Add Listing
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

    1922 23rd S Ave Seattle, WA 98144-4616

    • Warehouses
    • 2,400 SF
    • 0.12 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1246199
    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

    • Auto Salon at Leschi / Car Wash

    Property Details for 1922 23rd S Ave

    Year built
    1967
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.12 lot acres
    Property size
    2,400 SF
    Zone code
    NC3-75 (M)
    Property type
    Warehouses
    APN
    149830-2805
    APU
    1498302805

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.303
    Latitude
    47.5856
    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
    $7,522
    $806,400
    $1,000
    $807,400
    -
    $806,400
    $1,000
    $807,400

    Comparable in this City

    • Value Estimation
      $565,000
      5,904 SF

      1300 Weller St

      WAREHOUSE, STORAGE • 5,904 SF
      1300 Weller St, Seattle, WA 98144-2051
      View Details
    • Value Estimation
      $670,000
      4,050 SF

      2005 24th S Ave

      WAREHOUSE, STORAGE • 4,050 SF
      2005 24th S Ave, Seattle, WA 98144
      View Details
    • Value Estimation by Request
      7,368 SF

      927 Rainier S Ave

      WAREHOUSE, STORAGE • 7,368 SF
      927 Rainier S Ave, Seattle, WA 98144-2839
      View Details
    • Value Estimation by Request
      3,007 SF

      2606 Jackson St

      WAREHOUSE, STORAGE • 3,007 SF
      2606 Jackson St, Seattle, WA 98144
      View Details
    • Value Estimation by Request
      10,277 SF

      824 Poplar S Pl, Unit 828

      WAREHOUSE, STORAGE • 10,277 SF
      824 Poplar S Pl, Seattle, WA 98144-2828
      View Details
    • Value Estimation
      $725,000
      4,635 SF

      501 12th S Ave

      WAREHOUSE, STORAGE • 4,635 SF
      501 12th S Ave, Seattle, WA 98144-2005
      View Details

    Similar Nearby for Sale

    • New
      Contact for pricing
      13,365 SF

      Interbay Flex/Industrial/Office Building For Lease

      13,365 SF building in thriving Interbay submarket, Seattle.
      4237 24Th Ave W, Seattle, WA 98144
      View Details
    • Contact for pricing
      13,740 SF

      Magnolia Industrial Manufacturing Facility

      13,740 SF manufacturing facility with office/warehouse space for sale.
      4400 24Th Ave W, Seattle, WA 98144
      View Details
    • $1,295,000

      South Seattle Industrial Building

      8,000 SF industrial building in South Seattle for sale.
      836 Poplar Pl S, Seattle, WA 98144
      View Details
    • Contact for pricing

      Rainier Avenue R&D Building

      Class A high-tech facility in central Seattle.
      2001-2028 22Nd Ave S, Seattle, WA 98144
      View Details
    • Contact for pricing
      2,376 SF

      Seattle Redevelopment Opportunity

      2,376 SF building on 0.16 acres near transit.
      3300 Martin Luther King Jr Way S, Seattle, WA 98144
      View Details

    Similar Nearby for Lease

    • $800 /Mo
      340 SF

      Industrial Warehouse Space Available

      Grade-level industrial warehouse with easy access to I-5 and I-90.
      1128 Poplar Pl S, Seattle, WA 98144
      View Details
    • Contact for pricing
      19,530 SF

      Office and Storage Space Available

      Office and storage space for rent in Seattle, WA.
      1130 Rainier Ave S, Seattle, WA 98144
      View Details
    • Contact for pricing
      100,000 SF

      Industrial Space in Seattle Available

      100,000 square feet of warehouse/industrial space for lease.
      2646-2700 Rainier Ave S, Seattle, WA 98144
      View Details
    • Contact for pricing
      8,101 SF

      Functional Office Space Near I-90

      Office space with I-90 and I-5 access, minutes from downtown.
      828 Poplar Pl S, Seattle, WA 98144
      View Details
    • Contact for pricing
      1,591 SF

      Seattle Office Space Available

      Office space for rent in Seattle, Washington, totaling 1,591 SF.
      1366 31St Ave S, Seattle, WA 98144
      View Details
    • Contact for pricing
      6,004 SF

      Retail Space Available For Rent

      Retail space available for lease in Seattle, Washington.
      5600-5680 24Th Ave NW, Seattle, WA 98144
      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.
    1922 23rd S Ave
    Seattle, WA 98144-4616
    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.
    Sign Up Successful!
    You now have access to more from Realmo!