Add Listing
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

    1516 1st Ave Seattle, WA 98101-1515

    • Parking lots & garages
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Dec 14, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2066403
    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

    • International Parking Management / Parking Lot & Garage
    • Liberty - Parking Lot / Parking Lot & Garage
    • Parking football / Freight Service / Logistics Company

    Property Details for 1516 1st Ave

    Lot size
    0.31 lot acres
    Zone code
    DMC-145
    Property type
    Parking lots & garages
    APN
    197570-0620
    APU
    1975700620

    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
    -122.34
    Latitude
    47.6095
    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
    $62,005
    $7,326,000
    $0.00
    $7,326,000
    -
    $7,326,000
    $0.00
    $7,326,000

    Comparable in this City

    • Value Estimation by Request
      1.25 Acres

      Terry Ave

      PARKING LOT • 1.25 Acres
      Terry Ave, Seattle, WA 98101
      View Details
    • Value Estimation by Request
      0.16 Acres

      1815 Terry Ave

      PARKING LOT • 0.16 Acres
      1815 Terry Ave, Seattle, WA 98101-2403
      View Details
    • Value Estimation by Request
      0.24 Acres

      920 Olive Way

      PARKING LOT • 0.24 Acres
      920 Olive Way, Seattle, WA 98101
      View Details
    • Value Estimation by Request
      0.97 Acres

      1024 Stewart St

      PARKING LOT • 0.97 Acres
      1024 Stewart St, Seattle, WA 98101-2359
      View Details
    • Value Estimation by Request
      6,480 SF

      1931 3rd Ave

      PARKING GARAGE, PARKING STRUCTURE • 6,480 SF
      1931 3rd Ave, Seattle, WA 98101
      View Details
    • Value Estimation by Request
      0.32 Acres

      1101 Western Ave

      PARKING LOT • 0.32 Acres
      1101 Western Ave, Seattle, WA 98101
      View Details

    Similar Nearby for Sale

    • 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
    • $998,000
      2,010 SF

      Seattle Commercial Condo Live/Work Space

      Commercial condo near Pike Place Market and Seattle's Waterfront.
      1512 Alaskan Way, 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
    • $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
    • 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

    Similar Nearby for Lease

    • Contact for pricing

      Prime Restaurant Space in Seattle

      Restaurant space with outdoor patio in a high-traffic Seattle location.
      1730 Minor Ave, Seattle, WA 98101
      View Details
    • Contact for pricing
      1,396 SF

      Retail Space on University Street

      Retail spaces available for lease on University Street.
      405 University St, Seattle, WA 98101
      View Details
    • Contact for pricing
      90,000 SF

      New Mixed-Use Development Retail Space

      Downtown Seattle retail space in a new mixed-use development.
      1200 Stewart St, Seattle, WA 98101
      View Details
    • Contact for pricing
      4,122 SF

      Prime Downtown Seattle Retail Space

      High-visibility corner retail space in downtown Seattle.
      1918 8Th Ave, Seattle, WA 98101
      View Details
    • $4,196 /Mo
      1,007 SF

      Retail Space on Pike Street

      Ground level retail space available for rent on Pike Street.
      1123 Pike St, Seattle, WA 98101
      View Details
    • $15,559 /Mo
      4,149 SF

      Prime Showroom Space Available

      High-end showroom near Seattle Waterfront Park, suitable for entertainment.
      1221 1St Ave, 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.
    1516 1st Ave
    Seattle, WA 98101-1515
    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.
    Sign Up Successful!
    You now have access to more from Realmo!