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Financial
Distress signals
Property profile

1516 Melrose Ave Seattle, WA 98122

OFF-MARKET
Office buildings
Property ID
US90-1620474
2,547 SF 0.12 ac lot Built 1906
Last sale Mar 2024 · $4,000,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 2-yr Hold Held for 2 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

The 1516 Melrose Avenue development site is a 5,250 sq. ft. parcel of commercial land. The property is zoned NC3P-65 and is supported by an identified development concept that includes 56 studio apartment units, 1,700 sq. ft. of amenity space, and 2,259 sq. ft. of retail space. The site is located in the Pike/Pine corridor and is positioned near multiple dining and retail uses; transit access includes the Westlake transit center, reported to be approximately 0.2 miles away, with additional…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2024

What does the county charge?
$29k
Tax billed · 2024
Assessed value · 2023$3.15M
Assessed land$3.15M
Assessed improvement$1k
Effective rate0.93%

Value estimate

· Oct 2026
$4.00M
$3.60M – $4.40M
AI approach$4.00M

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$353/SF
Submarket average, outlier-cleaned · 337 recorded sales of this use type
Observed band · Q1–Q3$205 – $579

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
NC3P-75 (M)
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping distr...
General categoryCOMMERCIAL
JurisdictionKING

Location intelligence

Which uses thrive at this corner?
Best fit: Laundromat
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Laundromat11.8
Laundry Service10.4
Pet Grooming Service7.6

Location

1516 Melrose Ave Seattle, WA 98122-3678
County assessor Recorded deeds · 5 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 16 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1728 Madison, Seattle, WA 98122-2733 $630,000 Sep 2024 3,840 SF
300 19th, Seattle, WA 98122-5736 $1,455,000 Jul 2023 3,050 SF
1532 13th, Seattle, WA 98122 $3,797,500 Jan 2023 5,192 SF
1437 23rd, Seattle, WA 98122-2917 $950,000 May 2022 2,808 SF
1709 23rd, Seattle, WA 98122-2921 $2,215,000 Oct 2021 2,500 SF
1820 12th, Seattle, WA 98122-2438 $1,405,000 Jun 2019 3,433 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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