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Property profile & analytics
FOR LEASE
Office buildings
17544 Midvale Ave N, Shoreline, WA 98133
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0714295
For Lease
1 / 2
$10 SF/Yr
17544 Midvale Ave N, Shoreline, WA 98133
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,362 SF
Lot
0.61 ac (26,484 SF)
Zoning code
TC-3
APN
072604-9152
UPID
US90-0714295
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
$4.15M
CAP Approach
CAP
$5.12M
Comparable Approach
Comparable
$4.39M
Blend (final)
Blend
$4.15M
Owner & transaction history
City Of Shoreline · 2 yrs held
City Of Shoreline
since 2024
Last sale
$4.2M
6 recorded transactions
Zoning & alternative use
TC-3 · Shoreline, 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 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
Method
Estimation
Statistic approach
$4,150,000
ML approach
$4,150,000
CAP Approach
CAP Return
Estimation
6%
$5,545,000
6.5%
$5,120,000
7%
$4,755,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,310,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$4.15M
Range $3.74M – $4.57M · ±10% · vs last sale $4.15M (May 8 2024)
Last sale anchor
$4.15M
May 8 2024
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
$194 / 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
$39,353
Tax year 2024
Assessed value
$2,520,700
Assessed 2023
Previous assessed
$2,520,700
+0.0% YoY
Effective rate
1.56%
On assessed value
Assessed land
$1,986,300
Assessed improvement
$534,400
Land market value
$1,986,300
Improvement market value
$534,400
Total market value
$2,520,700
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
3
Total area
21,362 SF
Lot
0.61 ac (26,484 SF)
Zoning code
TC-3
APN
072604-9152
UPID
US90-0714295
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
TC-3 · Shoreline, WA
Zoning TC-3 · permitted uses
TC-3 · Shoreline, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shoreline. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$6.3M
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
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
3
Lot
0.61 ac
Current owner
From public records · entity-resolved
City Of Shoreline
Entity
Ownership since
2024
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
May 8, 2024
$4,150,000
City Of Shoreline
17544 Midvale Avenue North LLC
Warranty Deed
—
Jan 11, 2022
—
17544 Midvale Avenue North LLC
Chung N Lee
Quit Claim Deed
related
$1,215,000 · Us Bank NA
Apr 20, 2009
—
17544 Midvale Avenue North LLC
Lee,chung N & Bik-lam
Quit Claim Deed
related
—
Sep 17, 2007
$3,200,000
Chung N Lee
Shoreline Bus & Professional Center
Warranty Deed
$2,000,000 · Washington Mutual Bank
—
—
17544 Midvale Avenue North LLC
—
Deed Of Trust
related
$1,750,000 · Boeing Emps Cu
—
—
Business Shoreline
—
Deed Of Trust
related
$1,475,000 · Washington Mutual Fsb
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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