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Property profile & analytics
OFF-MARKET
Estimated value
$2,370,000
Manufacturing properties
255 Austin St, Seattle, WA 98108-4119
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-1417506
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,792 SF
Lot
0.34 ac (15,000 SF)
Zoning code
IG2 U/65
APN
732790-4830
UPID
US90-1417506
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
-
Modern Pattern Works Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.61M
Blend (final)
Blend
$2.37M
Owner & transaction history
255 S Austin LLC · 3 yrs held
255 S Austin LLC
since 2023
Last sale
$2.4M
2 recorded transactions
Zoning & alternative use
IG2 U/65 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.9M
+49.8%
Apartment house (5+ units)
$3.5M
+32.5%
Office building
$3.5M
+32.0%
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
$2,370,000
ML approach
$2,370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$2.37M
Range $2.13M – $2.61M · ±10% · vs last sale $2.37M (Jan 11 2023)
Last sale anchor
$2.37M
Jan 11 2023
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
$242 / 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
$12,585
Tax year 2022
Assessed value
$1,200,000
Assessed 2022
Previous assessed
$1,200,000
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$600,000
Assessed improvement
$600,000
Land market value
$600,000
Improvement market value
$600,000
Total market value
$1,200,000
Applied tax rate
10.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
9,792 SF
Lot
0.34 ac (15,000 SF)
Zoning code
IG2 U/65
APN
732790-4830
UPID
US90-1417506
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WA
Zoning IG2 U/65 · permitted uses
IG2 U/65 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$2.6M
RETAIL STORES
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.4M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
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
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
255 S Austin LLC
Entity
Free & Clear · 3 yrs held
Mailing address
4742 42ND AVE SW, SEATTLE, WA 98116-4553
Ownership since
2023
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
Jan 11, 2023
$2,368,750
255 S Austin LLC
Leanette M Holmes
Warranty Deed
—
Mar 8, 2021
—
Fred Schoen Fiduciary Services INC
Annette M Kelson
Quit Claim Deed
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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