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Property profile & analytics
OFF-MARKET
Estimated value
$4,665,000
Office buildings
202 1st S Ave Seattle, WA 98104
Entity Owned
Free & Clear
Property ID
US90-0815294
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1909
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
28,216 SF
Lot
0.15 ac (6,660 SF)
Zoning code
PSM-100
APN
524780-0380
UPID
US90-0815294
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.67M
Owner & transaction history
Cl B LLC
Cl B LLC
since 2025
7 recorded transactions
Zoning & alternative use
PSM-100 · 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
$165 / 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
$58,574
Tax year 2022
Assessed value
$7,057,800
Assessed 2022
Previous assessed
$7,057,800
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$2,763,900
Assessed improvement
$4,293,900
Land market value
$2,763,900
Improvement market value
$4,293,900
Total market value
$7,057,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1909
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Total area
28,216 SF
Lot
0.15 ac (6,660 SF)
Zoning code
PSM-100
APN
524780-0380
UPID
US90-0815294
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PSM-100 · Seattle, WA
Zoning PSM-100 · permitted uses
PSM-100 · 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
1909
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
3
Lot
0.15 ac
Current owner
From public records · entity-resolved
Cl B LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1215 4TH AVE STE #600, SEATTLE, WA 98161-1084
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2025
—
Cl B LLC
Grand Central Block LLC
Bargain & Sale Deed
—
Nov 3, 2025
$5,190,000
Grand Central Block LLC
Western Office Gc Property Owner Ll
Bargain & Sale Deed
—
Jan 18, 2019
$10,322,582
Western Office Gc Prop Owner L
Upi Buttnick LLC
Grant Deed
—
Nov 12, 2014
$8,247,950
Upl Buttnick LLC
Buttnick Building LP
Bargain And Sale Deed
$12,775,000 · Wells Fargo Bank NA
Nov 6, 2002
—
Buttnick Building LP
Francis & Buttnick LLC
Quit Claim Deed
related
$3,616,000 · Seattle City (wa)
Nov 26, 1990
—
Francis Gwendolyn
Buttnick,jacob
Quit Claim Deed
related
—
—
—
Francis & Buttnick LLC
—
Deed Of Trust
related
$200,000 · First Mutual 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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