Entity Owned 
For Lease
Contact for pricing
2001 Western Ave, Seattle, WA 98121
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Construction
CONCRETE
Total area
170,575 SF
Lot
1.41 ac (61,212 SF)
Zoning code
PMM-85
APN
197720-0280
UPID
US90-0066878
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Loan Service
-
(Bike/Boat/Book/etc) Store Corporate Office
-
Restaurant
-
City Government Office
-
Warehouse & Storage
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$49.14M
Comparable Approach
Comparable
$53.32M
Blend (final)
Blend
$55.64M
Owner & transaction history
since 2025
Last sale
$60.1M
7 recorded transactions
Zoning & alternative use
PMM-85 · Seattle, WA
Zoning description
This district promotes mixed uses, applies to the area encompassed by the adopted Pike Place Project Urban Renewal Plan inclusive of the Pike Place Historic District.
General category
MIXED_USE
Top alternative use upside
Restaurant
$89.5M
+48.5%
Commercial (general)
$86.3M
+43.2%
Auto repair, garage
$70.2M
+16.4%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
8 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$55.64M
Value range
$50.08M – $61.20M
±10% around blend
Estimated value / SF
$326 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$50.08M
blend $55.64M
$61.20M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
170,575 SF
Lot area
1.41 ac
Year built
1981
Stories
7
APN
197720-0280
Zoning
PMM-85
Assessed value
$71,265,000
Annual tax
$590,135
3
Income approach: direct capitalization
Partial preview
Income approach indication
$49.14M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$53.24M
@ 6.5% CAP return
$49.14M
@ 7% CAP return
$45.63M
4
Sales comparison
Partial preview
Sales approach indication
$53.32M
Range $35.05M – $98.70M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$55.64M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 337 sales
$353
-8%
County 676 sales
$377
-13%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $326/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+49%
vs current-use indication
Commercial (general)
Auto Repair, Garage
Retail Stores
Apartment House (5+ Units)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$60.05M
Move the market yield to see immediate price impact.
Value / SF
$352
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$3.78M
$75.66M
$54.04M
$42.04M
$4.20M
$84.07M
$60.05M
$46.71M
$4.62M
$92.48M
$66.05M
$51.38M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$590,135
Tax year 2022
Assessed value
$71,265,000
Assessed 2022
Previous assessed
$71,265,000
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$26,015,100
Assessed improvement
$45,249,900
Land market value
$26,015,100
Improvement market value
$45,249,900
Total market value
$71,265,000
Applied tax rate
11.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1981
Construction
CONCRETE
Heating
CENTRAL
Buildings
3
Stories
7
Total area
170,575 SF
Lot
1.41 ac (61,212 SF)
Zoning code
PMM-85
APN
197720-0280
UPID
US90-0066878
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PMM-85 · Seattle, WAZoning PMM-85 · permitted uses
PMM-85 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
This district promotes mixed uses, applies to the area encompassed by the adopted Pike Place Project Urban Renewal Plan inclusive of the Pike Place Historic District.
General category
MIXED_USE
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
CONCRETE
Heating
CENTRAL
Stories
7
Buildings
3
Lot
1.41 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
PMM-85
MIXED_USE
Jurisdiction
Seattle, WA
Recorded code
PMM-85
Official district
PMM-85
Official district profile
What the municipal code says about PMM-85
Zoning description
This district promotes mixed uses, applies to the area encompassed by the adopted Pike Place Project Urban Renewal Plan inclusive of the Pike Place Historic District.
General category
MIXED_USE
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for PMM-85 in Seattle, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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