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Property profile & analytics
OFF-MARKET
Estimated value
$3,700,000
Office Spaces
206 1st S Ave, Seattle, WA 98104-2581
Entity Owned
Free & Clear
Property ID
US90-0360359
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1903
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,415 SF
Lot
0.08 ac (3,330 SF)
Zoning code
PSM-100
APN
524780-0385
UPID
US90-0360359
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
-
MTS Industrial Manufacturer Production Facility
-
Purple Cafe Administrative Office Corporate Office Business Park
-
Asia Pacific Environmental Charitable Organization Social Service Agency
-
Uproar Marketing & Advertising Advertising Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.15M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.70M
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,490,000
6.5%
$4,145,000
7%
$3,850,000
Blend value · Realmo final
$3.70M
Range $3.33M – $4.07M · ±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
$181 / 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
$40,374
Tax year 2022
Assessed value
$4,893,400
Assessed 2022
Previous assessed
$4,893,400
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$1,381,900
Assessed improvement
$3,511,500
Land market value
$1,381,900
Improvement market value
$3,511,500
Total market value
$4,893,400
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1903
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
5
Total area
20,415 SF
Lot
0.08 ac (3,330 SF)
Zoning code
PSM-100
APN
524780-0385
UPID
US90-0360359
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
1903
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
5
Lot
0.08 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
9 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
$7,475,840
Western Office Gc Prop Owner L
Upi City Loan LLC
Grant Deed
—
Nov 12, 2014
$1,849,550
Upi City Loan LLC
City Loan Building LP
Bargain And Sale Deed
$12,775,000 · Wells Fargo Bank NA
Nov 12, 2014
—
City Loan Building LP
Triad City Loan LLC
Quit Claim Deed
—
Nov 6, 2002
$1,499,000
Triad City Loan LLC
City Loan Associates LP
Grant Deed
related
$2,808,000 · Seattle City (wa)
Jun 5, 2002
$63,000
Gary L Carner
Eldridge,viola M
Grant Deed
—
Jan 14, 2002
—
Viola M Eldridge
Eldridge,theodore W & Julie
Quit Claim Deed
related
$63,000 · First Horizon Home Loan Corp
Aug 30, 1991
—
Andrews,sidney S
Merkel,john C
Grant Deed
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.
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