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Property profile & analytics
OFF-MARKET
Estimated value
$5,265,000
Office buildings
19639 28th Ave Sa Seatac, WA 98188-5128
Individually Owned
31-yr Hold
~
Est. High Equity
Property ID
US90-1280765
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
24,532 SF
Lot
15.66 ac (682,087 SF)
Zoning code
AVO
APN
042204-9225
UPID
US90-1280765
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.27M
Owner & transaction history
Port Of Seattle · 31 yrs held
Port Of Seattle
since 1995
2 recorded transactions
Zoning & alternative use
AVO · Seatac, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this designation is to create a zone for development of the range of facilities that provide for safe and efficient commercial operations and support, together with security, access, the needs and convenience of the traveling public, and handling of air cargo
Zone name
Aviation Operations
General category
COMMERCIAL
Zone area
2,060.02 ac
Source
Realmo
Top alternative use upside
Apartment house (5+ units)
$8.7M
+0.4%
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 Seatac submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seatac 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
by Request
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
$8,670,000
Current use
APARTMENT HOUSE (5+ UNITS)
$8,700,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$8,435,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$7,245,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$5.27M
Range $4.74M – $5.79M · ±10%
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
$215 / 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
$13
Tax year 2022
Applied tax rate
2,231.0000
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
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Buildings
4
Stories
1
Total area
24,532 SF
Lot
15.66 ac (682,087 SF)
Zoning code
AVO
APN
042204-9225
UPID
US90-1280765
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
AVO · Seatac, WAZoning AVO · permitted uses
AVO · Seatac, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this designation is to create a zone for development of the range of facilities that provide for safe and efficient commercial operations and support, together with security, access, the needs and convenience of the traveling public, and handling of air cargo
Zone name
Aviation Operations
General category
COMMERCIAL
Zone area
2,060.02 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.7M
MEDICAL BUILDING
Est. value
$8.4M
WAREHOUSE, STORAGE
Est. value
$7.2M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
1
Buildings
4
Lot
15.66 ac
Current owner
From public records · entity-resolved
Port Of Seattle
Individual
Mailing address
PO BOX 68727, SEATTLE, WA 98168-0727
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1995
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 1995
$10,901,220
Port Of Seattle
Seattle Christian School Assn
Grant Deed
related
$30,000 · Individual
—
—
Robert E Marcille
—
Deed Of Trust
related
$64,778 · Washington Mutual Fsb
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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