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

    1885 15th NW Pl Issaquah, WA 98027-8903

    • Hotels
    • 27,460 SF
    • 1.92 lot acres
    OFF-MARKET
    Last Sale
    Nov 23, 2020
    $5,540,320
    Value Estimations
    $5,870,000
    Show details
    Cap Rate Potential
    3.3%
    Hotels
    Location Intelligence
    Property ID
    US90-0681644
    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

    • Isalis / Gift Shop / Boutique
    • Party City / Costume Store / Party Store
    • Skunk Funk / Corporate Campus / Wholesaler
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

    Property Details for 1885 15th NW Pl

    Year built
    1978
    Construction
    WOOD
    Lot size
    1.92 lot acres
    Property size
    27,460 SF
    Zone code
    UC
    Property type
    Hotels
    Property subtype
    Motels
    APN
    894710-0010
    APU
    8947100010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,315,000
      ML approach
      $6,090,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $9,195,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Issaquah
    County
    King
    State
    Washington
    Longitude
    -122.061
    Latitude
    47.5507
    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
    $69,561
    $2,340,200
    $6,833,500
    $9,173,700
    -
    $2,340,200
    $6,833,500
    $9,173,700

    Comparable in this City

    • Value Estimation
      $12,155,000
      149,567 SF

      1185 Maple St

      HOTEL/MOTEL • 149,567 SF
      1185 Maple St, Issaquah, WA 98027-8107
      View Details
    • Value Estimation
      $9,520,000
      116,484 SF

      1484 Hyla NW Ave

      HOTEL/MOTEL • 116,484 SF
      1484 Hyla NW Ave, Issaquah, WA 98027-4501
      View Details
    • Value Estimation
      $5,030,000
      55,480 SF

      1801 12th NW Ave

      HOTEL/MOTEL • 55,480 SF
      1801 12th NW Ave, Issaquah, WA 98027-8900
      View Details
    • Value Estimation
      $4,720,000
      103,192 SF

      1800 Gilman Blvd

      HOTEL/MOTEL • 103,192 SF
      1800 Gilman Blvd, Issaquah, WA 98027-5302
      View Details
    • Value Estimation by Request
      24.30 Acres

      10610 Renton Issaquah SE Rd

      CAMPGROUND, RV PARK • 24.30 Acres
      10610 Renton Issaquah SE Rd, Issaquah, WA 98027-8645
      View Details
    • Value Estimation by Request
      1.49 Acres

      1450 Gilman Blvd

      PARKING LOT • 1.49 Acres
      1450 Gilman Blvd, Issaquah, WA 98027-5327
      View Details

    Similar Nearby for Sale

    • $4,650,000

      Issaquah Office Building For Sale

      Office building with long-term tenant and owner-user opportunity in Issaquah.
      185 Gilman Blvd, Issaquah, WA 98027
      View Details
    • $250,000

      Squak Mountain Land with Views

      Land with mountain views, equestrian trails, and utilities access.
      116 198Th Ave se, Issaquah, WA 98027
      View Details
    • $850,000
      2,051 SF

      Office/Retail Condo Ready

      Office/Retail condo for sale, ready for improvements.
      14509 Cedar Grove Rd SE Issaquah, Issaquah, WA 98027
      View Details
    • $3,720,000
      4,407 SF

      Issaquah Specialty Property For Sale

      Specialty property in Issaquah, WA, totaling 4,407 square feet.
      765-785 Rainier Blvd N, Issaquah, WA 98027
      View Details
    • $1,950,000

      New Flex/Warehouse/Office Space For Sale

      New construction flex/warehouse/office space with roll-up doors.
      14497 Cedar Grove Rd SE Issaquah, Issaquah, WA 98027
      View Details
    • $799,800

      Charming Home Backing Berntsen Park

      Inviting home in Olde Town Issaquah near parks and amenities.
      330 NW Holly St, Issaquah, WA 98027
      View Details

    Similar Nearby for Lease

    • $3,250 /Mo
      1,153 SF

      Serene Townhome with Forest Views

      End-unit townhome with vaulted ceilings, natural light, and forest views.
      601 12Th Ave NW, Issaquah, WA 98027
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space in Issaquah

      Retail space available for lease in Issaquah, Washington.
      1065-1185 NW Gilman Blvd, Issaquah, WA 98027
      View Details
    • Contact for pricing
      558 SF

      Office Space in Issaquah

      Office unit available for rent in Issaquah, Washington.
      355 NW Gilman Blvd, Issaquah, WA 98027
      View Details
    • Contact for pricing
      2,490 SF

      Class A Office Suite

      2,490 SF office suite with mountain views and high ceilings.
      1700 NW Gilman Blvd, Issaquah, WA 98027
      View Details
    • Contact for pricing
      1,239 SF

      Corner Office with Natural Light

      Office space with private offices, kitchenette, and ample parking.
      1495 Northwest Gilman Blvd, Issaquah, WA 98027
      View Details
    • $26 SF/Yr
      2,130 SF

      Industrial Space in Issaquah

      2130 square feet of industrial space available for rent.
      1085 Newport Way NW, Issaquah, WA 98027
      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.
    1885 15th NW Pl
    Issaquah, WA 98027-8903
    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.