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Property profile & analytics
FOR SALE
Office buildings
2201 15Th Ave W, Seattle, WA 98119
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1276733
For Sale
1 / 2
$5,400,000
2201 15Th Ave W, Seattle, WA 98119
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Construction
WOOD
Total area
24,168 SF
Lot
0.28 ac (12,103 SF)
Zoning code
C1-55 (M)
APN
277160-0925
UPID
US90-1276733
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
-
Miyar Adventures Travel Agency
-
Ascent Outdoors (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.61M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.24M
Blend (final)
Blend
$4.84M
Owner & transaction history
Op Nain LLC · 2 yrs held
Op Nain LLC
since 2023
Last sale
$4.9M
7 recorded transactions
Zoning & alternative use
C1-55 (M) · 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
$4,550,000
ML approach
$4,605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,140,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$4.84M
Range $4.36M – $5.32M · ±10% · vs last sale $4.90M (Jul 18 2023)
Last sale anchor
$4.90M
Jul 18 2023
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
$200 / 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
$47,506
Tax year 2022
Assessed value
$5,568,400
Assessed 2022
Previous assessed
$5,568,400
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,815,400
Assessed improvement
$3,753,000
Land market value
$1,815,400
Improvement market value
$3,753,000
Total market value
$5,568,400
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
For Sale
Year built
1998
Construction
WOOD
Heating
CENTRAL
Stories
2
Total area
24,168 SF
Lot
0.28 ac (12,103 SF)
Zoning code
C1-55 (M)
APN
277160-0925
UPID
US90-1276733
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C1-55 (M) · Seattle, WA
Zoning C1-55 (M) · permitted uses
C1-55 (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
WAREHOUSE, STORAGE
Est. value
$7.1M
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
1998
Construction
WOOD
Heating
CENTRAL
Stories
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Op Nain LLC
Entity
Mailing address
1120 NW BALLARD WAY, SEATTLE, WA 98107-4638
Ownership since
2023
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
Jul 18, 2023
$4,900,000
Op Nain LLC
5rs LLC
Warranty Deed
$4,000,000 · Jpmorgan Chase Bank NA
May 25, 2023
—
5rs LLC
Gm Nameplate INC
Quit Claim Deed
related
—
Apr 10, 2017
$4,700,000
Gm Nameplate INC
Coyote Properties LLC
Special Warranty Deed
$3,525,000 · Jpmorgan Chase Bank NA
Mar 31, 2017
—
Coyote Properties LLC
—
Trustees Deed
related
$1,121,215 · William N & Joyce Hedin
Jul 13, 2016
—
Coyote Properties LLC
—
Deed
related
$1,350,000 · Jp Morgan Chase Bk
Jun 26, 2006
$2,465,000
Coyote Properties LLC
Gm Nameplate INC
Warranty Deed
$1,350,000 · Washington Mutual Bank
Oct 29, 1998
—
Gm Nameplate INC
—
Deed Of Trust
related
$8,000,000 · Us Bank
—
—
Coyote Properties LLC
—
Loan Modification
related
$1,350,000 · Jp Morgan Chase Bk
—
—
Coyote Properties LLC
—
Loan Modification
related
$650,000 · Jp Morgan Chase Bk
—
—
Gm Nameplate INC
—
Deed Of Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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