2476 Westlake N Ave Seattle, WA 98109-2263
Entity Owned
4-yr Hold
~
Est. High Equity
Estimated value (blended)
$3.22M
Range $2.90M – $3.54M (±10%)
Implied cap rate
2.50%
In-place · NOI ÷ last sale
Property ID
US90-0920051
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1953
Construction
WOOD
Total area
4,277 SF
Lot
0.62 ac (26,888 SF)
Zoning code
C2-40
APN
408880-4090
UPID
US90-0920051
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
-
(Bike/Boat/Book/etc) Store
-
Consultant Building Design Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.32M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.60M
Blend (final)
Blend
$3.22M
Owner & transaction history
since 2021
Last sale
$4.0M
5 recorded transactions
Zoning & alternative use
C2-40 · Seattle, WA
Zoning description
The intent of this district is to promote general commercial activities, to provide for an auto-oriented, primarily non-retail commercial area that provides a wide range of commercial activities serving a community, city…
General category
INDUSTRIAL
Top alternative use upside
Commercial (general)
$2.2M
+23.6%
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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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.22M
Value range
$2.90M – $3.54M
±10% around blend
Estimated value / SF
$753 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
60
$2.90M
blend $3.22M
$3.54M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,277 SF
Lot area
0.62 ac
Year built
1953
Stories
2
APN
408880-4090
Assessed value
$3,321,000
Annual tax
$26,982
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.12M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.4 mi away · 4,526 SF
1.6 mi away · 5,448 SF
3.0 mi away · 4,224 SF
6.6 mi away · 4,987 SF
9.4 mi away · 4,100 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.22M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 28 sales
$409
+84%
Submarket 337 sales
$353
+113%
County 676 sales
$377
+100%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $753/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+24%
vs current-use indication
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
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 · 6 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
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Overview
Implied cap rate
2.50%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$280k *
Last sale · Dec 2021
$4.00M
* 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$11.20M
Move the market yield to see immediate price impact.
Value / SF
$2,619
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
2.00%2.50%3.00%
$252k
$12.60M
$10.08M
$8.40M
$280k
$14.00M
$11.20M
$9.33M
$308k
$15.40M
$12.32M
$10.27M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$1.30M
0.6 mi · Sep 2025 · $279/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$26,982
Tax year 2022
Assessed value
$3,321,000
Assessed 2022
Previous assessed
$3,321,000
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$860,400
Assessed improvement
$2,460,600
Land market value
$860,400
Improvement market value
$2,460,600
Total market value
$3,321,000
Applied tax rate
10.0000
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
Off-Market
Year built
1953
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
2
Total area
4,277 SF
Lot
0.62 ac (26,888 SF)
Zoning code
C2-40
APN
408880-4090
UPID
US90-0920051
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C2-40 · Seattle, WAZoning C2-40 · permitted uses
C2-40 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The intent of this district is to promote general commercial activities, to provide for an auto-oriented, primarily non-retail commercial area that provides a wide range of commercial activities serving a community, city…
General category
INDUSTRIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1953
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
2
Lot
0.62 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
C2-40
INDUSTRIAL
Jurisdiction
Seattle, WA
Recorded code
C2-40
Official district
C2-40
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C2-40 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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