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Property profile & analytics
FOR SALE
Turn key restaurants
2218 1St Ave, Seattle, WA 98121
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US90-0592239
For Sale
1 / 18
$4,950,000
2218 1St Ave, Seattle, WA 98121
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,515 SF
Lot
0.15 ac (6,600 SF)
Zoning code
DMR/C 95/65
APN
197720-0646
UPID
US90-0592239
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
-
First & Bell Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$590k
Owner & transaction history
Enterprise 2218 LLC · 10 yrs held
Enterprise 2218 LLC
since 2015
4 recorded transactions
Zoning & alternative use
DMR/C 95/65 · 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
$69 / 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
$25,918
Tax year 2022
Assessed value
$3,037,000
Assessed 2022
Previous assessed
$3,037,000
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$3,036,000
Assessed improvement
$1,000
Land market value
$3,036,000
Improvement market value
$1,000
Total market value
$3,037,000
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
8,515 SF
Lot
0.15 ac (6,600 SF)
Zoning code
DMR/C 95/65
APN
197720-0646
UPID
US90-0592239
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DMR/C 95/65 · Seattle, WA
Zoning DMR/C 95/65 · permitted uses
DMR/C 95/65 · 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
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Enterprise 2218 LLC
Entity
Mailing address
PO BOX 9497, SEATTLE, WA 98109-0497
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2021
—
Enterprise 2218 LLC
—
Deed
related
$516,000 · Telco Community Cu
Jul 9, 2015
$1,750,000
Enterprise 2218 LLC
Cohanim 2218 First Avenue LLC
Warranty Deed
$1,450,000 · Bank Of Wa
Nov 24, 2010
—
Cohanim 2218 First Avenue LLC
Cohanim,bahram & Porta L
Quit Claim Deed
related
—
May 25, 1989
$270,000
Bahram Cohanim
Finseth,richard&
Grant Deed
$118,800 · Seller
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?”
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