16325 5Th Ave NE Shoreline, WA 98155
Property Lookup
Property profile & analytics
16325 5Th Ave NE Shoreline, WA 98155
- Warehouses
- 23,900 SF
- 2.59 lot acres
Property ID
US90-1210044
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.
Location Intelligence
Current Use by Public Records
- Warehouses
Property Details for 16325 5Th Ave NE
- Year built
- 1955
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 2.59 lot acres
- Property size
- 23,900 SF
- Zone code
- CB
- Property type
- Warehouses
- APN
- 730130-0185
- APU
- 7301300185
Description
This exceptional 2.59-acre site in Shoreline, WA, presents a compelling redevelopment opportunity. Currently housing a 24,020 square foot, single-story building with a 100% occupancy rate and a substantial net operating income (NOI) of $556,272, this property offers significant potential. The existing structure, a concrete block building, is utilized as a service industrial facility. The property features convenient access points on both 5th Avenue NE and 165th, and is fully fenced and paved, except for a portion on the southwest side. Its R24 zoning permits high-density multifamily development, aligning perfectly with the high demand for housing in this area. The site's prime location is less than a mile from the new Link Light Rail Park and Ride at 145th Street & Interstate 5, with a bus stop directly adjacent, offering excellent public transportation access. Furthermore, designated bike lanes run along 5th Avenue NE, enhancing its appeal to environmentally conscious residents. The property's flat, rectangular shape is highly desirable for developers seeking to maximize buildable space. The existing income stream can help offset carrying costs during the entitlement process. This established neighborhood location, near Shoreline schools and parks, offers a distinct advantage over higher-density corridors. The planned completion of Link Light Rail connections at 145th and 185th in 2024 will further enhance the property's value and desirability. The property's address is 16325 5th Ave NE, Shoreline, WA 98155, King County. The site consists of 466 units and was built in 1955. This is a Class C multifamily investment property categorized as an apartment building, single-family rental portfolio, and student housing, suitable for mixed-use redevelopment.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,380,000
- 6.5%
- $4,040,000
- 7%
- $3,755,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Shoreline
- County
- King
- State
- Washington
- Longitude
- -122.325
- Latitude
- 47.748
- 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
2022
$65,791
$5,075,500
$1,000
$5,076,500
-
$5,075,500
$1,000
$5,076,500
