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Property profile & analytics
OFF-MARKET
Estimated value
$8,400,000
Showrooms
2406 1st S Ave Seattle, WA 98134
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-1648925
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,000 SF
Lot
0.41 ac (18,000 SF)
Zoning code
IG2 U/85
APN
766620-6070
UPID
US90-1648925
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
$8.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.11M
Blend (final)
Blend
$8.40M
Owner & transaction history
Kent 228 LLC · 1 yrs held
Kent 228 LLC
since 2024
Last sale
$8.4M
7 recorded transactions
Zoning & alternative use
IG2 U/85 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.4M
+3.7%
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
$8,400,000
ML approach
$8,400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,110,000
Current use
RESTAURANT
$9,445,000
Change: +4% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,405,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$8.40M
Range $7.56M – $9.24M · ±10% · vs last sale $8.40M (Dec 16 2024)
Last sale anchor
$8.40M
Dec 16 2024
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
$467 / 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
$26,988
Tax year 2022
Assessed value
$2,904,400
Assessed 2022
Previous assessed
$2,904,400
+0.0% YoY
Effective rate
0.93%
On assessed value
Assessed land
$2,160,000
Assessed improvement
$744,400
Land market value
$2,160,000
Improvement market value
$744,400
Total market value
$2,904,400
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
18,000 SF
Lot
0.41 ac (18,000 SF)
Zoning code
IG2 U/85
APN
766620-6070
UPID
US90-1648925
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/85 · Seattle, WA
Zoning IG2 U/85 · permitted uses
IG2 U/85 · 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
COMMERCIAL (GENERAL) Current
Est. value
$9.1M
RESTAURANT
Est. value
$9.4M
AUTO REPAIR, GARAGE
Est. value
$7.4M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Kent 228 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2101 4TH AVE N STE #310, SEATTLE, WA 98121-2368
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2024
$8,400,000
Kent 228 LLC
First Avenue Seattle Partners LLC
Warranty Deed
—
May 7, 2024
—
First Avenue Seattle Partners LLC
—
Deed
related
$2,600,000 · Timothy R Tesh, An Individual Person
Apr 30, 2021
$2,069,575
First Avenue Seattle Partners LLC
Levelment LLC
Bargain And Sale Deed
$2,380,000 · First Symetra National Life Insuran
Apr 30, 2021
$1,887,840
First Avenue Seattle Partners LLC
Predation LLC
Bargain And Sale Deed
—
Oct 7, 2019
—
Predation LLC
2418-20 Associates
Quit Claim Deed
related
—
Nov 7, 2007
—
2418-20 Associates
—
Deed Of Trust
related
$2,300,000 · Pacific Continental Bank
Jun 21, 1996
$980,000
2418-20 Associates
Wenex INC
Grant Deed
$240,000 · Commerce Bank Of Washington
Jun 18, 1991
$600,000
Wenex INC
Dale,r C&louise
Grant Deed
$576,000 · Seller
—
—
2418-20 Associates
—
Deed Of Trust
related
$537,000 · Us Small Business Admn
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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