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Property profile & analytics
OFF-MARKET
Estimated value
$4,095,000
Medical Office Space
2409 45th St Seattle, WA 98103-6907
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US90-3243573
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1969
Construction
WOOD
Total area
30,056 SF
Lot
0.38 ac (16,629 SF)
Zoning code
NC2P-55 (M)
APN
051000-1750
UPID
US90-3243573
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
-
Dr. Jonathan Franklin, MD Physician
-
Proliance Surgeons Inc Medical Clinic
-
Seattle Orthopedic Center Physician
-
Stewart Kerr, MD Physician
-
Stewart Matthew Kerr, M.D. Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.10M
Owner & transaction history
North Seattle Asc LLC · 21 yrs held
North Seattle Asc LLC
since 2004
4 recorded transactions
Zoning & alternative use
NC2P-55 (M) · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$136 / 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
$54,523
Tax year 2022
Assessed value
$6,327,700
Assessed 2022
Previous assessed
$6,327,700
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$5,321,200
Assessed improvement
$1,006,500
Land market value
$5,321,200
Improvement market value
$1,006,500
Total market value
$6,327,700
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1969
Construction
WOOD
Heating
FORCED AIR
Stories
2
Total area
30,056 SF
Lot
0.38 ac (16,629 SF)
Zoning code
NC2P-55 (M)
APN
051000-1750
UPID
US90-3243573
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2P-55 (M) · Seattle, WA
Zoning NC2P-55 (M) · permitted uses
NC2P-55 (M) · 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.
Building & site characteristics
From public records
Year built
1969
Construction
WOOD
Heating
FORCED AIR
Stories
2
Lot
0.38 ac
Current owner
From public records · entity-resolved
North Seattle Asc LLC
Entity
Mailing address
2409 N 45TH ST, SEATTLE, WA 98103-6907
Ownership since
2004
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
Mar 24, 2022
—
North Seattle Asc LLC
—
Deed
related
$7,600,000 · Us Bank NA
Sep 27, 2004
$2,200,000
North Seattle Asc LLC
Spear Investments LLC
Warranty Deed
$2,600,000 · Bank Of America
Aug 10, 2001
—
Spear Investments LLC
Spear Trust
Quit Claim Deed
related
—
Oct 23, 1990
—
Seattle First National Bank
Spear,sonia L
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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