Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Outlet malls
1400 Leary Way Seattle, WA 98107-5135
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-1496923
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1928
Construction
WOOD
Total area
10,937 SF
Lot
0.2 ac (8,800 SF)
Zoning code
IG2 U/65
APN
276830-2535
UPID
US90-1496923
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
-
Kindness Cafe Take-out & Catering
-
Ballard Foods Bank Food Bank Charitable Organization
-
Vehicle Residence Outreach Seattle Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.40M
Owner & transaction history
Ballard Food Bank · 6 yrs held
Ballard Food Bank
since 2019
7 recorded transactions
Zoning & alternative use
IG2 U/65 · 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
$128 / 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
$1,669
Tax year 2022
Assessed value
$2,248,500
Assessed 2022
Previous assessed
$2,248,500
+0.0% YoY
Effective rate
0.07%
On assessed value
Assessed land
$1,364,000
Assessed improvement
$884,500
Land market value
$1,364,000
Improvement market value
$884,500
Total market value
$2,248,500
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1928
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Stories
1
Total area
10,937 SF
Lot
0.2 ac (8,800 SF)
Zoning code
IG2 U/65
APN
276830-2535
UPID
US90-1496923
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WA
Zoning IG2 U/65 · permitted uses
IG2 U/65 · 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
1928
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Ballard Food Bank
Entity
Mailing address
1400 NW LEARY WAY, SEATTLE, WA 98107-5135
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2020
—
Ballard Food Bank
—
Deed
related
$4,756,111 · Beneficial State Bank
Aug 28, 2020
—
Ballard Food Bank
—
Deed
related
$50,000 · City Of Seattle
Sep 11, 2019
$4,300,000
Ballard Food Bank
1400 Leary LLC
Special Warranty Deed
$2,000,000 · Beneficial State Bank
Mar 26, 2018
$2,200,000
1400 Leary LLC
Gerald L Murphy
Warranty Deed
$1,540,000 · Anchor Bank
Feb 22, 2018
—
Gerald L Murphy
—
Deed
related
$45,700 · Private Individual
Jul 17, 2017
—
Gerald L Murphy
—
Deed
related
$25,000 · Private Individual
Mar 31, 2017
—
Gerald L Murphy
—
Deed
related
$100,000 · Private Individual
Jul 1, 2015
—
Gerald L Murphy
—
Trustees Deed
related
$20,000 · Donald L Jack
Aug 18, 2014
—
Gerald L Murphy
—
Trustees Deed
related
$75,000 · Donald L Jack
Mar 7, 2014
—
Gerald L Murphy
—
Trustees Deed
related
$100,000 · Donald L Jack
—
—
Gerald L Murphy
—
Deed Of Trust
related
$100,000 · Thomas P Bleakney
—
—
Gerald L Murphy
—
Deed Of Trust
related
$179,944 · Bleakney Family Living Trust
—
—
Gerald L Murphy
—
Deed Of Trust
related
$100,000 · Private Individual
—
—
Gerald L Murphy
—
Deed Of Trust
related
$100,000 · Private Individual
—
—
Gerald L Murphy
—
Deed Of Trust
related
$25,000 · Private Individual
—
—
Gerald L Murphy
—
Deed Of Trust
related
$45,700 · Private Individual
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?”
You own 1400 Leary Way?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
