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

    255 Austin St Seattle, WA 98108-4119

    • Manufacturing properties
    • 9,792 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Jan 11, 2023
    $2,368,750
    Value Estimations
    $2,180,000
    Show details
    Cap Rate Potential
    3.7%
    Manufacturing properties
    Location Intelligence
    Property ID
    US90-1417506
    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

    • Modern Pattern Works / Manufacturer

    Property Details for 255 Austin St

    Year built
    1976
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.34 lot acres
    Property size
    9,792 SF
    Zone code
    IG2 U/65
    Property type
    Manufacturing properties
    APN
    732790-4830
    APU
    7327904830

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,370,000
      ML approach
      $2,370,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,607,000
      Market price range: $1.57M - $3.51M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,620,000
      Current use
      RETAIL STORES
      $3,925,000
      Change: +50% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $3,475,000
      Change: +32% Conversion: Difficult
      OFFICE BUILDING
      $3,460,000
      Change: +32% Conversion: Difficult
      MEDICAL BUILDING
      $3,365,000
      Change: +28% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.329
    Latitude
    47.5346
    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
    2022
    $12,585
    $600,000
    $600,000
    $1,200,000
    -
    $600,000
    $600,000
    $1,200,000

    Comparable in this City

    • Value Estimation
      $625,000
      44,445 SF

      5801 3rd S Ave

      MANUFACTURING (LIGHT) • 44,445 SF
      5801 3rd S Ave, Seattle, WA 98108-3205
      View Details
    • Value Estimation
      $505,000
      24,925 SF

      1313 96th St

      MANUFACTURING (LIGHT) • 24,925 SF
      1313 96th St, Seattle, WA 98108-5011
      View Details
    • Value Estimation
      $545,000
      25,000 SF

      115 Lucile St

      MANUFACTURING (LIGHT) • 25,000 SF
      115 Lucile St, Seattle, WA 98108-2431
      View Details
    • Value Estimation
      $345,000
      16,392 SF

      6239 Corson S Ave

      MANUFACTURING (LIGHT) • 16,392 SF
      6239 Corson S Ave, Seattle, WA 98108-3443
      View Details
    • Value Estimation
      $560,000
      16,767 SF

      5800 Corson S Ave

      MANUFACTURING (LIGHT) • 16,767 SF
      5800 Corson S Ave, Seattle, WA 98108-2606
      View Details
    • Value Estimation
      $380,000
      6,822 SF

      751 Michigan St

      MANUFACTURING (LIGHT) • 6,822 SF
      751 Michigan St, Seattle, WA 98108-2636
      View Details

    Similar Nearby for Sale

    • $5,700,000

      Seattle Manufacturing Warehouse on 1.44 Acres

      Securely fenced Seattle site with manufacturing warehouse and office space.
      631 96Th St, Seattle, WA 98108
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      12 SF

      Warehouse Space Near Boeing Field

      Warehouse space suitable for manufacturing, fabrication, or light distribution.
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      55,700 SF

      Georgetown Office/Warehouse Space

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      129,625 SF

      Seattle Industrial Spaces for Lease

      Industrial spaces for lease in Seattle commercial park.
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      65,562 SF

      Seattle Warehouse with Secured Parking

      Standalone warehouse building with fenced parking on 2.62 acres.
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    • $3,100,000
      6,500 SF

      Georgetown Warehouse with Secure Yard

      6,500 SF warehouse with 1,500 SF office space.
      808 Fidalgo St, Seattle, WA 98108
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    Similar Nearby for Lease

    • Contact for pricing
      5,050 SF

      Seattle Industrial Property with Crane

      Industrial property featuring a crane system and wash bay.
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      View Details
    • Contact for pricing
      119,859 SF

      Industrial Space with Excellent Access

      Industrial property for rent with immediate highway access.
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    • $20 SF/Yr
      10,668 SF

      Seattle Flex/Industrial Space Available

      Flex/industrial space available for lease in Seattle, Washington.
      5963 Corson Ave South, Seattle, WA 98108
      View Details
    • Contact for pricing
      3,424 SF

      Seattle Flex Space For Rent

      3,424 SF flex space with fenced lot available for lease.
      543 S Monroe St, Seattle, WA 98108
      View Details
    • Contact for pricing
      20,000 SF

      Warehouse Space Available For Lease

      20,000 SF warehouse space with 32' clear height.
      7245 W Marginal Way SW, Seattle, WA 98108
      View Details
    • Contact for pricing
      9,281 SF

      Industrial Space Available For Lease

      9,281 SF industrial space available for lease November 2025.
      1601 South 92Nd Pl, Seattle, WA 98108
      View Details
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    255 Austin St
    Seattle, WA 98108-4119
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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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