Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1424 15th Ave Seattle, WA 98122

    • Theaters & concert halls
    • 5,376 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1585299
    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

    • Theaters & concert halls

    Property Details for 1424 15th Ave

    Year built
    1900
    Construction
    CONCRETE
    Lot size
    0.29 lot acres
    Property size
    5,376 SF
    Zone code
    LR3 (M)
    Property type
    Theaters & concert halls
    APN
    723460-0185
    APU
    7234600185

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.312
    Latitude
    47.6132
    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
    $2,428
    $2,880,000
    $554,100
    $3,434,100
    -
    $2,880,000
    $554,100
    $3,434,100

    Comparable in this City

    • Value Estimation
      $890,000
      25,864 SF

      153 14th Ave

      AUDITORIUM • 25,864 SF
      153 14th Ave, Seattle, WA 98122-5556
      View Details
    • Value Estimation by Request
      946,212 SF

      800 Un St

      ARENA, CONVENTION CENTER • 946,212 SF
      800 Un St, Seattle, WA 98122-3821
      View Details
    • Value Estimation
      $1,010,000
      29,400 SF

      1500 Harvard Ave

      THEATER (MOVIE) • 29,400 SF
      1500 Harvard Ave, Seattle, WA 98122-3803
      View Details
    • Value Estimation
      $730,000
      22,720 SF

      905 12th Ave

      THEATER (MOVIE) • 22,720 SF
      905 12th Ave, Seattle, WA 98122-4411
      View Details
    • Value Estimation by Request
      0.15 Acres

      14th Ave

      STADIUM • 0.15 Acres
      14th Ave, Seattle, WA 98122
      View Details
    • Value Estimation by Request
      1,704 SF

      2001 Madison St

      AMUSEMENT PARK • 1,704 SF
      2001 Madison St, Seattle, WA 98122-2959
      View Details

    Similar Nearby for Sale

    • $639,800
      1,080 SF

      Spacious City Living on Pike/Pine

      Modern apartment with open design, storage, and unbeatable location.
      1420 E Pine St, Seattle, WA 98122
      View Details
    • $9,950,000
      29,386 SF

      Entertainment Venue with Diverse Amenities

      Versatile property featuring a bowling alley, pool, and basketball court.
      722 Union St, Seattle, WA 98122
      View Details
    • $3,500,000
      20,778 SF

      Remodeled Office Building with Parking

      Four-story office building with parking and views for sale.
      4241 21St Ave W, Seattle, WA 98122
      View Details
    • $388,000
      548 SF

      Capitol Hill Hybrid Condo

      Stylish condo with flexible layout, ideal for urban living.
      1420 E Pine St, Seattle, WA 98122
      View Details
    • $2,195,000
      5,835 SF

      Central District 6-Unit Investment Opportunity

      Well-located 6-unit in Seattle with redevelopment potential and solid income.
      711 21St Ave, Seattle, WA 98122
      View Details
    • $1,975,000
      3,828 SF

      Broadway State Building For Sale

      Fully occupied retail and office building in desirable Seattle location.
      824 Pike St, Seattle, WA 98122
      View Details

    Similar Nearby for Lease

    • $29 SF/Yr
      1,487 SF

      East Madison Retail Space Available

      Retail space in East Madison, suitable for various businesses.
      2020-2026 E Madison St, Seattle, WA 98122
      View Details
    • $32 SF/Yr
      2,235 SF

      Capitol Hill Retail Space Available

      Prime retail space in the Pike Pine Corridor.
      1427 11Th Ave, Seattle, WA 98122
      View Details
    • $32 SF/Yr
      1,710 SF

      Retail Space Former Fitness Studio

      Retail space formerly a fitness studio with high ceilings.
      4535-4550 12Th Ave NE, Seattle, WA 98122
      View Details
    • Contact for pricing
      3,288 SF

      Capitol Hill Creative Office Sublease

      Bright, spacious Capitol Hill office space.
      1620 12Th Ave, Seattle, WA 98122
      View Details
    • $29 SF/Yr
      46,000 SF

      Jefferson Building Office Suites

      Seattle Executive Office Space Available
      1401 Jefferson St, Seattle, WA 98122
      View Details
    • $22 SF/Yr
      42,000 SF

      Capitol Hill Creative Office Space

      Seattle's vibrant Capitol Hill: Prime office & retail.
      911 Pike St, Seattle, WA 98122
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1424 15th Ave
    Seattle, WA 98122
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.