Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$16,095,000
Office buildings
220 2nd S Ave Seattle, WA 98104-2222
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0697561
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
54,805 SF
Lot
0.22 ac (9,600 SF)
Zoning code
PSM 100/100-120
APN
524780-0900
UPID
US90-0697561
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
-
Community Legal Solutions, PLLC Law Firm
-
Format Health (Bike/Boat/Book/etc) Store Corporate Office
-
The Workshop Event Planning Wedding Service
-
Digitegy Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Web Merchants Direct Inc. Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.79M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.10M
Owner & transaction history
Rfa Masin Block LLC · 4 yrs held
Rfa Masin Block LLC
since 2021
Last sale
$17.3M
7 recorded transactions
Zoning & alternative use
PSM 100/100-120 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$22.5M
+16.4%
Retail stores
$22.0M
+13.5%
Apartment house (5+ units)
$19.4M
+0.4%
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
$13,940,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,105,000
6.5%
$15,790,000
7%
$14,660,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$19,365,000
Current use
AUTO REPAIR, GARAGE
$22,545,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$21,975,000
Change: +13% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$19,435,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$18,845,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$16,190,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$16.10M
Range $14.49M – $17.70M · ±10% · vs last sale $17.32M (Aug 2 2021)
Last sale anchor
$17.32M
Aug 2 2021
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
$294 / 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
$149,685
Tax year 2022
Assessed value
$18,211,800
Assessed 2022
Previous assessed
$18,211,800
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$4,128,000
Assessed improvement
$14,083,800
Land market value
$4,128,000
Improvement market value
$14,083,800
Total market value
$18,211,800
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
Off-Market
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
5
Total area
54,805 SF
Lot
0.22 ac (9,600 SF)
Zoning code
PSM 100/100-120
APN
524780-0900
UPID
US90-0697561
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PSM 100/100-120 · Seattle, WA
Zoning PSM 100/100-120 · permitted uses
PSM 100/100-120 · 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
$19.4M
AUTO REPAIR, GARAGE
Est. value
$22.5M
RETAIL STORES
Est. value
$22.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$19.4M
MEDICAL BUILDING
Est. value
$18.8M
WAREHOUSE, STORAGE
Est. value
$16.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
5
Lot
0.22 ac
Current owner
From public records · entity-resolved
Rfa Masin Block LLC
Entity
Mailing address
55 2ND ST STE #1900, SAN FRANCISCO, CA 94105-3497
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2021
$17,321,000
Rfa Masin Block LLC
Are Seattle No 34 LLC
Special Warranty Deed
$21,725,000 · Citizens Bank NA
Dec 17, 2019
—
Jack-qoozb LLC
Uv 316 Alaskan LLC
Grant Deed
—
Jul 24, 2018
$20,496,000
Are-seattle No 34 LLC
240 Second LLC
Grant Deed
—
Dec 22, 2015
—
240 Second LLC
Pacific Coml Dev Owner LLC
Grant Deed
—
Aug 28, 2008
—
Pacific Coml Dev Owner LLC
Pacific Commercial Dev LLC
Quit Claim Deed
—
Mar 6, 2007
$4,250,000
Pacific Commercial Development LLC
E Masin Furniture Co INC
Warranty Deed
$3,000,000 · Us Bank NA
Aug 22, 2005
—
E Masin Furniture Co INC
Masin Realty Co INC
Quit Claim Deed
related
—
—
—
Pacific Coml Dev Subtenant Ll
—
Deed Of Trust
related
$4,000,000 · 240 Second Avenue South LLC
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?”
You own 220 2nd S Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
