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Property profile & analytics
OFF-MARKET
Estimated value
$4,320,000
Warehouses
2001 22nd S Ave Seattle, WA 98144-4552
Entity Owned
18-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1441065
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
29,379 SF
Lot
1.18 ac (51,200 SF)
Zoning code
C1-75 (M)
APN
149830-2245
UPID
US90-1441065
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
-
Revisioneers Inc General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.97M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.32M
Owner & transaction history
22nd Avenue South LLC · 18 yrs held
22nd Avenue South LLC
since 2007
6 recorded transactions
Zoning & alternative use
C1-75 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to promote general commercial activities, to provide for an auto-oriented, primarily retail or service commercial area that serves surrounding neighborhoods and the larger community, citywide, or regional clientele. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
336.11 ac
Source
Realmo
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%
$5,380,000
6.5%
$4,970,000
7%
$4,615,000
Blend value · Realmo final
$4.32M
Range $3.89M – $4.75M · ±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
$147 / 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
$65,783
Tax year 2022
Assessed value
$6,913,000
Assessed 2022
Previous assessed
$6,913,000
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$6,912,000
Assessed improvement
$1,000
Land market value
$6,912,000
Improvement market value
$1,000
Total market value
$6,913,000
Applied tax rate
13.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
29,379 SF
Lot
1.18 ac (51,200 SF)
Zoning code
C1-75 (M)
APN
149830-2245
UPID
US90-1441065
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C1-75 (M) · Seattle, WAZoning C1-75 (M) · permitted uses
C1-75 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to promote general commercial activities, to provide for an auto-oriented, primarily retail or service commercial area that serves surrounding neighborhoods and the larger community, citywide, or regional clientele. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
336.11 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
1.18 ac
Current owner
From public records · entity-resolved
22nd Avenue South LLC
Entity
Mailing address
2203 23RD AVE S, SEATTLE, WA 98144-4636
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
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
May 29, 2020
—
Desc Plum Lllp
—
Deed Of Trust
related
$5,559,228 · Miscellaneous Govt Agcy
Feb 27, 2017
—
22nd Avenue South LLC
—
Deed
related
$3,500,000 · Umpqua Bk
Aug 24, 2007
$3,850,000
22nd Avenue South LLC
Willows Properties
Warranty Deed
$2,600,000 · Rainier Pacific Bank
Apr 20, 1999
—
Willows Properties
Knapp,james W & Judith M
Quit Claim Deed
related
$520,000 · Seafirst Bank
—
—
22nd Avenue South LLC
—
Deed Of Trust
related
$650,000 · Umpqua Bank
—
—
22nd Avenue South LLC
—
Loan Modification
related
$3,500,000 · Umpqua Bk
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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