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Property profile & analytics
OFF-MARKET
Retail properties & Spaces
15801 Westminster N Way Shoreline, WA 98133-5928
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1998164
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
25,250 SF
Lot
5.72 ac (249,192 SF)
Zoning code
MB
APN
182604-9470
UPID
US90-1998164
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mgp Xii Shoreline North LLC · 3 yrs held
Mgp Xii Shoreline North LLC
since 2022
Last sale
$27.5M
7 recorded transactions
Zoning & alternative use
MB · Shoreline, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the mixed business zone MB is to encourage the development of vertical and/or horizontal mixed use buildings or developments along the Aurora Avenue and Ballinger Way corridors
Zone name
Mixed Business
General category
MIXED_USE
Zone area
200.36 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$185,957
Tax year 2022
Assessed value
$14,561,800
Assessed 2022
Previous assessed
$14,561,800
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$8,721,700
Assessed improvement
$5,840,100
Land market value
$8,721,700
Improvement market value
$5,840,100
Total market value
$14,561,800
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
4
Stories
1
Total area
25,250 SF
Lot
5.72 ac (249,192 SF)
Zoning code
MB
APN
182604-9470
UPID
US90-1998164
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MB · Shoreline, WAZoning MB · permitted uses
MB · Shoreline, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the mixed business zone MB is to encourage the development of vertical and/or horizontal mixed use buildings or developments along the Aurora Avenue and Ballinger Way corridors
Zone name
Mixed Business
General category
MIXED_USE
Zone area
200.36 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1987
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Buildings
4
Lot
5.72 ac
Current owner
From public records · entity-resolved
Mgp Xii Shoreline North LLC
Entity
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 22, 2022
$27,516,250
Mgp Xii Shoreline North LLC
Roic Washington LLC
Bargain And Sale Deed
—
May 9, 2022
—
City Of Shoreline
Roic Washington LLC
Declaration
related
—
May 28, 2014
$15,250,000
Roic Washington LLC
Aurora Square 98 LLC
Grant Deed
—
Nov 25, 1998
$7,600,000
Aurora Square 98 LLC
Kern County Employees Retireme
Grant Deed
$6,720,000 · General Electric Capital Corp
May 17, 1988
$8,075,000
Kern County Employees
Overlake/aurora
Grant Deed
—
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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