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Property profile & analytics
OFF-MARKET
Estimated value
$8,110,000
Grocery and convenience stores
15505 Westminster N Way, Shoreline, WA 98133-5927
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-1369360
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
29,030 SF
Lot
2.94 ac (128,066 SF)
Zoning code
MB
APN
030650-0060
UPID
US90-1369360
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.58M
CAP Approach
CAP
$7.90M
Comparable Approach
Comparable
$10.03M
Blend (final)
Blend
$8.11M
Owner & transaction history
Mgp Xii Shoreline South LLC · 3 yrs held
Mgp Xii Shoreline South LLC
since 2022
Last sale
$8.7M
7 recorded transactions
Zoning & alternative use
MB · Shoreline, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$11.9M
+2.6%
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 Shoreline submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shoreline 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
$7,730,000
ML approach
$7,575,000
CAP Approach
CAP Return
Estimation
6%
$8,555,000
6.5%
$7,895,000
7%
$7,335,000
Alternative Use
Use
Estimation
RETAIL STORES
$11,640,000
Current use
AUTO REPAIR, GARAGE
$11,945,000
Change: +3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$10,295,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$10,260,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$9,980,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$8.11M
Range $7.30M – $8.92M · ±10% · vs last sale $8.68M (Aug 19 2022)
Last sale anchor
$8.68M
Aug 19 2022
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
$279 / 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
$78,813
Tax year 2022
Assessed value
$5,738,300
Assessed 2022
Previous assessed
$5,738,300
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$4,482,300
Assessed improvement
$1,256,000
Land market value
$4,482,300
Improvement market value
$1,256,000
Total market value
$5,738,300
Applied tax rate
2,263.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
2
Stories
1
Total area
29,030 SF
Lot
2.94 ac (128,066 SF)
Zoning code
MB
APN
030650-0060
UPID
US90-1369360
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MB · Shoreline, WA
Zoning MB · permitted uses
MB · Shoreline, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shoreline. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$11.6M
AUTO REPAIR, GARAGE
Est. value
$11.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.3M
OFFICE BUILDING
Est. value
$10.3M
MEDICAL BUILDING
Est. value
$10.0M
RETAIL STORES Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
2
Lot
2.94 ac
Current owner
From public records · entity-resolved
Mgp Xii Shoreline South LLC
Entity
Free & Clear · 3 yrs held
Mailing address
4365 EXECUTIVE DR STE #1400, SAN DIEGO, CA 92121-2131
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2025
—
Mgp Xii Shoreline North LLC
—
Deed
related
$300,000,000 · Wells Fargo Bank NA
Aug 5, 2024
—
Mgp Xii Shoreline North LLC
—
Deed
related
—
Aug 19, 2022
$8,676,400
Mgp Xii Shoreline South LLC
Roic Washington LLC
Bargain And Sale Deed
—
May 3, 2012
$4,192,000
Roic Washington LLC
Sea-wash Properties LLC
Grant Deed
—
Feb 26, 1999
—
Sea-wash Properties LLC
Horie Trust
Grant Deed
related
—
Dec 21, 1993
$2,650,000
Nobuyuki Nakasone
Kingdale Propert
Grant Deed
—
—
—
Sea-wash Properties LLC
—
Deed Of Trust
related
$1,000,000 · Standard Insurance Co
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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