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Property profile & analytics
OFF-MARKET
Estimated value
$3,300,000
Retail space
2626 15th W Ave Seattle, WA 98119-2194
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0597926
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,630 SF
Lot
0.3 ac (13,108 SF)
Zoning code
NC3-55 (M)
APN
277060-3977
UPID
US90-0597926
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
-
Dr. Benson M. Jerry, DDS Physician
-
Able Services General Contractor
-
ABM - Facility Services General Contractor Construction Company
-
ABM Industries General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.22M
Blend (final)
Blend
$3.30M
Owner & transaction history
Desc 15th Ave Lllp · 2 yrs held
Desc 15th Ave Lllp
since 2024
Last sale
$3.3M
7 recorded transactions
Zoning & alternative use
NC3-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.0M
+30.9%
Commercial (general)
$3.9M
+26.2%
Auto repair, garage
$3.1M
+2.6%
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
$3,300,000
ML approach
$3,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,060,000
Current use
RESTAURANT
$4,005,000
Change: +31% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,860,000
Change: +26% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,140,000
Change: +3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,705,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$2,695,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$2,625,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$3.30M
Range $2.97M – $3.63M · ±10% · vs last sale $3.30M (Apr 24 2024)
Last sale anchor
$3.30M
Apr 24 2024
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
$433 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$22,460
Tax year 2024
Assessed value
$1,967,200
Assessed 2023
Previous assessed
$1,967,200
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$1,966,200
Assessed improvement
$1,000
Land market value
$1,966,200
Improvement market value
$1,000
Total market value
$1,967,200
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Total area
7,630 SF
Lot
0.3 ac (13,108 SF)
Zoning code
NC3-55 (M)
APN
277060-3977
UPID
US90-0597926
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3-55 (M) · Seattle, WA
Zoning NC3-55 (M) · permitted uses
NC3-55 (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
RETAIL STORES Current
Est. value
$3.1M
RESTAURANT
Est. value
$4.0M
COMMERCIAL (GENERAL)
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.6M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1945
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Lot
0.3 ac
Current owner
From public records · entity-resolved
Desc 15th Ave Lllp
Entity
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2024
$3,300,000
Desc 15th Ave Lllp
Downtown Emergency Service Center
Warranty Deed
$2,527,030 · King County
Jan 4, 2024
—
The City Of Seattle
Downtown Emergency Service Center
Deed
—
Nov 10, 2022
$2,900,000
Downtown Emergency Service Center
Interbay Real Estate LLC
Warranty Deed
$5,000,000 · Corporation For Supportive Housing
Jul 24, 2009
—
Interbay Real Estate LLC
Tsubota,liane
Quit Claim Deed
related
—
May 11, 2005
$1,235,000
Liane Tsubota
Pappalardo,joseph M & Suna
Warranty Deed
—
Nov 30, 1995
$450,000
Joseph M Pappalardo
Hunt Trust
Grant Deed
$370,000 · Seller
—
—
Joseph M Pappalardo
—
Deed Of Trust
related
$425,000 · Us Bank NA
—
—
Joseph M Pappalardo
—
Deed Of Trust
related
$487,500 · Us Bank
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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