Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2231 Queen Anne N Ave Seattle, WA 98109-2313

    • Turn key restaurants
    • 1,135 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0925329
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Queen Ca Phe / Vietnamese Restaurant

    Property Details for 2231 Queen Anne N Ave

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.17 lot acres
    Property size
    1,135 SF
    Zone code
    NC2P-55 (M)
    Property type
    Turn key restaurants
    APN
    179450-0105
    APU
    1794500105

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.357
    Latitude
    47.6394
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $15,996
    $1,800,000
    $1,000
    $1,801,000
    -
    $1,800,000
    $1,000
    $1,801,000

    Comparable in this City

    • Value Estimation by Request
      3,500 SF

      526 Queen Anne N Ave

      RESTAURANT • 3,500 SF
      526 Queen Anne N Ave, Seattle, WA 98109-4520
      View Details
    • Value Estimation by Request
      3,039 SF

      200 Queen Anne N Ave

      RESTAURANT • 3,039 SF
      200 Queen Anne N Ave, Seattle, WA 98109-4805
      View Details
    • Value Estimation by Request
      6,200 SF

      701 9th N Ave

      RESTAURANT • 6,200 SF
      701 9th N Ave, Seattle, WA 98109-4309
      View Details
    • Value Estimation by Request
      1,313 SF

      372 Roy St

      RESTAURANT • 1,313 SF
      372 Roy St, Seattle, WA 98109-4116
      View Details
    • Value Estimation by Request
      3,924 SF

      352 Roy St

      RESTAURANT • 3,924 SF
      352 Roy St, Seattle, WA 98109-4116
      View Details
    • Value Estimation
      $1,900,000
      3,742 SF

      1825 Queen Anne N Ave

      RESTAURANT • 3,742 SF
      1825 Queen Anne N Ave, Seattle, WA 98109-2849
      View Details

    Similar Nearby for Sale

    • $1,740,000

      Retail Property Near Downtown Seattle

      Retail property with redevelopment potential near I-5 and Highway 99.
      2749-2751 4Th Ave S, Seattle, WA 98109
      View Details
    • $3,800,000

      Belltown Multifamily/Hotel Redevelopment Opportunity

      Value-add investment near Pike Place Market with high-rise redevelopment potential.
      2200-2204 1St Ave, Seattle, WA 98109
      View Details
    • $1,750,000
      4,050 SF

      South Lake Union Development Opportunity

      Mixed-use development opportunity in the heart of South Lake Union.
      1175 Harrison St, Seattle, WA 98109
      View Details
    • $1,890,000
      2,114 SF

      SoDo Retail Building For Sale

      Visible SoDo location with long-standing tenants and free parking.
      3401-3405 4Th Ave S, Seattle, WA 98109
      View Details
    • Contact for pricing

      Seattle Retail Property For Sale

      Retail property available for sale in Seattle, Washington.
      434 Queen Anne Ave N, Seattle, WA 98109
      View Details
    • $2,998,000
      5,600 SF

      Seattle Multifamily Investment Opportunity

      16 furnished units near Seattle Pacific University. Short-term rental potential.
      7 Dravus St, Seattle, WA 98109
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,297 SF

      Restaurant Space in Seattle Tech Hub

      Second-generation restaurant space in a vibrant Seattle tech district.
      325 9Th Ave North, Seattle, WA 98109
      View Details
    • Contact for pricing
      7,460 SF

      Cascade Apartments: Seattle Retail Space

      Seattle retail space, prime South Lake Union location.
      222 Fairview Way, Seattle, WA 98109
      View Details
    • Contact for pricing
      1,876 SF

      Capitol Hill Restaurant/Bar Opportunity

      Stand-alone restaurant/bar near transit station with remodel underway.
      916 E John St, Seattle, WA 98109
      View Details
    • $35 SF/Yr
      4,767 SF

      Queen Anne Ave Retail Space

      Seattle Retail, Multiple Units Available
      400 Queen Anne Ave, Seattle, WA 98109
      View Details
    • $48 SF/Yr
      2,956 SF

      500 Mercer St

      Restaurants
      500 Mercer St, Seattle, WA 98109
      View Details
    • Contact for pricing
      15,058 SF

      Prime Retail Space in Seattle

      3,985 SF retail space in booming Denny Triangle neighborhood.
      1930 Boren Ave, Seattle, WA 98109
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2231 Queen Anne N Ave
    Seattle, WA 98109-2313
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.