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Property profile & analytics
OFF-MARKET
Estimated value
$9,495,000
Retail space
1506 5th Ave Seattle, WA 98101
Entity Owned
2-yr Hold
Property ID
US90-3279938
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1915
Construction
CONCRETE
Total area
36,904 SF
Lot
0.3 ac (13,200 SF)
Zoning code
DRC 85-170
APN
197570-0155
UPID
US90-3279938
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.47M
Comparable Approach
Comparable
$11.63M
Blend (final)
Blend
$9.50M
Owner & transaction history
1508 5th Ave LLC · 2 yrs held
1508 5th Ave LLC
since 2024
Last sale
$8.9M
5 recorded transactions
Zoning & alternative use
DRC 85-170 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$15.2M
+2.6%
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%
$9,170,000
6.5%
$8,465,000
7%
$7,860,000
Alternative Use
Use
Estimation
RETAIL STORES
$14,800,000
Current use
AUTO REPAIR, GARAGE
$15,185,000
Change: +3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$13,090,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$13,040,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$12,690,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$9.50M
Range $8.55M – $10.44M · ±10% · vs last sale $8.94M (Apr 3 2024)
Last sale anchor
$8.94M
Apr 3 2024
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
$257 / 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
$119,930
Tax year 2022
Assessed value
$14,463,400
Assessed 2022
Previous assessed
$14,463,400
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$11,550,000
Assessed improvement
$2,913,400
Land market value
$11,550,000
Improvement market value
$2,913,400
Total market value
$14,463,400
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1915
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
36,904 SF
Lot
0.3 ac (13,200 SF)
Zoning code
DRC 85-170
APN
197570-0155
UPID
US90-3279938
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DRC 85-170 · Seattle, WA
Zoning DRC 85-170 · permitted uses
DRC 85-170 · 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
RETAIL STORES Current
Est. value
$14.8M
AUTO REPAIR, GARAGE
Est. value
$15.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.1M
OFFICE BUILDING
Est. value
$13.0M
MEDICAL BUILDING
Est. value
$12.7M
RETAIL STORES Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
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
1915
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
1508 5th Ave LLC
Entity
Mailing address
11225 SE 6TH ST STE C-215, BELLEVUE, WA 98004-6441
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2024
$8,938,888
1508 5th Ave LLC
Coliseum Building LLC
Special Warranty Deed
—
Aug 13, 2009
—
Coliseum Building LLC
—
Deed Of Trust
related
$125,000,000 · Bank Of America
Mar 26, 2007
$13,026,560
Coliseum Building LLC
Alhadeff Properties
Grant Deed
—
Dec 20, 2001
—
Alhadeff Properties LP
—
Deed Of Trust
related
$25,000,000 · Guardian Life Ins Co America
Oct 12, 1995
—
Alhadeff Properties LP
Joseph Gottstein Estate
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.
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