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    1885 15th NW Pl Issaquah, WA 98027-8903
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    Property profile & analytics

    1885 15th NW Pl Issaquah, WA 98027-8903

    View on Map
    • Hotels
    • 27,460 SF
    • 1.92 lot acres
    Off-Market
    Last Sale Jan 13, 2026
    $9,555,047
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    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

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — 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

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      1484 Hyla NW Ave

      HOTEL/MOTEL • 116,484 SF
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      $12,155,000
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      1185 Maple St

      HOTEL/MOTEL • 149,567 SF
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    • Value Estimation
      $4,720,000
      103,192 SF

      1800 Gilman Blvd

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

      10610 Renton Issaquah SE Rd

      CAMPGROUND, RV PARK • 24.30 Acres
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    • Value Estimation by Request
      0.10 Acres

      4515 Lk Sammamish SE Pkwy

      VACANT COMMERCIAL LAND • 0.10 Acres
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    Similar Nearby for Sale

    • Contact for pricing

      Mirrormont Buildable Lot Over Acre

      Private 1+ acre lot in Mirrormont, Issaquah School District.
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      Issaquah Specialty Property For Sale

      Specialty property in Issaquah, WA, totaling 4,407 square feet.
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    • $4,400,000
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      Issaquah Two-Story Commercial Building

      8,289 SF two-story building suitable for owner/user or investment.
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      3,160 SF

      Issaquah Multifamily Property For Sale

      Multifamily property in downtown Issaquah, remodeled in 2024.
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    • $19,000,000
      44,343 SF

      Class A Office Space

      Class A office space with I-90 access and retail amenities.
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      Wildwood Lot on Squak Mountain

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    Similar Nearby for Lease

    • $2,223 /Mo
      485 SF

      Office Space Available For Rent

      Office space available for rent in Issaquah, WA.
      1480 Gilman Blvd, Issaquah, WA 98027
      View Details
    • $2,402 /Mo
      1,153 SF

      Office Space with Natural Light

      Second-floor office space featuring abundant natural light and patio access.
      375 Gilman Blvd, Issaquah, WA 98027
      View Details
    • $1,735 /Mo
      833 SF

      Issaquah Commercial Space Available

      Commercial space available for rent in Issaquah, Washington.
      375 Gilman Blvd, Issaquah, WA 98027
      View Details
    • $740 /Mo
      2,961 SF

      Retail Space in Gilman Village

      Combined retail space with entrances from Gilman Village and Gilman Blvd.
      317 Gilman Blvd, Issaquah, WA 98027
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    • $6,135 /Mo
      2,583 SF

      Medical Office Space For Rent

      Class A medical office space with easy I-90 access.
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    • Contact for pricing
      6,000 SF

      Issaquah Parking Lot For Rent

      Asphalt parking lot in active Issaquah neighborhood, convenient location.
      1850-1850 NW Gilman Blvd, Issaquah, WA 98027
      View Details
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    Issaquah, WA 98027-8903
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    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
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