New search
Property profile & analytics
FOR SALE
Hotels
2451 Aurora Ave N, Seattle, WA 98109
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-0614556
No photos on file
For Sale
$699,000
2451 Aurora Ave N, Seattle, WA 98109
View Listing →
Property summary
AI-generated overview
This exceptional Seattle commercial land opportunity presents a prime redevelopment site spanning approximately 19,723 square feet. Located on Aurora Avenue North at 2451-2473, this property consists of two parcels (APN 352890-1186 & 352890-1185) zoned C1 – 55 (M), offering a 3.75 FAR. Existing building slabs remain from previous structures, potentially allowing for grandfathered redevelopment options. The site's zoning permits a wide variety of uses, making it highly versatile for future development. This location benefits from proximity to the RapidRide bus line providing convenient access to Downtown Seattle. There's also potential for expansion by assembling this property with the adjacent parcel (APN 352890-1187), adding approximately 5,763 square feet. The asking price for this significant redevelopment opportunity is $1,065,000.
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,182 SF
Lot
0.31 ac (13,563 SF)
Zoning code
C1-55 (M)
APN
352890-1186
UPID
US90-0614556
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
-
Welcome Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.15M
Owner & transaction history
Inland Capital Fund LLC · 4 yrs held
Inland Capital Fund LLC
since 2021
Last sale
$1.2M
5 recorded transactions
Zoning & alternative use
C1-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+52.7%
Auto repair, garage
$1.3M
+24.2%
Office building
$1.3M
+23.5%
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
$1,145,000
ML approach
$1,185,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,055,000
Current use
COMMERCIAL (GENERAL)
$1,610,000
Change: +53% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,310,000
Change: +24% · Conversion: Difficult
OFFICE BUILDING
$1,300,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$1,275,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$1,095,000
Change: +4% · Conversion: Difficult
WAREHOUSE, STORAGE
$940,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.15M
Range $1.03M – $1.26M · ±10% · vs last sale $1.15M (Jul 7 2021)
Last sale anchor
$1.15M
Jul 7 2021
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
$360 / 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
$9,007
Tax year 2022
Assessed value
$1,052,100
Assessed 2022
Previous assessed
$1,052,100
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$1,051,100
Assessed improvement
$1,000
Land market value
$1,051,100
Improvement market value
$1,000
Total market value
$1,052,100
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
Hotels
Use group
HOTEL/MOTEL
Status
For Sale
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
ELECTRIC
Cooling
CENTRAL
Stories
1
Total area
3,182 SF
Lot
0.31 ac (13,563 SF)
Zoning code
C1-55 (M)
APN
352890-1186
UPID
US90-0614556
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C1-55 (M) · Seattle, WA
Zoning C1-55 (M) · permitted uses
C1-55 (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.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$940,000
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
ELECTRIC
Cooling
Yes
Stories
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Inland Capital Fund LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2607 SSE BLVD STE A100, SPOKANE, WA 99223-7630
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2021
—
Tan Phu Cuong Investment LLC
—
Deed
related
$800,000 · Bank Of Richmondville
Jul 7, 2021
$122,572
Inland Capital Fund LLC
Tan Phu Cuong Investment LLC
Trustees Deed
related
—
Aug 21, 2020
—
Tan Phu Cuong Investment LLC
—
Deed
related
$800,000 · Bank Of Richmondville
Mar 11, 2020
$1,150,000
Tan Phu Cuong Investment LLC
Shin-shin Chen
Warranty Deed
$762,200 · Inland Capital Fund LLC Inland Capital Fund LLC
Nov 2, 2015
—
Shin-shin Chen
Chen Sou-chia
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
