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Property profile & analytics
FOR LEASE
Warehouses
2028 21St Ave S Seattle, WA 98144
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US90-1735733
For Lease
Contact for pricing
2028 21St Ave S, Seattle, WA 98144
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
31,000 SF
Lot
0.59 ac (25,600 SF)
Zoning code
C1-75 (M)
APN
149830-2235
UPID
US90-1735733
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
-
Bianco-Rosso Imports Brewery & Distillery Big Box & Wholesale Store
-
CNG Wines Brewery & Distillery Specialty Food Shop
-
Chrysalis Wines Brewery & Distillery Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.26M
Owner & transaction history
Mb Warehouse LLC · 18 yrs held
Mb Warehouse LLC
since 2007
4 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$105 / 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
$39,406
Tax year 2022
Assessed value
$4,257,800
Assessed 2022
Previous assessed
$4,257,800
+0.0% YoY
Effective rate
0.93%
On assessed value
Assessed land
$3,456,000
Assessed improvement
$801,800
Land market value
$3,456,000
Improvement market value
$801,800
Total market value
$4,257,800
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
For Lease
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Total area
31,000 SF
Lot
0.59 ac (25,600 SF)
Zoning code
C1-75 (M)
APN
149830-2235
UPID
US90-1735733
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
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Lot
0.59 ac
Current owner
From public records · entity-resolved
Mb Warehouse LLC
Entity
Mailing address
6541 HOLLY TER S, SEATTLE, WA 98118-3439
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2018
—
Mb Warehouse LLC
—
Deed
related
$2,800,000 · Zb NA
Aug 10, 2007
$3,985,000
Mb Warehouse LLC
Nahid Hemmat
Warranty Deed
$2,200,000 · Indymac Commercial Lending Corp
Apr 25, 2007
—
Hemmat Nahid Living Trust
Hill Street Associates
Quit Claim Deed
related
—
—
—
Hill Street Associates
—
Deed Of Trust
related
$1,600,000 · Key Bank NA
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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