Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Retail space
1525 Olive Way Seattle, WA 98122-2129
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-0868645
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,350 SF
Lot
0.06 ac (2,700 SF)
Zoning code
NC3P-75 (M)
APN
684870-0030
UPID
US90-0868645
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
-
Bad Chancla Restaurant
-
The Reef Cannabis Dispensary (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.00M
Comparable Approach
Comparable
$679k
Blend (final)
Blend
$985k
Owner & transaction history
Denny Hillclimb LLC · 9 yrs held
Denny Hillclimb LLC
since 2017
7 recorded transactions
Zoning & alternative use
NC3P-75 (M) · 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%
$1,080,000
6.5%
$1,000,000
7%
$925,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,535,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$1,495,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±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
$226 / 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
$15,491
Tax year 2022
Assessed value
$1,843,100
Assessed 2022
Previous assessed
$1,843,100
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$1,363,500
Assessed improvement
$479,600
Land market value
$1,363,500
Improvement market value
$479,600
Total market value
$1,843,100
Applied tax rate
13.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
4,350 SF
Lot
0.06 ac (2,700 SF)
Zoning code
NC3P-75 (M)
APN
684870-0030
UPID
US90-0868645
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3P-75 (M) · Seattle, WA
Zoning NC3P-75 (M) · permitted uses
NC3P-75 (M) · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING
MEDICAL BUILDING
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
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Denny Hillclimb LLC
Entity
Mailing address
270 S HANFORD ST STE #205, SEATTLE, WA 98134-1940
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2025
—
Denny Hillclimb LLC
—
Deed
related
$1,575,000 · O Bee Cu
Jun 20, 2018
—
Denny Hillclimb LLC
—
Deed
related
$1,000,000 · Alco Investment Company
Jun 15, 2017
$1,420,000
Denny Hillclimb LLC
Gerald Simonsen
Warranty Deed
$800,000 · Northwest Bank
Jul 27, 2009
—
Gerald Simonsen
—
Trustees Deed
related
$100,000 · Pacific Continental Bank
Apr 8, 2004
$321,500
Gerald Simonsen
Geels,lyle & Kia
Grant Deed
$422,892 · Banner Bank
Mar 20, 1998
$520,000
Lyle Geels
Bardinelli,luciano
Grant Deed
$462,000 · Towne Bank
—
—
Luciano Bardinelli
—
Deed Of Trust
related
$120,000 · Individual
—
—
Gerald Simonsen
—
Deed Of Trust
related
$97,147 · Pacific Continental Bank
—
—
Luciano Bardinelli
—
Deed Of Trust
related
$200,000 · Pacific Northwest Bank
—
—
Luciano Bardinelli
—
Deed Of Trust
related
$56,000 · Individual
—
—
Luciano Bardinelli
—
Deed Of Trust
related
$148,551 · Us Bank Of Washington
—
—
Luciano Bardinelli
—
Deed Of Trust
related
$70,000 · Us Bank Of Washington
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1525 Olive Way?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
