Back to Search
Property profile & analytics
FOR LEASE
Office buildings
219 1St Ave S Seattle, WA 98104
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0214299
For Lease
1 / 7
$28 SF/Yr
219 1St Ave S, Seattle, WA 98104
View Listing →
Property summary
AI-generated overview
This exceptional commercial property, located at 219 1st Ave S in Seattle, WA 98104, offers a unique blend of executive, commercial, and creative office spaces, along with restaurant potential. The building, a four-story Class B structure built in 1900 and renovated in 1987, boasts a total of 33,300 square feet situated on a 0.15-acre lot. Currently, 7,325 square feet of space is available for lease, with flexible suite sizes ranging from a minimum of 678 square feet to a maximum contiguous space of 2,500 square feet. The building is conveniently located near Main St. and is zoned PSM-100. Amenities include one elevator for easy access to all four floors. This versatile property is ideal for businesses seeking a blend of historical charm and modern functionality in a vibrant Seattle neighborhood. The multiple tenancy option provides flexibility for various business needs. King County location offers easy access to major transportation routes and a thriving business community. This is a rare opportunity to secure office space in a highly desirable area of Seattle.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
33,300 SF
Lot
0.15 ac (6,660 SF)
Zoning code
PSM-100
APN
524780-0105
UPID
US90-0214299
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
-
La Sala-Kimmel Shawn Alternative Medicine Practice Spa & Massage Center
-
Little Rhino Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Orbit Audio Recording Studio
-
Seattle Recording Arts Music College Educational Institution
-
Northwest Podcast Recording Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.35M
Owner & transaction history
New England Building LLC · 9 yrs held
New England Building LLC
since 2017
2 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
$131 / 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
$46,412
Tax year 2024
Assessed value
$4,457,400
Assessed 2023
Previous assessed
$4,457,400
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$2,763,900
Assessed improvement
$1,693,500
Land market value
$2,763,900
Improvement market value
$1,693,500
Total market value
$4,457,400
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 buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Stories
4
Total area
33,300 SF
Lot
0.15 ac (6,660 SF)
Zoning code
PSM-100
APN
524780-0105
UPID
US90-0214299
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
STEAM
Stories
4
Lot
0.15 ac
Current owner
From public records · entity-resolved
New England Building LLC
Entity
Mailing address
85 S WASHINGTON ST STE #211, SEATTLE, WA 98104-3403
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
Mar 8, 2017
—
New England Building LLC
—
Deed
related
$500,000 · Us Bank NA
—
—
New England Building LLC
—
Deed Of Trust
related
$650,000 · 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
