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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2501 Plum St Seattle, WA 98144-4711

    • Warehouses
    • 112,162 SF
    • 3.06 lot acres
    OFF-MARKET
    Value Estimations
    $16,820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0794540
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Lighthouse for the Blind, Inc. / Manufacturer / Employment Agency
    • Anna Shagas / Optometrist

    Property Details for 2501 Plum St

    Year built
    1966
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.06 lot acres
    Property size
    112,162 SF
    Zone code
    C1-55 (M)
    Property type
    Warehouses
    APN
    149830-3240
    APU
    1498303240

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $20,545,000
      6.5%
      $18,965,000
      7%
      $17,610,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.299
    Latitude
    47.585
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $26,710
    $14,666,600
    $13,005,400
    $27,672,000
    -
    $14,666,600
    $13,005,400
    $27,672,000

    Comparable in this City

    • Value Estimation
      $3,305,000
      25,480 SF

      2001 21st S Ave

      WAREHOUSE, STORAGE • 25,480 SF
      2001 21st S Ave, Seattle, WA 98144-4507
      View Details
    • Value Estimation by Request
      1,155 SF

      621 20th S Ave

      WAREHOUSE, STORAGE • 1,155 SF
      621 20th S Ave, Seattle, WA 98144-2208
      View Details
    • Value Estimation
      $1,180,000
      7,353 SF

      801 Rainier S Ave

      WAREHOUSE, STORAGE • 7,353 SF
      801 Rainier S Ave, Seattle, WA 98144-2837
      View Details
    • Value Estimation
      $890,000
      6,160 SF

      849 Rainier S Ave

      WAREHOUSE, STORAGE • 6,160 SF
      849 Rainier S Ave, Seattle, WA 98144
      View Details
    • Value Estimation
      $1,130,000
      7,420 SF

      2310 Rainier S Ave

      WAREHOUSE, STORAGE • 7,420 SF
      2310 Rainier S Ave, Seattle, WA 98144-5349
      View Details
    • Value Estimation
      $1,240,000
      12,484 SF

      2510 Beacon S Ave

      WAREHOUSE, STORAGE • 12,484 SF
      2510 Beacon S Ave, Seattle, WA 98144-5126
      View Details

    Similar Nearby for Sale

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      Magnolia Industrial Manufacturing Facility

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      South Seattle Industrial Building

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      South Seattle Industrial Building

      8,000 SF industrial building in South Seattle for sale.
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      29 SF

      Rainier Avenue R&D Building

      Class A high-tech facility in central Seattle.
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      South Seattle Industrial Flex Space

      8,000 SF Flex Space - $1.9M
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      Seattle Redevelopment Opportunity

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    Similar Nearby for Lease

    • $1,200 /Mo
      2,860 SF

      Industrial Warehouse Space Available

      Grade-level industrial warehouse with easy access to I-5 and I-90.
      1128 Poplar Pl S, Seattle, WA 98144
      View Details
    • $1.65 SF/Yr
      13,365 SF

      Interbay Flex/Industrial/Office Building For Lease

      13,365 SF building in thriving Interbay submarket, Seattle.
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    • Contact for pricing
      7,992 SF

      Industrial Space Available For Lease

      7,992 SF industrial space available January 1, 2026.
      2103 S Holgate St, Seattle, WA 98144
      View Details
    • Contact for pricing

      Seattle Warehouse Space Available

      Warehouse space available for rent in Seattle, Washington.
      2646 Rainier Ave S Seattle, Seattle, WA 98144
      View Details
    • Contact for pricing
      19,530 SF

      Office and Storage Space Available

      Office and storage space for rent in Seattle, WA.
      1130 Rainier Ave S, Seattle, WA 98144
      View Details
    • Contact for pricing
      100,000 SF

      Industrial Space in Seattle Available

      100,000 square feet of warehouse/industrial space for lease.
      2646-2700 Rainier Ave S, Seattle, WA 98144
      View Details
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    2501 Plum St
    Seattle, WA 98144-4711
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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