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Property profile & analytics
OFF-MARKET
Office buildings
1932 1st Ave Seattle, WA 98101-2498
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-3352990
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1923
Construction
CONCRETE
Total area
102,846 SF
Lot
0.23 ac (9,990 SF)
Zoning code
DMC-145
APN
197720-0920
UPID
US90-3352990
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
-
Apptentive (Bike/Boat/Book/etc) Store Corporate Office
-
Diane Zerbe Physician Medical Clinic
-
Forslund Timothy MD Physician
-
BKWLD Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Made by Holiday Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Net Seattle LLC · 5 yrs held
Net Seattle LLC
since 2020
Last sale
$380,811
6 recorded transactions
Zoning & alternative use
DMC-145 · 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
—
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
$191,182
Tax year 2022
Assessed value
$23,313,900
Assessed 2022
Previous assessed
$23,313,900
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$5,494,500
Assessed improvement
$17,819,400
Land market value
$5,494,500
Improvement market value
$17,819,400
Total market value
$23,313,900
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
1923
Construction
CONCRETE
Heating
STEAM
Stories
11
Total area
102,846 SF
Lot
0.23 ac (9,990 SF)
Zoning code
DMC-145
APN
197720-0920
UPID
US90-3352990
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DMC-145 · Seattle, WA
Zoning DMC-145 · permitted uses
DMC-145 · 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
1923
Construction
CONCRETE
Heating
STEAM
Stories
11
Lot
0.23 ac
Current owner
From public records · entity-resolved
Net Seattle LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1932 1ST AVE STE #1000, SEATTLE, WA 98101-1063
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 25, 2025
—
Tsb LLC
—
Deed
related
$14,000,000 · Cmfg Life Insurance Co
Sep 11, 2020
$380,811
Net Seattle LLC
Tsb LLC
Grant Deed
—
Dec 10, 2008
$16,330,000
Tsb LLC
1932 & 1931 1st Ave LLC
Warranty Deed
$13,000,000 · Bank Of America
Apr 25, 2007
—
1932 & 1931 1st Ave LLC
Foreman D Share Subtrust
Quit Claim Deed
related
—
Jul 13, 1989
—
Diamond,violett Trust
Diamond,josef $e
Quit Claim Deed
related
—
—
—
Tsb LLC
—
Deed Of Trust
related
$14,000,000 · Miscellaneous Ins Co
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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