Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1511 3rd Ave Seattle, WA 98101-3635
    Back to Search
    Property profile & analytics

    1511 3rd Ave, Seattle, WA 98101-3635

    View on Map
    • Office buildings
    • 130,893 SF
    • 0.29 lot acres
    Off-Market
    Property ID
    US90-1572844
    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.
    Value Estimations
    $16,420,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pure Moving Company Seattle Movers Local & Long distance / Moving Company
    • Dark Light Design / Interior Design
    • Digital WarRoom / Law Firm
    • CST Dryer Vent & Air Duct Cleaning Services Inc Of WA, / General Contractor
    • Security Innovation / (Bike/Boat/Book/etc) Store / Corporate Office

    Property Details for 1511 3rd Ave

    Year built
    1927
    Construction
    CONCRETE
    Lot size
    0.29 lot acres
    Zone code
    DRC 85-170
    Property type
    Office buildings
    APN
    197570-0465
    APU
    1975700465

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.338
    Latitude
    47.6098
    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
    $175,701
    $11,009,200
    $10,337,800
    $21,347,000
    -
    $11,009,200
    $10,337,800
    $21,347,000

    Comparable in this City

    • Value Estimation by Request
      0.01 Acres

      1200 6th Ave

      OFFICE BUILDING
      1200 6th Ave, Seattle, WA 98101-3123
      View Details
    • Value Estimation
      $1,340,000
      265,851 SF

      600 Stewart St

      OFFICE BUILDING
      600 Stewart St, Seattle, WA 98101-1230
      View Details
    • Value Estimation
      $2,465,000
      15,790 SF

      1409 5th Ave

      OFFICE BUILDING
      1409 5th Ave, Seattle, WA 98101-2313
      View Details
    • Value Estimation
      $4,415,000
      34,624 SF

      1408 4th Ave

      OFFICE BUILDING
      1408 4th Ave, Seattle, WA 98101-2280
      View Details
    • Value Estimation
      $3,680,000
      776,762 SF

      1111 3rd Ave

      OFFICE BUILDING
      1111 3rd Ave, Seattle, WA 98101-3292
      View Details
    • Value Estimation
      $9,465,000
      63,540 SF

      1516 2nd Ave

      OFFICE BUILDING
      1516 2nd Ave, Seattle, WA 98101-1543
      View Details

    Similar Nearby for Sale

    • $2,500,000
      41,705 SF

      Pike-Pine Corridor Office Building

      Seven-story office building with retail and redevelopment potential.
      1518 3Rd Ave, Seattle, WA 98101
      View Details
    • $3,500,000
      5,780 SF

      Downtown Seattle Retail/Office Condo

      Corner unit with tenant and retail/office space available.
      820 Stewart St, Seattle, WA 98101
      View Details
    • Contact for pricing

      Eastlake Office Space Available

      Office spaces for lease in Lake Union's Eastlake area.
      1910 Fairview Ave East, Seattle, WA 98101
      View Details
    • Contact for pricing
      2,860 SF

      Prime Downtown Seattle Mixed-Use Building

      Mixed-use building in high-traffic location near Pike Place Market.
      1924 1St Ave, Seattle, WA 98101
      View Details
    • $1,795,000
      3,126 SF

      Downtown Seattle Commercial Condominium

      Rare commercial condominium in downtown Seattle, suitable for various businesses.
      819 Virginia St, Seattle, WA 98101
      View Details
    • Contact for pricing

      Eastlake Office Space Available

      Office spaces in Eastlake area of Lake Union for lease.
      1910 Fairview Ave East, Seattle, WA 98101
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Building in Central District

      Mixed-use building with restaurant and retail opportunities in Seattle.
      1201 3Rd Ave, Seattle, WA 98101
      View Details
    • $10,781 /Mo
      6,809 SF

      Downtown Seattle Office Space Available

      Modern office space in Seattle's financial and retail district.
      1417 4Th Ave, Seattle, WA 98101
      View Details
    • Contact for pricing
      100,397 SF

      Seattle Office Space Available

      Prime office space for rent in Seattle, Washington.
      413 Pine St, Seattle, WA 98101
      View Details
    • Contact for pricing
      62,010 SF

      Seattle Office Space Available

      62,010 square foot office space for rent in Seattle.
      1904 3Rd Ave, Seattle, WA 98101
      View Details
    • Contact for pricing
      20,135 SF

      Class A Office Space

      Premium office building with modern amenities and sustainable features.
      1800 9Th Ave, Seattle, WA 98101
      View Details
    • Contact for pricing
      304,751 SF

      Prime Office Space in Seattle

      Ideally located office building in the heart of Seattle's North CBD.
      720 Olive Way, Seattle, WA 98101
      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.
    1511 3rd Ave
    Seattle, WA 98101-3635
    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

    Thank You for Inquiry
    1511 3rd Ave, Seattle, WA, 98101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!