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Property profile & analytics
FOR LEASE
Office Spaces
1531 Utah Ave S Seattle, WA 98134
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US90-0923489
For Lease
$23,590,000
1531 Utah Ave S, Seattle, WA 98134
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2009
Construction
CONCRETE
Total area
285,007 SF
Lot
1.35 ac (58,851 SF)
Zoning code
IG1 U/85
APN
766620-7045
UPID
US90-0923489
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
-
SODO Builders General Contractor
-
SemaConnect Charging Station Electric Vehicle Charging Station
-
Blink Charging Station Electric Vehicle Charging Station
-
1531 Utah - SIC Parking Garage Parking Lot & Garage
-
Oculus Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$23.59M
Owner & transaction history
Sic Rp LLC · 8 yrs held
Sic Rp LLC
since 2018
7 recorded transactions
Zoning & alternative use
IG1 U/85 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$83 / 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
$744,721
Tax year 2022
Assessed value
$90,360,000
Assessed 2022
Previous assessed
$90,360,000
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$5,002,300
Assessed improvement
$85,357,700
Land market value
$5,002,300
Improvement market value
$85,357,700
Total market value
$90,360,000
Applied tax rate
10.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
2009
Construction
CONCRETE
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
6
Total area
285,007 SF
Lot
1.35 ac (58,851 SF)
Zoning code
IG1 U/85
APN
766620-7045
UPID
US90-0923489
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG1 U/85 · Seattle, WA
Zoning IG1 U/85 · permitted uses
IG1 U/85 · 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.
Building & site characteristics
From public records
Year built
2009
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
6
Lot
1.35 ac
Current owner
From public records · entity-resolved
Sic Rp LLC
Entity
Mailing address
270 S HANFORD ST STE #100, SEATTLE, WA 98134-1838
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2022
—
Sic Rp LLC
—
Deed
related
—
Mar 22, 2018
—
Sic Rp LLC
Stadium Innovation Center LP
Trustees Deed
$80,925,000 · Kref Cap LLC
Apr 17, 2008
$11,000,000
Utah Avenue South 1531
American Retirement INC
Warranty Deed
$1,000,000 · Coastal Community Bank
Oct 6, 1998
$2,100,000
American Retirement INC
Mcleod & Hovis Investment
Grant Deed
—
—
—
Mcleod Investments
—
Deed Of Trust
related
$40,000 · Key Bank NA
—
—
American Retirement INC
—
Deed Of Trust
related
$1,000,000 · Coastal Community Bank
—
—
1531 Utah Avenue South LP
—
Loan Modification
related
$28,553,480 · Wells Fargo Bk
—
—
1531 Utah Avenue South LP
—
Loan Modification
related
$30,250,000 · Wells Fargo Bank
—
—
American Retirement INC
—
Deed Of Trust
related
$445,019 · Northwest Business Bank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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