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Property profile & analytics
FOR LEASE
Parking lots & garages
1601 3Rd Ave Seattle, WA 98101
Entity Owned
20-yr Hold
Free & Clear
Property ID
US90-0170712
No photos on file
For Lease
$10,150,000
1601 3Rd Ave, Seattle, WA 98101
View Listing →
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1959
Construction
CONCRETE
Total area
349,184 SF
Lot
0.72 ac (31,262 SF)
Zoning code
DMC 240/290-440
APN
197720-0980
UPID
US90-0170712
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
-
Enterprise Rent-A-Car Car Rental Facility
-
National Car Rental Car Rental Facility
-
Delta Airlines tickets Freight Service Logistics Company
-
Alamo Rent A Car Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.15M
Owner & transaction history
Pine Garage LLC · 20 yrs held
Pine Garage LLC
since 2006
7 recorded transactions
Zoning & alternative use
DMC 240/290-440 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$29 / 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
$417,517
Tax year 2024
Assessed value
$48,663,900
Assessed 2023
Previous assessed
$48,663,900
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$27,354,200
Assessed improvement
$21,309,700
Land market value
$27,354,200
Improvement market value
$21,309,700
Total market value
$48,663,900
Applied tax rate
11.0000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
1959
Construction
CONCRETE
Heating
OTHER
Cooling
OTHER
Stories
9
Total area
349,184 SF
Lot
0.72 ac (31,262 SF)
Zoning code
DMC 240/290-440
APN
197720-0980
UPID
US90-0170712
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DMC 240/290-440 · Seattle, WA
Zoning DMC 240/290-440 · permitted uses
DMC 240/290-440 · 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.
Building & site characteristics
From public records
Year built
1959
Construction
CONCRETE
Heating
OTHER
Cooling
Yes
Stories
9
Lot
0.72 ac
Current owner
From public records · entity-resolved
Pine Garage LLC
Entity
Free & Clear · 20 yrs held
Mailing address
PO BOX 131237, CARLSBAD, CA 92013-1237
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2018
—
1601 Third Avenue Wa LLC
—
Deed
related
$35,200,000 · Citi R/e Fndg INC
May 24, 2006
—
Pine Garage LLC
Garage Partners LLC
Quit Claim Deed
related
—
May 12, 2005
—
Block 45 LLC
Lot 10 & 11 LLC
Quit Claim Deed
related
—
Jan 21, 2004
—
Kathleen E Murray
Ostler,william L Est
Grant Deed
related
—
Jan 15, 2004
—
Lots 2 3 & 6 LLC
Maj Thomas LLC
Quit Claim Deed
related
—
Dec 30, 1999
—
Maj Thomas LLC
Thomas,margaret P
Quit Claim Deed
related
—
Nov 15, 1999
$400,000
Bon INC
Mailman,virginia
Grant Deed
—
—
—
1601 Third Avenue Wa LLC
—
Deed Of Trust
related
$35,200,000 · Citi R/e Fndg INC
—
—
Garage Partners LLC
—
Deed Of Trust
related
—
—
—
Pine Garage LLC
—
Deed Of Trust
related
—
—
—
Garage Partners LLC
—
Deed Of Trust
related
—
—
—
Garage Partners LLC
—
Deed Of Trust
related
—
—
—
Gm Pine Street Garage LLC
—
Deed Of Trust
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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