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Property profile & analytics
OFF-MARKET
Theaters & concert halls
2015 Boren Ave, Seattle, WA 98121-2702
Entity Owned
12-yr Hold
Free & Clear
Property ID
US90-0200735
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1916
Construction
WOOD
Total area
7,940 SF
Lot
0.32 ac (13,950 SF)
Zoning code
DMC 240/290-440
APN
066000-1490
UPID
US90-0200735
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
-
Cornish College of the Arts - Raisbeck Performance Hall College Performing Arts Theater
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Acorn Dev LLC · 12 yrs held
Acorn Dev LLC
since 2014
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,638
Tax year 2022
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1916
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Total area
7,940 SF
Lot
0.32 ac (13,950 SF)
Zoning code
DMC 240/290-440
APN
066000-1490
UPID
US90-0200735
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
1916
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Lot
0.32 ac
Current owner
From public records · entity-resolved
Acorn Dev LLC
Entity
Free & Clear · 12 yrs held
Mailing address
1000 LENORA ST, SEATTLE, WA 98121-2951
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 12, 2018
—
Cornish College Of The Arts
—
Deed
related
—
May 1, 2014
$504,000
Acorn Dev LLC
Cornish College Of The Arts
Grant Deed
—
Dec 1, 2010
—
Cornish College Of The Arts
—
Deed Of Trust
related
$20,323,000 · Key Bank NA
May 3, 2007
$3,500,000
Cornish College Of The Arts
Cornish Dev Partners LLC
Warranty Deed
related
—
Sep 13, 2002
$1,550,000
Cornish Development Partners
Dina Corp
Grant Deed
—
—
—
Cornish Dev Partners LLC
—
Deed Of Trust
related
$1,000,000 · Bank Of America
—
—
Cornish Development Partners
—
Deed Of Trust
related
$2,000,000 · Bank Of America
—
—
Cornish College Of The Arts
—
Loan Modification
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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