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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Office buildings
200 21st Ave, Seattle, WA 98122-5914
Entity Owned
9-yr Hold
Free & Clear
Property ID
US90-0076205
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1926
Construction
WOOD
Total area
2,268 SF
Lot
0.17 ac (7,200 SF)
Zoning code
LR2 (M)
APN
982670-1390
UPID
US90-0076205
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
-
Y. S. Learning Center Training Center Tutoring Service
-
Indochina Chinese Refugee Association Charitable Organization Social Service Agency
-
Swerve Driving School of CAPITOL HILL Training Center Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$655k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$590k
Owner & transaction history
Lam2013 Property LLC · 9 yrs held
Lam2013 Property LLC
since 2016
7 recorded transactions
Zoning & alternative use
LR2 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$935,000
+16.4%
Retail stores
$910,000
+13.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$710,000
6.5%
$655,000
7%
$605,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$800,000
Current use
AUTO REPAIR, GARAGE
$935,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$910,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$780,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$670,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$260 / 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
$12,196
Tax year 2022
Assessed value
$1,333,000
Assessed 2022
Previous assessed
$1,333,000
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$1,332,000
Assessed improvement
$1,000
Land market value
$1,332,000
Improvement market value
$1,000
Total market value
$1,333,000
Applied tax rate
10.0000
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
1926
Construction
WOOD
Heating
GAS
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
2,268 SF
Lot
0.17 ac (7,200 SF)
Zoning code
LR2 (M)
APN
982670-1390
UPID
US90-0076205
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LR2 (M) · Seattle, WA
Zoning LR2 (M) · permitted uses
LR2 (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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$935,000
RETAIL STORES
Est. value
$910,000
MEDICAL BUILDING
Est. value
$780,000
WAREHOUSE, STORAGE
Est. value
$670,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1926
Construction
WOOD
Heating
GAS
Cooling
Yes
Stories
1
Buildings
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
Lam2013 Property LLC
Entity
Free & Clear · 9 yrs held
Mailing address
3712 88TH AVE SE, MERCER ISLAND, WA 98040-3617
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 1, 2017
—
Lam2013 Property LLC
—
Deed
related
—
Nov 15, 2016
$150,000
Lam2013 Property LLC
Indochina Chinese Refugee Assn
Warranty Deed
—
Nov 27, 2013
$670,175
Lam2013 Property LLC
Indochina Chinese Refugee Assn
Warranty Deed
—
Jun 27, 2005
$522,000
Chinese Refugee Assn Indochina
Vadus LLC
Warranty Deed
$300,000 · Cathay Bank
Jul 11, 2001
$192,500
Loy V Martin
21st & Spruce Corp
Grant Deed
$173,250 · 21st & Spruce Corp
Jul 11, 2001
—
Lois A Stowers
Stowers,robert
Quit Claim Deed
related
—
Oct 11, 1988
—
21st And Spruce Corporation
Gustafson,harold
Grant Deed
related
—
—
—
Hao V Lam
—
Deed Of Trust
related
$230,000 · Danny M & Kitty L Do
—
—
Hao V Lam
—
Deed Of Trust
related
$200,000 · Thuong Le Chau
—
—
Chinese Refugee Assn Indochina
—
Deed Of Trust
related
$600,000 · Cathay Bank
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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