2371 Eastlake Ave E Seattle, WA 98102
Office buildings
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Entity Owned
10-yr Hold
~
Est. High Equity
For Lease
1 / 2
Contact for pricing
2371 Eastlake Ave E, Seattle, WA 98102
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Estimated value (blended)
$1.21M
Range $1.09M – $1.33M (±10%)
Property ID
US90-1299102
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,660 SF
Lot
0.14 ac (6,150 SF)
Zoning code
NC2P-65 (M1)
APN
290220-1045
UPID
US90-1299102
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Corporate Office
-
Shopping Center & Mall
-
Loan Service Bank
-
Loan Service
-
Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.21M
Owner & transaction history
since 2016
7 recorded transactions
Zoning & alternative use
NC2P-65 (M1) · Seattle, WA
Zoning description
The intent of this district is to promote neighborhood commercial activities, to support or encourage a pedestrian-oriented shopping area that provides a full range of household and personal goods and services, including…
General category
COMMERCIAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 10 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.21M
Value range
$1.09M – $1.33M
±10% around blend
Estimated value / SF
$158 / SF
Confidence
High
10 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
100
Income certainty
100
$1.09M
blend $1.21M
$1.33M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
7,660 SF
Lot area
0.14 ac
Year built
1965
Stories
2
APN
290220-1045
Assessed value
$1,999,700
Annual tax
$17,412
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$17,412
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$3.50M
Weighted, 10 comps · high confidence
Evidence
10 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.5 mi away · 5,448 SF
3.2 mi away · 8,580 SF
9.7 mi away · 8,027 SF
12.4 mi away · 9,916 SF
15.3 mi away · 9,915 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.21M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 337 sales
$353
-55%
County 676 sales
$377
-58%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $158/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 10 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
90,806.90%
Selected cap rate for this office buildings
Derived from the Seattle market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$26k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$28
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
90,806.40%90,806.90%90,807.40%
$24k
$26
$26
$26
$26k
$29
$28
$28
$29k
$31
$31
$31
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
10 found
High confidence · county-verified
Closest comparable
$3.00M
1.0 mi · Oct 2025 · $332/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$17,412
Tax year 2022
Assessed value
$1,999,700
Assessed 2022
Previous assessed
$1,999,700
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$1,998,700
Assessed improvement
$1,000
Land market value
$1,998,700
Improvement market value
$1,000
Total market value
$1,999,700
Applied tax rate
13.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Total area
7,660 SF
Lot
0.14 ac (6,150 SF)
Zoning code
NC2P-65 (M1)
APN
290220-1045
UPID
US90-1299102
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2P-65 (M1) · Seattle, WAZoning NC2P-65 (M1) · permitted uses
NC2P-65 (M1) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The intent of this district is to promote neighborhood commercial activities, to support or encourage a pedestrian-oriented shopping area that provides a full range of household and personal goods and services, including…
General category
COMMERCIAL
Building & site characteristics
From public records
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Lot
0.14 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
NC2P-65(M1)
COMMERCIAL
Jurisdiction
Seattle, WA
Recorded code
NC2P-65 (M1)
Official district
NC2P-65(M1)
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for NC2P-65(M1) in Seattle, WA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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