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Property profile & analytics
FOR LEASE
Office buildings
13500 Lake City Way NE, Seattle, WA 98125
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-1300246
For Lease
$25 SF/Yr
13500 Lake City Way NE, Seattle, WA 98125
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Construction
WOOD
Total area
9,795 SF
Lot
0.69 ac (30,266 SF)
Zoning code
NC3-75 (M)
APN
382170-0250
UPID
US90-1300246
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
-
Cairns Insurance Agency Insurance Agency
-
Swanberg Realty Real Estate Agency
-
Diana Nelson Real Estate Real Estate Agency
-
Dito Properties Real Estate Agency
-
De Martini & De Martini Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.77M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.09M
Owner & transaction history
Msp LLC · 1 yrs held
Msp LLC
since 2025
Last sale
$2.4M
3 recorded transactions
Zoning & alternative use
NC3-75 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.5M
+0.4%
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%
$2,995,000
6.5%
$2,765,000
7%
$2,570,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,460,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,475,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$3,370,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$2,895,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$2.09M
Range $1.88M – $2.30M · ±10% · vs last sale $2.40M (Mar 2 2025)
Last sale anchor
$2.40M
Mar 2 2025
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
$213 / 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
$27,657
Tax year 2022
Assessed value
$2,815,700
Assessed 2022
Previous assessed
$2,815,700
+0.0% YoY
Effective rate
0.98%
On assessed value
Assessed land
$2,814,700
Assessed improvement
$1,000
Land market value
$2,814,700
Improvement market value
$1,000
Total market value
$2,815,700
Applied tax rate
10.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1980
Construction
WOOD
Heating
FORCED AIR
Stories
2
Total area
9,795 SF
Lot
0.69 ac (30,266 SF)
Zoning code
NC3-75 (M)
APN
382170-0250
UPID
US90-1300246
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3-75 (M) · Seattle, WA
Zoning NC3-75 (M) · permitted uses
NC3-75 (M) · 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
OFFICE BUILDING Current
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.4M
WAREHOUSE, STORAGE
Est. value
$2.9M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1980
Construction
WOOD
Heating
FORCED AIR
Stories
2
Lot
0.69 ac
Current owner
From public records · entity-resolved
Msp LLC
Entity
Free & Clear · 1 yrs held
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2025
$2,400,000
Msp LLC
Michael Pickett
Warranty Deed
—
Jun 2, 2023
—
Michael Pickett
Michael Pickett
Intrafamily Transfer
related
—
Dec 8, 1988
—
Dwight Pickett
Pickett,judith F
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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