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Property profile & analytics
OFF-MARKET
Estimated value
$492,730,000
Office buildings
1918 8th Ave Seattle, WA 98101-1244
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-3361975
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2009
Construction
STEEL FRAME
Total area
876,139 SF
Lot
0.33 ac (14,160 SF)
Zoning code
DOC2 500/300-550
APN
066000-0650
UPID
US90-3361975
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
-
Flory, Erin K Law Firm
-
KPMG Accounting Firm Tax Preparation
-
New Method Fitness Gym & Fitness Center
-
818 Stewart St. Parking Garage - ParkABM Parking Lot & Garage
-
National Association of Construction Auditors Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$441.38M
Blend (final)
Blend
$492.73M
Owner & transaction history
Hudson 1918 Eighth Avenue LLC · 5 yrs held
Hudson 1918 Eighth Avenue LLC
since 2020
Last sale
$588.7M
7 recorded transactions
Zoning & alternative use
DOC2 500/300-550 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$459.8M
+48.5%
Commercial (general)
$443.3M
+43.2%
Auto repair, garage
$360.5M
+16.4%
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
Method
Estimation
Statistic approach
$592,445,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$309,610,000
Current use
RESTAURANT
$459,770,000
Change: +49% · Conversion: Moderate
COMMERCIAL (GENERAL)
$443,335,000
Change: +43% · Conversion: Easy
AUTO REPAIR, GARAGE
$360,450,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$351,325,000
Change: +13% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$310,730,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$301,260,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$492.73M
Range $443.46M – $542.00M · ±10% · vs last sale $588.71M (Dec 21 2020)
Last sale anchor
$588.71M
Dec 21 2020
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
$562 / 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
$3,384,880
Tax year 2022
Assessed value
$416,583,000
Assessed 2022
Previous assessed
$416,583,000
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$21,222,700
Assessed improvement
$395,360,300
Land market value
$21,222,700
Improvement market value
$395,360,300
Total market value
$416,583,000
Applied tax rate
11.0000
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
Off-Market
Year built
2009
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
36
Total area
876,139 SF
Lot
0.33 ac (14,160 SF)
Zoning code
DOC2 500/300-550
APN
066000-0650
UPID
US90-3361975
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DOC2 500/300-550 · Seattle, WA
Zoning DOC2 500/300-550 · permitted uses
DOC2 500/300-550 · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$309.6M
RESTAURANT
Est. value
$459.8M
COMMERCIAL (GENERAL)
Est. value
$443.3M
AUTO REPAIR, GARAGE
Est. value
$360.5M
RETAIL STORES
Est. value
$351.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$310.7M
MEDICAL BUILDING
Est. value
$301.3M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
2009
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
36
Lot
0.33 ac
Current owner
From public records · entity-resolved
Hudson 1918 Eighth Avenue LLC
Entity
Free & Clear · 5 yrs held
Mailing address
11601 WILSHIRE BLVD FL, LOS ANGELES, CA 90025-0509
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2020
$588,714,528
Hudson 1918 Eighth Avenue LLC
1918 Eighth Avenue Holdco LLC
Bargain And Sale Deed
—
Dec 19, 2018
—
1918 Eighth Avenue Holdco LLC
1918 Eighth Ave Acquisition Ll
Quit Claim Deed
related
$800,000,000 · Miscellaneous Ins Co
Aug 10, 2011
$350,108,054
1918 Eighth Avenue Acquisition
1918 Eighth LLC
Grant Deed
—
Jun 13, 2008
—
1918 Eighth LLC
S/i Seattle Investments I LLC
Grant Deed
related
$220,000,000 · Bank Of America
Feb 9, 2007
—
S/i Seattle Investments I LLC
Avanto Park Properties
Grant Deed
related
—
Feb 7, 2007
$7,020,000
S/i Seattle Investments I LLC
Avanti Park Properties
Warranty Deed
—
—
—
1918 Eighth Avenue Acquisition
—
Deed Of Trust
related
$800,000,000 · Teachers Insurance & Annuity
—
—
1918 Eighth Avenue Acquisition
—
Deed Of Trust
related
$800,000,000 · Teachers Insurance & Annuity
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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