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Property profile & analytics
FOR SALE
Commercial real estate
18449 1St Ave S Normandy Park, WA 98166
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-2841391
No photos on file
For Sale
$2,300,000
18449 1St Ave S, Normandy Park, WA 98166
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,996 SF
Lot
0.31 ac (13,673 SF)
Zoning code
MU
APN
050200-0200
UPID
US90-2841391
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
$2.20M
CAP Approach
CAP
$1.42M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.17M
Owner & transaction history
Tran Investment LLC · 5 yrs held
Tran Investment LLC
since 2020
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
MU · Normandy Park, 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 Normandy Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Normandy Park 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
$2,280,000
ML approach
$2,200,000
CAP Approach
CAP Return
Estimation
6%
$1,540,000
6.5%
$1,420,000
7%
$1,320,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,540,000
Current use
AUTO REPAIR, GARAGE
$2,880,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$2.17M
Range $1.95M – $2.39M · ±10% · vs last sale $2.10M (Feb 2 2026)
Last sale anchor
$2.10M
Feb 2 2026
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
$310 / 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
$27,418
Tax year 2024
Assessed value
$1,875,400
Assessed 2023
Previous assessed
$1,875,400
+0.0% YoY
Effective rate
1.46%
On assessed value
Assessed land
$300,800
Assessed improvement
$1,574,600
Land market value
$300,800
Improvement market value
$1,574,600
Total market value
$1,875,400
Applied tax rate
1,898.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
3
Units
6
Total area
6,996 SF
Lot
0.31 ac (13,673 SF)
Zoning code
MU
APN
050200-0200
UPID
US90-2841391
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MU · Normandy Park, WA
Zoning MU · permitted uses
MU · Normandy Park, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Normandy Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$2.9M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
3
Units
6
Lot
0.31 ac
Current owner
From public records · entity-resolved
Tran Investment LLC
Entity
Mailing address
8437 S 113TH ST, SEATTLE, WA 98178-3314
Ownership since
2020
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
Sep 15, 2020
$2,000,000
Tran Investment LLC
Bt Property Investments LLC
Warranty Deed
$1,530,995 · Eastside Funding LLC
Feb 18, 2020
—
West Seattle Modern Design LLC
—
Deed Of Trust
related
$1,200,000 · Vladimir Vinnichuk
Jun 14, 2019
$1,600,000
Bt Property Investments LLC
Petrus Living INC
Warranty Deed
$1,331,200 · Eastside Funding LLC
Mar 29, 2019
—
Petrus Living INC
—
Trustees Deed
related
$300,000 · Vladimir Vinnichuk
Aug 31, 2018
$800,000
Petrus Living INC
Belleme LLC
Warranty Deed
—
Mar 31, 2017
$1,500,000
Belleme LLC
Nw 50th St LLC
Trustees Deed
$6,790,000 · Pbrelf I LLC
Jul 26, 2013
$680,000
Nw 50th St LLC
Northwest Te Svcs INC|le Cartier De Normandie LLC
Trustees Deed
—
Jul 26, 2013
—
Nw 50th St LLC
Eastside Fndg LLC
Quit Claim Deed
related
—
Mar 30, 2007
$1,100,000
Le Cartier Normandie LLC
Ho,van N
Warranty Deed
$660,000 · United Com'l Bk
Aug 1, 2005
—
Ho,van G
Nguyen,hung V
Quit Claim Deed
related
—
—
—
Petrus Living INC
—
Deed Of Trust
related
$475,000 · Pbrelf I LLC
—
—
Belleme LLC
—
Loan Modification
related
$7,854,600 · Other Institutional Lenders
—
—
Petrus Living INC
—
Loan Modification
related
$2,151,500 · Other Institutional Lenders
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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