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Property profile & analytics
OFF-MARKET
Estimated value
$7,660,000
Distribution centers
1550 4th S Ave Seattle, WA 98134-1510
Entity Owned
~
Est. High Equity
Property ID
US90-0649938
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
47,368 SF
Lot
1.22 ac (53,310 SF)
Zoning code
IG2 U/85
APN
766620-4625
UPID
US90-0649938
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
-
Moving local Freight Service Logistics Company
-
1550 4th Ave S Parking Parking Lot & Garage
-
Invive Group (Bike/Boat/Book/etc) Store Corporate Office
-
4th & Massachussetts Parking Lot & Garage
-
Spire 1550 4th Ave - Parking Garage Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.01M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.66M
Owner & transaction history
Department Of Enterprise Services
Department Of Enterprise Services
since 2025
7 recorded transactions
Zoning & alternative use
IG2 U/85 · Seattle, WA
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%
$8,675,000
6.5%
$8,010,000
7%
$7,440,000
Blend value · Realmo final
$7.66M
Range $6.89M – $8.43M · ±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
$162 / 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
$140,097
Tax year 2022
Assessed value
$16,017,300
Assessed 2022
Previous assessed
$16,017,300
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$4,531,300
Assessed improvement
$11,486,000
Land market value
$4,531,300
Improvement market value
$11,486,000
Total market value
$16,017,300
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Total area
47,368 SF
Lot
1.22 ac (53,310 SF)
Zoning code
IG2 U/85
APN
766620-4625
UPID
US90-0649938
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/85 · Seattle, WAZoning IG2 U/85 · permitted uses
IG2 U/85 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Municipal Code
Building & site characteristics
From public records
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Lot
1.22 ac
Current owner
From public records · entity-resolved
Department Of Enterprise Services
Entity
Mailing address
1508 W BROADWAY VANCOUVER BC 6TH 1ST BC
Ownership since
2025
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
Nov 5, 2025
—
Department Of Enterprise Services
Spire 1550 4th Avenue LP
Deed
—
Jul 2, 2025
—
State Of Washington
Spire 1550 4th Avenue LP
Deed
—
Mar 4, 2025
—
State Of Washington
Spire 1550 Avenue LP
Deed
—
Dec 15, 2022
—
Spire 1550 4th Avenue LP
—
Deed
related
$110,000,000 · The Toronto Dominion Bank
May 18, 2016
$18,000,000
Spire 1550 4th Avenue LP
Seattle 1550 LLC
Grant Deed
$10,800,000 · Miscellaneous Ins Co
May 17, 2016
—
Raskin Family Holdings LLC
Seattle 1550 LLC
Quit Claim Deed
related
—
Sep 1, 2004
$2,490,446
Seattle 1550 LLC
Galante,raymond M & Jeannette
Deed Of Trust
related
$8,650,000 · Evertrust Bank
Nov 27, 1991
$572,500
Raymond M Galante
Arnsberg,hy S&as
Grant Deed
—
—
—
Seattle 1550 LLC
—
Deed Of Trust
related
$8,800,000 · Ge Commercial Finance Buss Pro
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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