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Property profile & analytics
OFF-MARKET
Estimated value
$4,420,000
Office buildings
1601 19th Ave, Seattle, WA 98122
Entity Owned
~
Est. High Equity
Property ID
US90-0032592
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
WOOD
Total area
12,680 SF
Lot
0.32 ac (13,964 SF)
Zoning code
NC2-55 (M)
APN
723460-1330
UPID
US90-0032592
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
$3.66M
Comparable Approach
Comparable
$4.49M
Blend (final)
Blend
$4.42M
Owner & transaction history
Capitol Hill 1609 LLC
Capitol Hill 1609 LLC
since 2025
Last sale
$4.8M
6 recorded transactions
Zoning & alternative use
NC2-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.1M
+57.4%
Restaurant
$6.7M
+48.5%
Auto repair, garage
$5.2M
+16.4%
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%
$3,955,000
6.5%
$3,655,000
7%
$3,390,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,480,000
Current use
COMMERCIAL (GENERAL)
$7,055,000
Change: +57% · Conversion: Easy
RESTAURANT
$6,655,000
Change: +49% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,215,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$5,085,000
Change: +13% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$4,495,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$4,360,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$3,745,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$4.42M
Range $3.98M – $4.86M · ±10% · vs last sale $4.77M (Jun 26 2025)
Last sale anchor
$4.77M
Jun 26 2025
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
$349 / 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
$39,108
Tax year 2022
Assessed value
$4,609,100
Assessed 2022
Previous assessed
$4,609,100
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$4,608,100
Assessed improvement
$1,000
Land market value
$4,608,100
Improvement market value
$1,000
Total market value
$4,609,100
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1984
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
3
Total area
12,680 SF
Lot
0.32 ac (13,964 SF)
Zoning code
NC2-55 (M)
APN
723460-1330
UPID
US90-0032592
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2-55 (M) · Seattle, WA
Zoning NC2-55 (M) · permitted uses
NC2-55 (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
OFFICE BUILDING Current
Est. value
$4.5M
COMMERCIAL (GENERAL)
Est. value
$7.1M
RESTAURANT
Est. value
$6.7M
AUTO REPAIR, GARAGE
Est. value
$5.2M
RETAIL STORES
Est. value
$5.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.5M
MEDICAL BUILDING
Est. value
$4.4M
WAREHOUSE, STORAGE
Est. value
$3.7M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL 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
1984
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
3
Lot
0.32 ac
Current owner
From public records · entity-resolved
Capitol Hill 1609 LLC
Entity
Mailing address
1401 E JEFFERSON ST STE #503, SEATTLE, WA 98122-5570
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2025
$4,770,000
Capitol Hill 1609 LLC
Spring Rental LLC
Warranty Deed
$13,582,000 · Mountain Pacific Bank
Apr 10, 2025
—
City Of Seattle
Spring Rental LLC
Deed
—
Jun 28, 2024
—
Spring Rental LLC
—
Deed
related
$1,900,000 · Pacific Crest Savings Bank
Sep 12, 2016
$3,210,000
Spring Rental LLC
Mount Zion Baptist Church
Warranty Deed
$1,213,307 · Kitsap Bank
Apr 4, 2007
$2,100,000
Mount Zion Baptist Church
Seattle Hearing & Speech Ctr I
Warranty Deed
$1,365,000 · Cowlitz Bank
Dec 3, 1999
$1,050,000
Madison Housing Partners Phase
Hearing Speech & Deafness Cent
Grant Deed
$972,000 · Seller
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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