New search
Property profile & analytics
FOR LEASE
Office buildings
1900 Rainier Ave S, Seattle, WA 98144
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-1626388
For Lease
$6,565,000
1900 Rainier Ave S, Seattle, WA 98144
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2009
Construction
STEEL FRAME
Total area
38,075 SF
Lot
0.97 ac (42,246 SF)
Zoning code
NC3-75 (M)
APN
149830-2455
UPID
US90-1626388
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
Current use
Occupant on record · Public records
-
Dr. Marya Barey Physician Medical Clinic
-
Suzanne H. Mccallum, MA Physician
-
Wellspring EAP Crisis Center Medical Clinic
-
Wellspring Family Services Charitable Organization Social Service Agency
-
Maryam Brown Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.57M
Owner & transaction history
Wellspring Family Services · 10 yrs held
Wellspring Family Services
since 2015
7 recorded transactions
Zoning & alternative use
NC3-75 (M) · Seattle, 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 Seattle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seattle 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$172 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$7,965
Tax year 2022
Assessed value
$10,760,600
Assessed 2022
Previous assessed
$10,760,600
+0.0% YoY
Effective rate
0.07%
On assessed value
Assessed land
$6,759,300
Assessed improvement
$4,001,300
Land market value
$6,759,300
Improvement market value
$4,001,300
Total market value
$10,760,600
Applied tax rate
13.0000
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
2009
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Total area
38,075 SF
Lot
0.97 ac (42,246 SF)
Zoning code
NC3-75 (M)
APN
149830-2455
UPID
US90-1626388
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3-75 (M) · Seattle, WA
Zoning NC3-75 (M) · permitted uses
NC3-75 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2009
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Lot
0.97 ac
Current owner
From public records · entity-resolved
Wellspring Family Services
Individual
Mailing address
1900 RAINIER AVE S, SEATTLE, WA 98144-4606
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2024
—
Wellspring Family Services
—
Deed
related
$800,000 · Rainier Valley Community Dev Fund
Jun 15, 2022
—
Wellspring Family Services
—
Deed
related
$6,500,000 · Zb NA
Apr 9, 2018
—
Wellspring Family Services
—
Deed
related
$1,000,000 · David Hiatt
May 12, 2016
—
Wellspring Family Services
—
Deed
related
$500,000 · David Hiatt
Oct 16, 2015
—
Wellspring Family Services
Family Services Property LLC
Quit Claim Deed
$5,404,773 · Private Individual
Jul 23, 2008
$250,000
City Of Seattle
Family Services Property LLC
Grant Deed
—
Jul 8, 2008
—
City Of Seattle
Family Services Property LLC
Grant Deed
—
Jun 15, 2007
$2,275,000
Family Services Property LLC
Rodney S Madden
Warranty Deed
$2,385,830 · Wells Fargo Bank NA
Apr 10, 2006
—
Rodney S Madden
Plum Street Associates
Warranty Deed
—
Apr 26, 1989
$1,300,000
Plum Street Associates L P
Adohr Farms INC
Grant Deed
—
Apr 5, 1988
$2,000,000
Morningstar Foods INC
Southland
Grant Deed
—
—
—
Family Services Property LLC
—
Deed Of Trust
related
$9,614,000 · Key Community Dev New Markets
—
—
Wellspring Family Services
—
Deed Of Trust
related
$500,000 · David Hiatt
—
—
Wellspring Family Services
—
Loan Modification
related
$1,000,000 · David Hiatt
—
—
Family Services Property LLC
—
Deed Of Trust
related
$1,780,160 · Perguson Const INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
