New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,265,000
Hotels
2224 8th Ave Seattle, WA 98121-1906
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-0206236
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1960
Construction
CONCRETE
Total area
61,180 SF
Lot
0.3 ac (12,960 SF)
Zoning code
DMC 240/290-440
APN
066000-0435
UPID
US90-0206236
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 Quinta Inn & Suites by Wyndham Seattle Downtown Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.27M
Owner & transaction history
Clise Properties INC · 11 yrs held
Clise Properties INC
since 2015
7 recorded transactions
Zoning & alternative use
DMC 240/290-440 · 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
$37 / 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
$133,993
Tax year 2022
Assessed value
$16,201,000
Assessed 2022
Previous assessed
$16,201,000
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$16,200,000
Assessed improvement
$1,000
Land market value
$16,200,000
Improvement market value
$1,000
Total market value
$16,201,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1960
Construction
CONCRETE
Heating
FORCED AIR
Stories
7
Total area
61,180 SF
Lot
0.3 ac (12,960 SF)
Zoning code
DMC 240/290-440
APN
066000-0435
UPID
US90-0206236
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DMC 240/290-440 · Seattle, WA
Zoning DMC 240/290-440 · permitted uses
DMC 240/290-440 · 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
1960
Construction
CONCRETE
Heating
FORCED AIR
Stories
7
Lot
0.3 ac
Current owner
From public records · entity-resolved
Clise Properties INC
Entity
Mailing address
1700 7TH AVE STE #1800, SEATTLE, WA 98101-1312
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2015
$16,350,000
Clise Properties INC
Malbco Holdings LLC
Grant Deed
—
Dec 18, 2006
$1,215,935
Enso & 2201 Venture LLC
Malbco Holdings LLC
Grant Deed
—
Jul 1, 2005
—
James S Mulloy
West Seattle Inn-vestments LLC
Quit Claim Deed
related
$3,750,000 · Global Cu
Nov 17, 1995
—
West Seattle Innvestments LLC
Hospitality Innvestments LP
Grant Deed
related
—
Oct 13, 1989
—
Hospitality Investments Ltd
West Seattle Pro
Grant Deed
related
—
—
—
Malbco Holdings LLC
—
Deed Of Trust
related
$550,000 · Wells Fargo Bank
—
—
Malbco Holdings LLC
—
Deed Of Trust
related
$4,100,000 · Wheatland Bank
—
—
West Seattle Inn-vestments LLC
—
Deed Of Trust
related
$650,000 · State National Bank Garfield
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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