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Property profile & analytics
OFF-MARKET
Estimated value
$3,165,000
Office buildings
2529 Rainier S Ave, Seattle, WA 98144
Entity Owned
Free & Clear
Property ID
US90-1623170
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1978
Construction
WOOD
Total area
13,648 SF
Lot
1 ac (43,560 SF)
Zoning code
SM-NR 95 (M)
APN
000360-0005
UPID
US90-1623170
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.93M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.17M
Owner & transaction history
Employment Security Department
Employment Security Department
since 2026
2 recorded transactions
Zoning & alternative use
SM-NR 95 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.8M
+0.4%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$4,260,000
6.5%
$3,930,000
7%
$3,650,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,825,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,840,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$4,695,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$4,030,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$3.17M
Range $2.85M – $3.48M · ±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
$232 / 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
$57,739
Tax year 2022
Assessed value
$6,099,400
Assessed 2022
Previous assessed
$6,099,400
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$6,098,400
Assessed improvement
$1,000
Land market value
$6,098,400
Improvement market value
$1,000
Total market value
$6,099,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1978
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
13,648 SF
Lot
1 ac (43,560 SF)
Zoning code
SM-NR 95 (M)
APN
000360-0005
UPID
US90-1623170
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SM-NR 95 (M) · Seattle, WA
Zoning SM-NR 95 (M) · permitted uses
SM-NR 95 (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
OFFICE BUILDING Current
Est. value
$4.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$4.7M
WAREHOUSE, STORAGE
Est. value
$4.0M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
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
1978
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
Employment Security Department
Entity
Free & Clear · 0 yrs held
Mailing address
11225 SE 6TH ST STE #220, BELLEVUE, WA 98004-6477
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2026
—
Employment Security Department
Reiko E Sato
Deed
—
Apr 1, 2021
—
Reiko E Sato
Ray Y Sato
Intrafamily Transfer
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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