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Property profile & analytics
OFF-MARKET
Estimated value
$22,085,000
Commercial real estate
1506 6th Ave, Seattle, WA 98101-1706
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US90-3251043
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1996
Construction
STEEL FRAME
Total area
147,852 SF
Lot
0.59 ac (25,606 SF)
Zoning code
DOC2 500/300-550
APN
197670-0045
UPID
US90-3251043
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
$30.03M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$22.09M
Owner & transaction history
Regency Meridian LLC · 12 yrs held
Regency Meridian LLC
since 2014
6 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$32,525,000
6.5%
$30,025,000
7%
$27,880,000
Blend value · Realmo final
$22.09M
Range $19.88M – $24.29M · ±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
$149 / 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
$319,971
Tax year 2022
Assessed value
$38,814,700
Assessed 2022
Previous assessed
$38,814,700
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$37,128,700
Assessed improvement
$1,686,000
Land market value
$37,128,700
Improvement market value
$1,686,000
Total market value
$38,814,700
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
OTHER
Cooling
OTHER
Stories
6
Total area
147,852 SF
Lot
0.59 ac (25,606 SF)
Zoning code
DOC2 500/300-550
APN
197670-0045
UPID
US90-3251043
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
1996
Construction
STEEL FRAME
Heating
OTHER
Cooling
Yes
Stories
6
Lot
0.59 ac
Current owner
From public records · entity-resolved
Regency Meridian LLC
Entity
Mailing address
509 OLIVE WAY STE #1011, SEATTLE, WA 98101-1710
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 14, 2025
—
Meridian Seattle LLC
—
Deed
related
$25,625,119 · East West Bank
Dec 1, 2016
—
Regency Meridian LLC
—
Deed
related
$74,000,000 · Miscellaneous Ins Co
Jan 30, 2014
$113,150,000
Regency Meridian LLC
Imi Meridian LLC
Grant Deed
—
Sep 30, 2005
$90,100,000
Imi Meridian LLC
City Center Retail Of Ag Meridian
Grant Deed
—
Feb 20, 1997
$78,075,000
Rosche Meridian Interests LP
Meridian Seattle LLC
Grant Deed
related
$47,500,000 · Common Retirement Fund
—
—
Regency Meridian LLC
—
Deed Of Trust
related
$74,000,000 · 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.
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