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Property profile & analytics
OFF-MARKET
Estimated value
$5,075,000
Manufacturing properties
2300 154th St Seatac, WA 98188-2038
Individually Owned
1-yr Hold
Free & Clear
Property ID
US90-2657366
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
31,032 SF
Lot
1746.88 ac (76,094,220 SF)
Zoning code
AVO
APN
282304-9016
UPID
US90-2657366
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.08M
Owner & transaction history
Port Of Seattle · 1 yrs held
Port Of Seattle
since 2025
7 recorded transactions
Zoning & alternative use
AVO · Seatac, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this designation is to create a zone for development of the range of facilities that provide for safe and efficient commercial operations and support, together with security, access, the needs and convenience of the traveling public, and handling of air cargo
Zone name
Aviation Operations
General category
COMMERCIAL
Zone area
2,060.02 ac
Source
Realmo
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 Seatac submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seatac 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
$164 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$13
Tax year 2023
Applied tax rate
2,211.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
AC.PACKAGE
Buildings
49
Stories
1
Total area
31,032 SF
Lot
1746.88 ac (76,094,220 SF)
Zoning code
AVO
APN
282304-9016
UPID
US90-2657366
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
AVO · Seatac, WAZoning AVO · permitted uses
AVO · Seatac, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this designation is to create a zone for development of the range of facilities that provide for safe and efficient commercial operations and support, together with security, access, the needs and convenience of the traveling public, and handling of air cargo
Zone name
Aviation Operations
General category
COMMERCIAL
Zone area
2,060.02 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
Yes
Stories
1
Buildings
49
Lot
1746.88 ac
Current owner
From public records · entity-resolved
Port Of Seattle
Individual
Free & Clear · 1 yrs held
Mailing address
PO BOX 68727, SEATTLE, WA 98168-0727
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2025
—
Port Of Seattle
Midway Sewer District
Quitclaim Deed
related
—
Oct 2, 2012
—
Delta Air Lines INC
—
Deed Of Trust
related
$66,025,000 · Industrial Dev Corp/port/seatt
Feb 25, 2010
—
Bolanos Properties LLC
Afco Cargo Sea III LLC
Quit Claim Deed
related
—
Aug 11, 2009
—
State Of Wa Dept/transportation
Port Of Seattle
Quit Claim Deed
related
—
Aug 7, 2009
—
Washington State
Port Of Seattle
Quit Claim Deed
related
—
Mar 17, 2006
—
City Of Seatac
Port Of Seattle
Warranty Deed
—
—
—
Raymond P Bolanos
—
Deed Of Trust
related
$774,000 · First Interstate Bank Washingt
—
—
Northwest Airlines INC
—
Deed Of Trust
related
$64,300,000 · Industrial Development Corp
—
—
Iac Aero Seatac LLC
—
Deed Of Trust
related
$3,500,000 · General Electric Capital Corp
—
—
Sea-tac Air Cargo LP
—
Deed Of Trust
related
$4,760,000 · Us Bank
—
—
Afco Cargo Sea III LLC
—
Deed Of Trust
related
$2,588,756 · Individual
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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