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Property profile & analytics
OFF-MARKET
Estimated value
$8,155,000
Retail space
2230 32nd W Ave Seattle, WA 98199
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1232535
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,480 SF
Lot
1.23 ac (53,705 SF)
Zoning code
NC2-55 (M)
APN
232503-9007
UPID
US90-1232535
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.16M
Owner & transaction history
Hbc Magnolia LLC · 3 yrs held
Hbc Magnolia LLC
since 2023
Last sale
$8.1M
6 recorded transactions
Zoning & alternative use
NC2-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.7M
+30.9%
Commercial (general)
$9.4M
+26.2%
Auto repair, garage
$7.6M
+2.6%
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
$8,740,000
ML approach
$7,775,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$7,410,000
Current use
RESTAURANT
$9,700,000
Change: +31% · Conversion: Easy
COMMERCIAL (GENERAL)
$9,350,000
Change: +26% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,605,000
Change: +3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,555,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$6,530,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$6,355,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$8.16M
Range $7.34M – $8.97M · ±10% · vs last sale $8.05M (Jul 18 2023)
Last sale anchor
$8.05M
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
$441 / 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
$97,342
Tax year 2022
Assessed value
$10,742,000
Assessed 2022
Previous assessed
$10,742,000
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$10,741,000
Assessed improvement
$1,000
Land market value
$10,741,000
Improvement market value
$1,000
Total market value
$10,742,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Buildings
2
Stories
1
Total area
18,480 SF
Lot
1.23 ac (53,705 SF)
Zoning code
NC2-55 (M)
APN
232503-9007
UPID
US90-1232535
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2-55 (M) · Seattle, WA
Zoning NC2-55 (M) · permitted uses
NC2-55 (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
RETAIL STORES Current
Est. value
$7.4M
RESTAURANT
Est. value
$9.7M
COMMERCIAL (GENERAL)
Est. value
$9.4M
AUTO REPAIR, GARAGE
Est. value
$7.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.6M
OFFICE BUILDING
Est. value
$6.5M
MEDICAL BUILDING
Est. value
$6.4M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
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
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Buildings
2
Lot
1.23 ac
Current owner
From public records · entity-resolved
Hbc Magnolia LLC
Entity
Mailing address
2731 77TH AVE SE STE #202, MERCER ISLAND, WA 98040-2800
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 18, 2023
$8,050,000
Hbc Magnolia LLC
Keybank National Association
Bargain And Sale Deed
$6,000,000 · Symetra Life Insurance Co
Sep 12, 2013
—
Hbc Magnolia LLC
Bartell Drug Co
Quit Claim Deed
related
—
Dec 15, 2010
—
Bartell Drug Co
Hbc Magnolia LLC
Warranty Deed
—
Mar 4, 2008
—
Hbc Magnolia LLC
Bartell Drug
Warranty Deed
—
Nov 23, 2005
—
Hbc Magnolia LLC
Bartell Drug
Warranty Deed
—
—
—
Hbc Magnolia LLC
—
Loan Modification
related
$1,570,975 · Keybank USA
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.
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