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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12535 15th NE Ave Seattle, WA 98125-4095

    • Office buildings
    • 8,420 SF
    • 0.79 lot acres
    OFF-MARKET
    Value Estimations
    $1,950,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1394395
    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

    • Novick Brown Natalie J PHD / Psychologist
    • McCafferty & Steinmark, PLLC / Civil Law Attorney
    • Stelmakh & Associates Business Immigration Law Firm / Immigration Attorney / Law Firm
    • FASD Experts / Medical Clinic
    • North Star Industries Inc / Steel Distributor

    Property Details for 12535 15th NE Ave

    Year built
    1985
    Construction
    WOOD
    Lot size
    0.79 lot acres
    Property size
    8,420 SF
    Zone code
    NC3P-55 (M)
    Property type
    Office buildings
    APN
    641410-0355
    APU
    6414100355

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,575,000
      6.5%
      $2,380,000
      7%
      $2,210,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,221,000
      Market price range: $313k - $1.77M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,975,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,985,000
      Change: +0% Conversion: Easy
      MEDICAL BUILDING
      $2,895,000
      Change: -3% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,485,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.313
    Latitude
    47.7205
    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
    $31,567
    $3,089,000
    $1,000
    $3,090,000
    -
    $3,089,000
    $1,000
    $3,090,000

    Comparable in this City

    • Value Estimation
      $1,685,000
      10,500 SF

      12351 Lk City NE Way

      OFFICE BUILDING • 10,500 SF
      12351 Lk City NE Way, Seattle, WA 98125-5437
      View Details
    • Value Estimation
      $1,175,000
      6,258 SF

      12733 Lk City NE Way

      OFFICE BUILDING • 6,258 SF
      12733 Lk City NE Way, Seattle, WA 98125-4490
      View Details
    • Value Estimation
      $8,695,000
      37,500 SF

      2611 125th St

      OFFICE BUILDING • 37,500 SF
      2611 125th St, Seattle, WA 98125-4373
      View Details
    • Value Estimation
      $1,075,000
      5,628 SF

      11300 25th NE Ave

      OFFICE BUILDING • 5,628 SF
      11300 25th NE Ave, Seattle, WA 98125-6639
      View Details
    • Value Estimation
      $830,000
      5,376 SF

      13301 Lk City NE Way

      OFFICE BUILDING • 5,376 SF
      13301 Lk City NE Way, Seattle, WA 98125-4430
      View Details
    • Value Estimation
      $710,000
      4,048 SF

      12359 Lk City NE Way

      OFFICE BUILDING • 4,048 SF
      12359 Lk City NE Way, Seattle, WA 98125-5401
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,904 SF

      Seattle Office Building For Sale

      Office building near Northgate Transit Center with redevelopment potential.
      301 NE 100Th St, Seattle, WA 98125
      View Details
    • $1,975,000

      Seattle Office Space Available

      Office property for sale in Seattle, Washington.
      12333 35Th Ave NE, Seattle, WA 98125
      View Details
    • Contact for pricing

      Versatile Space Near Northgate Center

      Adaptable space suitable for office, medical, or educational purposes.
      12345 NE Roosevelt Way, Seattle, WA 98125
      View Details
    • $825,000
      3,982 SF

      Boutique Cannabis Cultivation Facility

      Turnkey cannabis cultivation facility with extensive infrastructure and growth potential.
      10722 Lake City Way NE, Seattle, WA 98125
      View Details
    • $2,550,000
      7,332 SF

      Retail and Manufacturing Property

      7,332 SF property with long-term leases and heavy power.
      10333 Lake City Way NE, Seattle, WA 98125
      View Details
    • $15,988,000
      2,300 SF

      Prime Retail Space in Seattle

      Street-level retail with high visibility in North Seattle.
      12000 15Th Ave NE, Seattle, WA 98125
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    Similar Nearby for Lease

    • $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
    • $4 SF/Yr
      6,249 SF

      Seattle Office Space for Lease

      Flexible Offices in Prime Location
      10202 5Th Ave, Seattle, WA 98125
      View Details
    • $25 SF/Yr
      2,500 SF

      Seattle Office Space For Rent

      2500 square feet of office space available for lease.
      13500 Lake City Way NE, Seattle, WA 98125
      View Details
    • $20 SF/Yr
      1,651 SF

      Villa Flora Commercial Space

      Ground-floor commercial space in North Seattle's vibrant Pinehurst neighborhood.
      12317 15Th Ave NE, 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
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    12535 15th NE Ave
    Seattle, WA 98125-4095
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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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