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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Office buildings
2327 Commodore Way Seattle, WA 98199-1271
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-0072448
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1979
Construction
WOOD
Total area
3,332 SF
Lot
0.2 ac (8,534 SF)
Zoning code
IG2 U/65
APN
277060-6575
UPID
US90-0072448
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
-
Refuge Church of Seattle Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$960k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$785k
Owner & transaction history
Salesboat LLC · 6 yrs held
Salesboat LLC
since 2019
7 recorded transactions
Zoning & alternative use
IG2 U/65 · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,040,000
6.5%
$960,000
7%
$890,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,175,000
Current use
MEDICAL BUILDING
$1,145,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$985,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$785k
Range $707k – $864k · ±10%
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
$236 / 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
$10,545
Tax year 2022
Assessed value
$1,171,000
Assessed 2022
Previous assessed
$1,171,000
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$853,400
Assessed improvement
$317,600
Land market value
$853,400
Improvement market value
$317,600
Total market value
$1,171,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1979
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Total area
3,332 SF
Lot
0.2 ac (8,534 SF)
Zoning code
IG2 U/65
APN
277060-6575
UPID
US90-0072448
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WA
Zoning IG2 U/65 · permitted uses
IG2 U/65 · 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
OFFICE BUILDING Current
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$985,000
OFFICE BUILDING Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1979
Construction
WOOD
Heating
HEAT PUMP
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Salesboat LLC
Entity
Mailing address
3500 W COMMODORE WAY, SEATTLE, WA 98199-1119
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
19 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2019
$1,650,000
Salesboat LLC
Commodore Way II LLC
Warranty Deed
$1,320,000 · Jpmorgan Chase Bank NA
Oct 2, 2018
$800,000
Commodore Way II LLC
Clarks Place LLC
Warranty Deed
—
May 11, 2018
—
Sea Of Green Farms LLC
—
Deed
related
$418,000 · Clarke's Place LLC
May 10, 2018
$418,000
Clarkes Place LLC
Sea Of Green Farms LLC
Quit Claim Deed
related
—
Apr 18, 2017
—
Sea Of Green Farms LLC
—
Deed
related
$62,000 · Bethany P Johnson
Oct 28, 2016
—
Sea Of Green Farms LLC
—
Deed
related
$75,000 · Emily T Shafer
May 2, 2016
—
Sea Of Green Farms LLC
—
Deed
related
$66,000 · Robert & Dorothy Hamilton
Oct 13, 2015
—
Sea Of Green Farms LLC
Sea Of Green Farms
Quit Claim Deed
related
$310,000 · Jane Stadlman
May 31, 2013
$700,000
Sea Of Green Farms
Mgt Investments LLC
Warranty Deed
$650,000 · Mgt Investments LLC
Jun 24, 2010
$440,000
Mgt Investments LLC
C & S Ents LLC
Warranty Deed
—
Jun 2, 2005
$720,000
Commodore Way LLC
C&s Enterprises LLC
Warranty Deed
$250,000 · Peoples Bank
Apr 19, 2002
$450,000
C & S Enterprises LLC
Captains Financial Corp
Grant Deed
$365,000 · Banner Bank
Jun 18, 1996
$350,000
Captains Financial Corp
Marco Seattle INC
Grant Deed
related
$250,000 · Seafirst Bank
—
—
C & S Ents LLC
—
Deed Of Trust
related
$25,000 · Banner Bank
—
—
Sea Of Green Farms LLC
—
Deed Of Trust
related
$418,000 · Clarke's Place LLC
—
—
Sea Of Green Farms LLC
—
Deed Of Trust
related
$62,000 · Bethany P Johnson
—
—
Sea Of Green Farms LLC
—
Deed Of Trust
related
$75,000 · Emily T Shafer
—
—
Sea Of Green Farms LLC
—
Deed Of Trust
related
$66,000 · Robert & Dorothy Hamilton
—
—
Sea Of Green Farms LLC
—
Deed Of Trust
related
$46,000 · Robert & Dorothy Hamilton
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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