sale

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      Development Site in Thriving Community

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    Similar Nearby for Lease

    • $32 SF/Yr
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      Seattle Office Space For Rent

      Office space available for rent in Seattle, Washington.
      2611 NE 125Th St, Seattle, WA 98125
      View Details
    • $20 SF/Yr
      1,720 SF

      Office Space with Reserved Parking

      Second floor office space featuring private offices and reserved parking.
      3227 NE 125Th St, Seattle, WA 98125
      View Details
    • $20 SF/Yr
      2,423 SF

      Retail and Office Leasing Opportunity

      Retail and office spaces available along Lake City Way NE.
      10215-10223 Lake City Way NE, Seattle, WA 98125
      View Details
    • $30 SF/Yr
      4,651 SF

      Office Space Available For Rent

      Office space featuring private offices, meeting rooms, and open area.
      155 NE 100Th St, Seattle, WA 98125
      View Details
    • $20 SF/Yr
      1,681 SF

      Remodeled Retail/Office Space Available

      Newly remodeled retail/office space in a densely populated area.
      11002 1St Ave S, Seattle, WA 98125
      View Details
    • $26 SF/Yr
      5,421 SF

      Lake City Office Space Available

      1,850 sq ft Office in Seattle, WA
      3327 125Th St, Seattle, WA 98125
      View Details
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    Seattle, WA 98125
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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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