New search
Property profile & analytics
FOR LEASE
Office buildings
1501 East Madison St, Seattle, WA 98122
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US90-3133374
For Lease
$9,980,000
1501 East Madison St, Seattle, WA 98122
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2012
Construction
WOOD
Total area
52,000 SF
Lot
0.23 ac (10,000 SF)
Zoning code
NC3-75 (M)
APN
723460-0195
UPID
US90-3133374
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
-
Interchange Media Art Productions Art Gallery
-
Seattle Parks Foundation Charitable Organization Social Service Agency
-
Grist Charitable Organization Social Service Agency
-
Luma Lighting Design Interior Design
-
atelierjones llc Architecture Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.98M
Owner & transaction history
Bf Blocker LLC · 7 yrs held
Bf Blocker LLC
since 2018
7 recorded transactions
Zoning & alternative use
NC3-75 (M) · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$15,360,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$9.98M
Range $8.98M – $10.98M · ±10%
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
$192 / 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
$179,558
Tax year 2022
Assessed value
$21,960,700
Assessed 2022
Previous assessed
$21,960,700
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$4,250,000
Assessed improvement
$17,710,700
Land market value
$4,250,000
Improvement market value
$17,710,700
Total market value
$21,960,700
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
2012
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
6
Total area
52,000 SF
Lot
0.23 ac (10,000 SF)
Zoning code
NC3-75 (M)
APN
723460-0195
UPID
US90-3133374
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
WAREHOUSE, STORAGE
Est. value
$15.4M
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
2012
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
6
Lot
0.23 ac
Current owner
From public records · entity-resolved
Bf Blocker LLC
Entity
Mailing address
2003 WESTERN AVE STE #200, SEATTLE, WA 98121-3121
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2018
—
Bf Blocker LLC
Ccsdc LLC
Bargain And Sale Deed
$11,000,000 · Us Bank NA
Aug 23, 2011
—
Ccsdc LLC
—
Trustees Deed
related
$6,651,000 · Ecotrust Sub-cde Ix LLC
Jul 8, 2011
—
Ccsdc LLC
Bullitt Foundation
Grant Deed
—
Apr 28, 2008
$3,060,000
Bullitt Foundation
Evergreen Lake LLC
Warranty Deed
—
Jul 7, 2006
$1,950,000
Evergreen Lake LLC
Harris,sandra E
Warranty Deed
$975,000 · Cathay Bank
—
—
Ccsdc LLC
—
Deed Of Trust
related
$9,700,000 · Seattle Subsidiary Investment
—
—
Ccsdc LLC
—
Deed Of Trust
related
$8,820,000 · Mbs-ui Sub-cde Xxi LLC
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?”
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.
