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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Office buildings
2112 Thorndyke W Ave Seattle, WA 98199-4131
Individually Owned
28-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1359762
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1954
Construction
FRAME
Total area
3,034 SF
Lot
0.15 ac (6,365 SF)
Zoning code
NC1-55 (M)
APN
277160-3511
UPID
US90-1359762
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
$875k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$835k
Owner & transaction history
Barbara Otterson · 28 yrs held
Barbara Otterson
since 1998
2 recorded transactions
Zoning & alternative use
NC1-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+16.4%
Retail stores
$1.2M
+13.5%
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%
$945,000
6.5%
$875,000
7%
$810,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,070,000
Current use
AUTO REPAIR, GARAGE
$1,250,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$1,215,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$1,045,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$895,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$835k
Range $752k – $919k · ±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
$275 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$12,361
Tax year 2024
Assessed value
$1,274,000
Assessed 2023
Previous assessed
$1,274,000
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$1,273,000
Assessed improvement
$1,000
Land market value
$1,273,000
Improvement market value
$1,000
Total market value
$1,274,000
Applied tax rate
10.0000
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
1954
Construction
FRAME
Heating
ELECTRIC
Cooling
CENTRAL
Stories
2
Total area
3,034 SF
Lot
0.15 ac (6,365 SF)
Zoning code
NC1-55 (M)
APN
277160-3511
UPID
US90-1359762
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC1-55 (M) · Seattle, WA
Zoning NC1-55 (M) · permitted uses
NC1-55 (M) · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$895,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1954
Construction
FRAME
Heating
ELECTRIC
Cooling
Yes
Stories
2
Lot
0.15 ac
Current owner
From public records · entity-resolved
Barbara Otterson
Individual
Free & Clear · 28 yrs held
Mailing address
1388 ALKI AVE SW APT #604, SEATTLE, WA 98116-1897
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 1998
—
Barbara Otterson
Pitton,michael C
Quit Claim Deed
related
—
—
—
Michael C Pitton
—
Deed Of Trust
related
$165,000 · Southern Pacific Thrift & Loan
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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