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Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Retail space
2311 24th E Ave Seattle, WA 98112
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1565065
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1925
Construction
WOOD
Total area
5,800 SF
Lot
0.1 ac (4,500 SF)
Zoning code
NC1-40 (M)
APN
678820-1460
UPID
US90-1565065
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
$1.03M
CAP Approach
CAP
$1.33M
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.16M
Owner & transaction history
2311 24th Ave LLC · 4 yrs held
2311 24th Ave LLC
since 2022
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
NC1-40 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities, to support or encourage a small shopping area that provides primarily convenience retail sales and services to the adjoining residential neighborhood. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Neighborhood Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
133.15 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 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
$970,000
ML approach
$1,030,000
CAP Approach
CAP Return
Estimation
6%
$1,440,000
6.5%
$1,330,000
7%
$1,235,000
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±10% · vs last sale $1.26M (Jan 24 2022)
Last sale anchor
$1.26M
Jan 24 2022
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
$199 / 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
$9,323
Tax year 2022
Assessed value
$1,058,500
Assessed 2022
Previous assessed
$1,058,500
+0.0% YoY
Effective rate
0.88%
On assessed value
Assessed land
$1,057,500
Assessed improvement
$1,000
Land market value
$1,057,500
Improvement market value
$1,000
Total market value
$1,058,500
Applied tax rate
13.0000
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
1925
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
5,800 SF
Lot
0.1 ac (4,500 SF)
Zoning code
NC1-40 (M)
APN
678820-1460
UPID
US90-1565065
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC1-40 (M) · Seattle, WAZoning NC1-40 (M) · permitted uses
NC1-40 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities, to support or encourage a small shopping area that provides primarily convenience retail sales and services to the adjoining residential neighborhood. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Neighborhood Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
133.15 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1925
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
2311 24th Ave LLC
Entity
Mailing address
1807 17TH AVE S, SEATTLE, WA 98144-4307
Ownership since
2022
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
Oct 30, 2024
—
2311 24th Ave LLC
—
Deed
related
$1,413,000 · Telco Community Cu
Jan 24, 2022
$1,255,000
2311 24th Ave LLC
Arnold V Capeloto
Bargain And Sale Deed
$1,004,000 · Arnold V Capeloto Etal
Sep 19, 2002
—
Montlake Investment Co LLC
Capeloto,arnold
Quit Claim Deed
related
—
Jan 6, 1989
—
Arnold Capeloto
Capeloto,arnold,
Quit Claim Deed
related
—
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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