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Property profile & analytics
OFF-MARKET
Estimated value
$35,750,000
Hotels
2000 2nd Ave, Seattle, WA 98121-2206
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1313590
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1910
Construction
CONCRETE
Total area
33,534 SF
Lot
0.15 ac (6,480 SF)
Zoning code
DMC 240/290-440
APN
197720-1140
UPID
US90-1313590
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
-
Kimpton Palladian Hotel Hotel & Motel
-
Shaker + Spear Restaurant
-
The PennyRoyal Bar & Party zone (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Shemiran Trade Construction Company General Contractor
-
PennyRoyal Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$35.75M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$35.75M
Owner & transaction history
Tgh Palladian LP · 1 yrs held
Tgh Palladian LP
since 2024
Last sale
$35.8M
7 recorded transactions
Zoning & alternative use
DMC 240/290-440 · 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
Method
Estimation
Statistic approach
$35,750,000
ML approach
$35,750,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$35.75M
Range $32.18M – $39.33M · ±10% · vs last sale $35.75M (Nov 13 2024)
Last sale anchor
$35.75M
Nov 13 2024
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
$1,066 / 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
$33,284
Tax year 2022
Assessed value
$3,947,063
Assessed 2022
Previous assessed
$3,947,063
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$3,947,063
Land market value
$6,804,000
Improvement market value
$24,201,400
Total market value
$31,005,400
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1910
Construction
CONCRETE
Heating
CENTRAL
Cooling
WALL UNIT
Stories
8
Units
69
Total area
33,534 SF
Lot
0.15 ac (6,480 SF)
Zoning code
DMC 240/290-440
APN
197720-1140
UPID
US90-1313590
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DMC 240/290-440 · Seattle, WA
Zoning DMC 240/290-440 · permitted uses
DMC 240/290-440 · 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
1910
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
8
Units
69
Lot
0.15 ac
Current owner
From public records · entity-resolved
Tgh Palladian LP
Entity
Mailing address
601 UN ST STE #3016, SEATTLE, WA 98101-3913
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2024
$35,750,000
Tgh Palladian LP
Palladian Hotel LLC
Warranty Deed
$18,000,000 · Loancore Capital Credit Reit LLC
Nov 5, 2019
—
Palladian Hotel LLC
Ederer Properties II LLC
Quit Claim Deed
related
$28,600,000 · Loancore 2019-cre2 Issuer Ltd
Aug 23, 2018
$5,608,350
Ederer Properties II LLC
Cohanim Palladian Apts LLC
Warranty Deed
—
Aug 23, 2018
—
Palladian Hotel LLC
Cohanim Palladian Apts LLC
Quit Claim Deed
related
—
Aug 23, 2018
$3,929,660
Madden Trust LLC
Cohanim Palladian Apts LLC
Warranty Deed
$28,600,000 · Loancore Cap Credit Reit LLC
Aug 3, 2018
—
Cohanim Palladian Apts LLC
—
Deed
related
—
Jul 31, 2017
—
Cohanim Palladian Apartments L
—
Deed
related
—
Jan 9, 2015
$353,328
Fifth & Columbia Investors LLC
Cohanim Palladian Apartments L
Grant Deed
—
Feb 13, 2014
$59,317
Palladian Apartments L Cohanim
Seattle Art Museum
Grant Deed
—
Nov 24, 2010
—
Cohanim Palladian Apts LLC
Cohanim,bahram & Porta L
Quit Claim Deed
related
—
—
—
Cohanim Palladian Apartments L
—
Loan Modification
related
$28,000,000 · Benaroya Cap
—
—
Madden Trust LLC
—
Loan Modification
related
$28,600,000 · Loancore 2019-cre2 Issuer Ltd
—
—
Cohanim Palladian Apartments L
—
Loan Modification
related
—
—
—
Cohanim Palladian Apts LLC
—
Deed Of Trust
related
—
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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