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Property profile & analytics
OFF-MARKET
Estimated value
$23,920,000
Medical Office Space
1536 115th St, Seattle, WA 98133-8400
Individually Owned
6-yr Hold
Free & Clear
Property ID
US90-1685785
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Construction
CONCRETE
Total area
63,909 SF
Lot
1 ac (43,630 SF)
Zoning code
MIO-105-LR2 (M)
APN
302604-9142
UPID
US90-1685785
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
-
Kidney Stone Center at UW Medical Center - Northwest Physician Medical Clinic
-
Medicine Consult Clinic at UW Medical Center - Northwest Hospital
-
Joe Stuckey Physician Medical Clinic
-
Kevin N. Alschuler Physician Medical Clinic
-
Dr. Ralph A. Pascualy, MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.18M
Comparable Approach
Comparable
$22.47M
Blend (final)
Blend
$23.92M
Owner & transaction history
Board Of Regents & The Unvi & Washing · 6 yrs held
Board Of Regents & The Unvi & Washing
since 2020
Last sale
$27.6M
3 recorded transactions
Zoning & alternative use
MIO-105-LR2 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$33.5M
+52.6%
Commercial (general)
$32.3M
+47.2%
Auto repair, garage
$26.3M
+19.7%
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
$26,795,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,440,000
6.5%
$15,175,000
7%
$14,090,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$21,975,000
Current use
RESTAURANT
$33,540,000
Change: +53% · Conversion: Difficult
COMMERCIAL (GENERAL)
$32,340,000
Change: +47% · Conversion: Easy
AUTO REPAIR, GARAGE
$26,295,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$25,625,000
Change: +17% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$22,665,000
Change: +3% · Conversion: Moderate
OFFICE BUILDING
$22,585,000
Change: +3% · Conversion: Easy
WAREHOUSE, STORAGE
$18,880,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$23.92M
Range $21.53M – $26.31M · ±10% · vs last sale $27.58M (Jan 3 2020)
Last sale anchor
$27.58M
Jan 3 2020
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
$374 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$6,240
Tax year 2024
Assessed value
$19,865,900
Assessed 2023
Effective rate
0.03%
On assessed value
Assessed land
$2,391,700
Assessed improvement
$17,474,200
Land market value
$2,391,700
Improvement market value
$17,474,200
Total market value
$19,865,900
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2005
Construction
CONCRETE
Heating
CENTRAL
Stories
3
Total area
63,909 SF
Lot
1 ac (43,630 SF)
Zoning code
MIO-105-LR2 (M)
APN
302604-9142
UPID
US90-1685785
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MIO-105-LR2 (M) · Seattle, WA
Zoning MIO-105-LR2 (M) · permitted uses
MIO-105-LR2 (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
MEDICAL BUILDING Current
Est. value
$22.0M
RESTAURANT
Est. value
$33.5M
COMMERCIAL (GENERAL)
Est. value
$32.3M
AUTO REPAIR, GARAGE
Est. value
$26.3M
RETAIL STORES
Est. value
$25.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$22.7M
OFFICE BUILDING
Est. value
$22.6M
WAREHOUSE, STORAGE
Est. value
$18.9M
MEDICAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE 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
2005
Construction
CONCRETE
Heating
CENTRAL
Stories
3
Lot
1 ac
Current owner
From public records · entity-resolved
Board Of Regents & The Unvi & Washing
Individual
Free & Clear · 6 yrs held
Mailing address
CAMPUS #352210, SEATTLE, WA 98195-0001
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2020
—
Board Of Regents & The Unvi & Washing
Uw Medicine Of Northwest
Quit Claim Deed
related
—
Nov 19, 2015
$27,580,000
Hr Acquisition I Corp
John C Radovich LLC
Grant Deed
—
—
—
John C Radovich LLC
—
Deed Of Trust
related
$12,900,000 · Transamerica Occidental Life
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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