Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1601 Eastlake E Ave Seattle, WA 98102-3708

    • Auto shops
    • 10,553 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Mar 14, 2024
    $4,200,000
    Value Estimations
    $4,200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0963082
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Wilson & Hayes Inc / Sheet Metal Contractor
    • Terry's Custom Auto Works / Auto Repair Shop / Auto Bodywork Mechanic

    Property Details for 1601 Eastlake E Ave

    Year built
    1923
    Construction
    FRAME
    Lot size
    0.13 lot acres
    Property size
    10,553 SF
    Zone code
    MML U/45
    Property type
    Auto shops
    APN
    338390-0176
    APU
    3383900176

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,200,000
      ML approach
      $4,200,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $4,340,000
      Current use
      RESTAURANT
      $5,540,000
      Change: +28% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $5,340,000
      Change: +23% Conversion: Moderate
      RETAIL STORES
      $4,230,000
      Change: -3% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $3,745,000
      Change: -14% Conversion: Difficult
      OFFICE BUILDING
      $3,730,000
      Change: -14% Conversion: Difficult
      MEDICAL BUILDING
      $3,630,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.326
    Latitude
    47.634
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $13,650
    $1,036,000
    $1,000
    $1,037,000
    -
    $1,036,000
    $1,000
    $1,037,000

    Comparable in this City

    • Value Estimation
      $13,590,000
      50,292 SF

      800 Roy St

      AUTO REPAIR, GARAGE • 50,292 SF
      800 Roy St, Seattle, WA 98102-4611
      View Details
    • Value Estimation
      $610,000
      7,200 SF

      1514 Fairview E Ave

      AUTO REPAIR, GARAGE • 7,200 SF
      1514 Fairview E Ave, Seattle, WA 98102
      View Details
    • Value Estimation by Request
      0.12 Acres

      10th E Ave

      PARKING LOT • 0.12 Acres
      10th E Ave, Seattle, WA 98102
      View Details
    • Value Estimation
      $3,455,000
      111,447 SF

      1265 10th E Ave

      PARKING GARAGE, PARKING STRUCTURE • 111,447 SF
      1265 10th E Ave, Seattle, WA 98102
      View Details
    • Value Estimation by Request
      0.28 Acres

      1901 Eastlake E Ave

      PARKING LOT • 0.28 Acres
      1901 Eastlake E Ave, Seattle, WA 98102-3632
      View Details
    • Value Estimation by Request
      0.11 Acres

      Harvard E Ave

      PARKING LOT • 0.11 Acres
      Harvard E Ave, Seattle, WA 98102
      View Details

    Similar Nearby for Sale

    • $599,000
      1,096 SF

      Seattle Commercial Condo For Sale

      Commercial condo in Capitol Hill, leased since 2007.
      745 Bellevue Ave E, Seattle, WA 98102
      View Details
    • $2,195,000
      5,448 SF

      Capitol Hill Mixed-Use Property

      Retail/office space with two apartments in vibrant Capitol Hill.
      231 Summit Ave E, Seattle, WA 98102
      View Details
    • $229,995

      Capitol Hill Turn-Key Restaurant

      Fully equipped restaurant in high-traffic Capitol Hill location.
      219 Broadway, Seattle, WA 98102
      View Details
    • $2,700,000

      Capitol Hill Apartments: 11 Units

      11-unit apartment building in Seattle's Capitol Hill neighborhood.
      219 Belmont Ave E, Seattle, WA 98102
      View Details
    • $2,000,000

      Seattle Investment Property For Sale

      Investment property available for purchase in Seattle, Washington.
      1800 Olive Way, Seattle, WA 98102
      View Details
    • $2,000,000

      Prime Montlake Townhome Development Site

      Townhome development site in Montlake, near Roanoke Lid project.
      2415 10Th Ave E | Seattle, Seattle, WA 98102
      View Details

    Similar Nearby for Lease

    • $36 SF/Yr
      5,634 SF

      Broadway Retail Space for Lease

      Remodeled basement-level retail space near Capitol Hill Sound Transit Station.
      206 Broadway East, Seattle, WA 98102
      View Details
    • $36 SF/Yr
      1,310 SF

      Turn Key Retail Space Available

      Prime retail space in new residential project, ideal for coffee.
      209 12Th Ave S, Seattle, WA 98102
      View Details
    • $34 SF/Yr
      1,703 SF

      Capitol Hill Retail Space Available

      Prime retail space in Seattle's vibrant Capitol Hill neighborhood.
      523 Broadway E, Seattle, WA 98102
      View Details
    • $30 SF/Yr
      1,787 SF

      Retail Space with High Ceilings

      Retail space featuring 20-foot ceilings, ideal for various businesses.
      104 12Th Ave, Seattle, WA 98102
      View Details
    • Contact for pricing
      8,876 SF

      Seattle Flex Space For Lease

      8,876 SF flex space available for lease in Seattle.
      4611 NW 11Th Ave NW, Seattle, WA 98102
      View Details
    • $30 SF/Yr
      1,975 SF

      Retail Space in Seattle Available

      Retail space available for lease in Seattle, Washington.
      103 12Th Ave, Seattle, WA 98102
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1601 Eastlake E Ave
    Seattle, WA 98102-3708
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.