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Property profile & analytics
OFF-MARKET
Estimated value
$1,745,000
Office buildings
15217 8th S Ave, Burien, WA 98148-2566
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0893343
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Construction
WOOD
Total area
6,028 SF
Lot
0.29 ac (12,800 SF)
Zoning code
RM-24
APN
202304-9272
UPID
US90-0893343
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
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.83M
CAP Approach
CAP
$1.74M
Comparable Approach
Comparable
$1.24M
Blend (final)
Blend
$1.75M
Owner & transaction history
Skol 645 LLC · 5 yrs held
Skol 645 LLC
since 2021
Last sale
$2.0M
1 recorded transaction
Zoning & alternative use
RM-24 · Burien, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.5M
+16.4%
Retail stores
$2.4M
+13.5%
Apartment house (5+ units)
$2.1M
+0.4%
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 Burien submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burien 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
$1,630,000
ML approach
$1,825,000
CAP Approach
CAP Return
Estimation
6%
$1,880,000
6.5%
$1,735,000
7%
$1,615,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,130,000
Current use
AUTO REPAIR, GARAGE
$2,480,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$2,415,000
Change: +13% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,140,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$2,075,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$1,780,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.75M
Range $1.57M – $1.92M · ±10% · vs last sale $2.02M (Mar 1 2021)
Last sale anchor
$2.02M
Mar 1 2021
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
$289 / 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
$10,174
Tax year 2022
Assessed value
$888,700
Assessed 2022
Previous assessed
$888,700
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$166,400
Assessed improvement
$722,300
Land market value
$166,400
Improvement market value
$722,300
Total market value
$888,700
Applied tax rate
932.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
2
Total area
6,028 SF
Lot
0.29 ac (12,800 SF)
Zoning code
RM-24
APN
202304-9272
UPID
US90-0893343
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
RM-24 · Burien, WA
Zoning RM-24 · permitted uses
RM-24 · Burien, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Burien. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.5M
RETAIL STORES
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$1.8M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1986
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
2
Lot
0.29 ac
Current owner
From public records · entity-resolved
Skol 645 LLC
Entity
Mailing address
88 S HUDSON ST, SEATTLE, WA 98134-2421
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2021
$2,024,000
Skol 645 LLC
Thomas E Hulse III
Warranty Deed
$1,550,000 · Thomas Kulse
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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