Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Strip malls
2501 Eastlake E Ave Seattle, WA 98102-3200
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1760461
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Construction
WOOD
Total area
9,923 SF
Lot
0.25 ac (10,776 SF)
Zoning code
NC2P-65 (M1)
APN
195970-0015
UPID
US90-1760461
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
-
Eastlake Yoga Gym & Fitness Center
-
Great Blue Heron LLC Gym & Fitness Center
-
Corrs Plumbing - Seattle Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$405k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$723k
Blend (final)
Blend
$565k
Owner & transaction history
2517 Eastlake LLC · 6 yrs held
2517 Eastlake LLC
since 2019
7 recorded transactions
Zoning & alternative use
NC2P-65 (M1) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 convenience and specialty goods, to the surrounding neighborhoods, and that accommodates other uses that are compatible with the retail cha…
Zone name
Neighborhood Commercial Pedestrian Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
12.94 ac
Source
Realmo
Top alternative use upside
Apartment house (5+ units)
$935,000
+52.9%
Office building
$845,000
+37.9%
Medical building
$770,000
+25.5%
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
by Request
ML approach
$405,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$610,000
Current use
APARTMENT HOUSE (5+ UNITS)
$935,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$845,000
Change: +38% · Conversion: Moderate
MEDICAL BUILDING
$770,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$560,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±10%
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
$57 / 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
$30,481
Tax year 2022
Assessed value
$3,502,200
Assessed 2022
Previous assessed
$3,502,200
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$3,502,200
Land market value
$3,502,200
Total market value
$3,502,200
Applied tax rate
13.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Construction
WOOD
Heating
CENTRAL
Stories
1
Total area
9,923 SF
Lot
0.25 ac (10,776 SF)
Zoning code
NC2P-65 (M1)
APN
195970-0015
UPID
US90-1760461
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
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
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 convenience and specialty goods, to the surrounding neighborhoods, and that accommodates other uses that are compatible with the retail character of the area such as housing or offices. The Pedestrian designation is to preserve or encourage an intensely retail and pedestrian-oriented shopping district where non-auto modes of transportation to and within the district are strongly favored. M1 is the mandatory housing affordability suffix applied to this zone.
Zone name
Neighborhood Commercial Pedestrian Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
12.94 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$610,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$935,000
OFFICE BUILDING
Est. value
$845,000
MEDICAL BUILDING
Est. value
$770,000
COMMERCIAL (GENERAL)
Est. value
$560,000
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1989
Construction
WOOD
Heating
CENTRAL
Stories
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
2517 Eastlake LLC
Entity
Mailing address
600 UNIVERSITY ST, SEATTLE, WA 98101-1176
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2019
$8,100,000
2517 Eastlake LLC
2501 Eastlake Partners LLC
Grant Deed
—
Jul 1, 2015
$4,242,500
Eastlake Partners LLC
Schroth Family LLC
Warranty Deed
$2,800,000 · Foundation Bank
Jan 10, 2014
$3,150,000
Schroth Family LLC
Astro
Special Warranty Deed
$2,362,500 · Foundation Bank
Dec 30, 1992
—
Astro
Lee,dan T&myrna
Quit Claim Deed
related
—
—
—
Schroth Family LLC
—
Loan Modification
related
—
—
—
Astro
—
Deed Of Trust
related
$317,000 · Umpqua Bank
—
—
Astro Corp
—
Deed Of Trust
related
$705,413 · Umpqua Bank
—
—
Astro LP
—
Deed Of Trust
related
$508,805 · Evergreenbank
—
—
Astro
—
Deed Of Trust
related
$510,715 · Evergreen Bank
—
—
Dan T Lee
—
Deed Of Trust
related
$750,000 · Cascade Savings Bank
—
—
Astro LP
—
Deed Of Trust
related
$503,586 · Evergreenbank
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?”
You own 2501 Eastlake E Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
