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    13018 Lake City Way NE Seattle, WA 98125
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    Property profile & analytics

    13018 Lake City Way NE, Seattle, WA 98125

    View on Map
    • Outlet malls
    • 121,087 SF
    • 5.51 lot acres
    For Sale
    $17,135,000
    View Listing →
    Lake City Redevelopment Opportunity For Sale
    $17,135,000
    118,095 SF

    Lake City Redevelopment Opportunity

    118,095 SF building on 5.5 acres in Seattle.

    13018 Lake City Way NE, Seattle, WA
    View Listing
    Property ID
    US90-1404459
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Outlet malls

    Property Details for 13018 Lake City Way NE

    Year built
    1995
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.51 lot acres
    Zone code
    NC3-55 (M)
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    145360-1660
    APU
    1453601660

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $22,937,000
      Market price range: $22.9M - $83.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.292
    Latitude
    47.7235
    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
    $182,284
    $14,878,200
    $2,007,140
    $16,885,340
    -
    $14,878,200
    $2,007,140
    $16,885,340

    Comparable in this City

    • Value Estimation
      $2,875,000
      15,128 SF

      859 Northgate Way

      WHOLESALE OUTLET, DISCOUNT STORE
      859 Northgate Way, Seattle, WA 98125-7311
      View Details
    • Value Estimation
      $47,855,000
      288,283 SF

      300 Northgate Way

      WHOLESALE OUTLET, DISCOUNT STORE
      300 Northgate Way, Seattle, WA 98125-6047
      View Details
    • Value Estimation
      $1,155,000
      5,656 SF

      11552 15th NE Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      11552 15th NE Ave, Seattle, WA 98125-6322
      View Details
    • Value Estimation
      $2,890,000
      17,563 SF

      12513 Lk City NE Way

      SHOPPING CENTER, STRIP CENTER
      12513 Lk City NE Way, Seattle, WA 98125-3464
      View Details
    • Value Estimation
      $32,570,000
      79,204 SF

      830 Northgate Way

      MINI-MALL
      830 Northgate Way, Seattle, WA 98125-7312
      View Details
    • Value Estimation by Request
      2.66 Acres

      10200 1st NE Ave

      PARKING LOT
      10200 1st NE Ave, Seattle, WA 98125
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,586 SF

      Seattle NNN Investment Opportunity

      NNN leased auto facility with long-term tenant and redevelopment potential.
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    • Contact for pricing
      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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    • $2,550,000

      Seattle Retail and Warehouse Investment

      Retail and warehouse investment opportunity in Seattle with long-term leases.
      10333 Lake City Way NE, Seattle, WA 98125
      View Details
    • Contact for pricing

      Restaurant Ready Corner Building

      High-traffic corner building with built-out kitchen for sale.
      12325 Lake City Way NE, Seattle, WA 98125
      View Details
    • Contact for pricing

      Meadowbrook Development Site Opportunity

      Prime development site near Meadowbrook Playfield and Community Center.
      10400 Lake City Way NE, Seattle, WA 98125
      View Details
    • Contact for pricing
      29,691 SF

      Former Drug Store Opportunity

      Former Bartell Drug store available for sale.
      3018 NE 125Th St, Seattle, WA 98125
      View Details

    Similar Nearby for Lease

    • $4,038 /Mo
      2,423 SF

      Retail and Office Leasing Opportunity

      Retail and office spaces available in Northbrook Place.
      10215 Lake City Way NE, Seattle, WA 98125
      View Details
    • $20,400
      7,200 SF

      Prime Retail Space Available

      Retail space near Northgate Light Rail Station, available November 1st.
      550 Northgate Way, Seattle, WA 98125
      View Details
    • $5,225 /Mo
      1,844 SF

      Retail Space Near Northgate Station

      Street-front retail space near Northgate Station, ideal for soft goods.
      337 103Rd St, Seattle, WA 98125
      View Details
    • $3,710 /Mo
      1,590 SF

      Retail and Office Leasing Opportunity

      Retail and office spaces available in Northbrook Place.
      10215 Lake City Way NE, Seattle, WA 98125
      View Details
    • $3,642 /Mo
      2,300 SF

      Prime Retail Space in Seattle

      Street-level retail space in high-demand North Seattle corridor.
      12000 15Th Ave NE, Seattle, WA 98125
      View Details
    • $1,625 /Mo
      750 SF

      Retail Space Available For Rent

      750 SF retail space, former nail salon, other uses welcome.
      12500 Lake City Way NE, Seattle, WA 98125
      View Details
    View Listing
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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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