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Property profile & analytics
FOR LEASE
Hotels
255 South King St, Seattle, WA 98104
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-2177151
For Lease
$24,865,000
255 South King St, Seattle, WA 98104
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2018
Construction
STEEL FRAME
Total area
722,134 SF
Lot
1.5 ac (65,352 SF)
Zoning code
PSM-85-120
APN
766620-4878
UPID
US90-2177151
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
-
Skytap (Bike/Boat/Book/etc) Store Corporate Office
-
Embassy Suites by Hilton Seattle Downtown Pioneer Square Hotel & Motel
-
Tyler Technologies (Bike/Boat/Book/etc) Store Corporate Office
-
E Parking Lot & Garage
-
InSytu Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$24.87M
Owner & transaction history
Slalom INC · 2 yrs held
Slalom INC
since 2023
7 recorded transactions
Zoning & alternative use
PSM-85-120 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$34 / 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
$1,984,544
Tax year 2022
Assessed value
$242,917,500
Assessed 2022
Previous assessed
$242,917,500
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$28,101,300
Assessed improvement
$214,816,200
Land market value
$28,101,300
Improvement market value
$214,816,200
Total market value
$242,917,500
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
Hotels
Use group
HOTEL/MOTEL
Status
For Lease
Year built
2018
Construction
STEEL FRAME
Heating
CENTRAL
Stories
23
Total area
722,134 SF
Lot
1.5 ac (65,352 SF)
Zoning code
PSM-85-120
APN
766620-4878
UPID
US90-2177151
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PSM-85-120 · Seattle, WA
Zoning PSM-85-120 · permitted uses
PSM-85-120 · 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.
Building & site characteristics
From public records
Year built
2018
Construction
STEEL FRAME
Heating
CENTRAL
Stories
23
Lot
1.5 ac
Current owner
From public records · entity-resolved
Slalom INC
Entity
Free & Clear · 2 yrs held
Mailing address
925 4TH AVE STE #2900, SEATTLE, WA 98104-1158
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2023
—
Slalom INC
255 South King Street LP
Lease
—
Jun 8, 2021
—
255 South King Street LP
—
Deed
related
—
May 19, 2017
—
255 South King Street LP
—
Deed
related
$141,000,000 · Mif 255 South King LLC
Mar 31, 2016
—
255 South King Street LP
—
Trustees Deed
related
$110,000,000 · Private Individual
Aug 30, 2013
$18,000,000
255 South King Street LP
North Lot Dev LLC
Warranty Deed
$6,000,000 · North Lot Dev LLC
Sep 26, 2011
—
North Lot Dev LLC
King Cnty
Warranty Deed
—
—
—
North Lot Dev LLC
—
Deed Of Trust
related
$12,000,000 · Washington Trust Bank
—
—
North Lot Dev LLC
—
Deed Of Trust
related
$10,000,000 · Washington Trust Bank
—
—
255 South King Street LP
—
Loan Modification
related
$141,000,000 · Mif 255 South King LLC
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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