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Property profile & analytics
OFF-MARKET
Estimated value
$23,300,000
Hotels
1400 6th Ave, Seattle, WA 98101-2318
Individually Owned
20-yr Hold
Free & Clear
Property ID
US90-3370460
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1982
Construction
STEEL FRAME
Total area
763,898 SF
Lot
2.03 ac (88,425 SF)
Zoning code
DOC2 500/300-550
APN
197670-0095
UPID
US90-3370460
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
-
FedEx Office Print & Ship Center Courier Service Postal Service
-
Sheraton Grand Seattle Garage - PRKSeattle Parking Lot & Garage
-
ATM Atm
-
City Center Baptist Church Church
-
Encore IT Consulting Firm Tech Support Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$23.30M
Owner & transaction history
Seattle Union Street Assocs · 20 yrs held
Seattle Union Street Assocs
since 2005
4 recorded transactions
Zoning & alternative use
DOC2 500/300-550 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$31 / 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
$2,938,765
Tax year 2022
Assessed value
$359,913,300
Assessed 2022
Previous assessed
$359,913,300
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$128,216,200
Assessed improvement
$231,697,100
Land market value
$128,216,200
Improvement market value
$231,697,100
Total market value
$359,913,300
Applied tax rate
11.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1982
Construction
STEEL FRAME
Heating
OTHER
Buildings
2
Stories
34
Total area
763,898 SF
Lot
2.03 ac (88,425 SF)
Zoning code
DOC2 500/300-550
APN
197670-0095
UPID
US90-3370460
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DOC2 500/300-550 · Seattle, WA
Zoning DOC2 500/300-550 · permitted uses
DOC2 500/300-550 · 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.
Building & site characteristics
From public records
Year built
1982
Construction
STEEL FRAME
Heating
OTHER
Stories
34
Buildings
2
Lot
2.03 ac
Current owner
From public records · entity-resolved
Seattle Union Street Assocs
Individual
Free & Clear · 20 yrs held
Mailing address
1400 6TH AVE, SEATTLE, WA 98101-2318
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2005
—
Seattle Union Street Assocs
City Of Seattle
Quit Claim Deed
—
Nov 4, 2005
$353,265
Seattle Union Street Assocs
Seattle Art Museum
Grant Deed
related
—
Sep 30, 2005
—
Seattle Union Street Assocs
—
Grant Deed
related
$187,000,000 · Pacific Life Insurance Co
—
—
Seattle Union Street Assocs Ll
—
Deed Of Trust
related
$200,000,000 · Miscellaneous Ins Co
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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