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Property profile & analytics
OFF-MARKET
Estimated value
$2,005,000
Office buildings
2333 3rd Ave, Seattle, WA 98121-1711
Entity Owned
9-yr Hold
Free & Clear
Property ID
US90-0765427
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1951
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,360 SF
Lot
0.3 ac (12,954 SF)
Zoning code
DMR/R 145/65
APN
065600-0255
UPID
US90-0765427
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
-
Diamond Parking Service Parking Lot & Garage
-
SkB Architects Architect
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.41M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.01M
Owner & transaction history
Hot Rain LLC · 9 yrs held
Hot Rain LLC
since 2017
4 recorded transactions
Zoning & alternative use
DMR/R 145/65 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.0M
+0.4%
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%
$2,610,000
6.5%
$2,410,000
7%
$2,235,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,955,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,965,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$2,875,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$2,470,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$2.01M
Range $1.80M – $2.21M · ±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
$240 / 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
$60,310
Tax year 2022
Assessed value
$7,125,700
Assessed 2022
Previous assessed
$7,125,700
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$7,124,700
Assessed improvement
$1,000
Land market value
$7,124,700
Improvement market value
$1,000
Total market value
$7,125,700
Applied tax rate
11.0000
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
1951
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
1
Total area
8,360 SF
Lot
0.3 ac (12,954 SF)
Zoning code
DMR/R 145/65
APN
065600-0255
UPID
US90-0765427
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DMR/R 145/65 · Seattle, WA
Zoning DMR/R 145/65 · permitted uses
DMR/R 145/65 · 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
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.5M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
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
1951
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Hot Rain LLC
Entity
Free & Clear · 9 yrs held
Mailing address
115 110TH PL SE, BELLEVUE, WA 98004-6316
Ownership since
2017
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
Feb 9, 2017
$14,300,000
Hot Rain LLC
2333 Third LLC
Grant Deed
—
Feb 9, 2012
$3,650,000
2333 Third LLC
223 Taylor Corp
Warranty Deed
$3,285,000 · Us Bank NA
Jan 25, 1989
$130,000
223 Taylor Corp
Pacific Northwes
Grant Deed
—
Dec 30, 1988
$170,000
223 Taylor Corp
Pacific
Grant Deed
—
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.
Try Rey
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