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Property profile & analytics
FOR SALE
Investment properties
213 1St Ave S Seattle, WA 98104
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0211457
For Sale
1 / 17
$4,900,000
213 1St Ave S, Seattle, WA 98104
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,974 SF
Lot
0.08 ac (3,330 SF)
Zoning code
PSM-100
APN
524780-0110
UPID
US90-0211457
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
-
The Chapel Lounge Bar & Pub Nightclub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.99M
CAP Approach
CAP
$3.45M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.17M
Owner & transaction history
The Hart Pioneer Square LLC · 4 yrs held
The Hart Pioneer Square LLC
since 2022
Last sale
$4.8M
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
$3,870,000
ML approach
$3,990,000
CAP Approach
CAP Return
Estimation
6%
$3,735,000
6.5%
$3,445,000
7%
$3,200,000
Blend value · Realmo final
$4.17M
Range $3.75M – $4.59M · ±10% · vs last sale $4.77M (Apr 1 2022)
Last sale anchor
$4.77M
Apr 1 2022
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
$246 / 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
$29,205
Tax year 2022
Assessed value
$3,517,700
Assessed 2022
Previous assessed
$3,517,700
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$1,381,900
Assessed improvement
$2,135,800
Land market value
$1,381,900
Improvement market value
$2,135,800
Total market value
$3,517,700
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
4
Total area
16,974 SF
Lot
0.08 ac (3,330 SF)
Zoning code
PSM-100
APN
524780-0110
UPID
US90-0211457
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
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
4
Lot
0.08 ac
Current owner
From public records · entity-resolved
The Hart Pioneer Square LLC
Entity
Mailing address
1037 NE 65TH ST, SEATTLE, WA 98115-6655
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2022
$4,765,000
The Hart Pioneer Square LLC
Linda Ray LLC
Warranty Deed
$672,166 · Washington State Employees Cu
Mar 30, 2022
—
Linda Ray LLC
B Raymond Russo IV
Quit Claim Deed
related
—
Mar 23, 2022
—
B Raymond Russo IV
Linda Ray LLC
Quit Claim Deed
related
—
Aug 10, 2018
—
Linda Ray LLC
Linda Ray Associates
Quit Claim Deed
related
$2,600,000 · Readycap Com'l
Jul 31, 1996
$970,000
Linda Ray Associates
Johnson,g R & Joyce B
Grant Deed
$845,000 · Us Bank Of Washington
—
—
Linda Ray Associates
—
Deed Of Trust
related
$1,075,000 · Sterling Savings Bank
—
—
Linda Ray Associates
—
Deed Of Trust
related
$200,000 · Gbc International Bank
—
—
Linda Ray Associates
—
Deed Of Trust
related
$1,200,000 · Gbc International Bank
—
—
Linda Ray Associates
—
Deed Of Trust
related
$1,530,000 · Everbank Fsb
—
—
Linda Ray Associates
—
Deed Of Trust
related
$1,506,000 · Wells Fargo 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.
Try Rey
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