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Property profile & analytics
OFF-MARKET
Estimated value
$17,980,000
Outlet malls
2701 Utah S Ave Seattle, WA 98134-1814
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-1510174
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
107,930 SF
Lot
5.38 ac (234,300 SF)
Zoning code
IG1 U/85
APN
766620-7295
UPID
US90-1510174
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
-
Tool & Truck Rental Center at The Home Depot Rental Equipment Company
-
Garden Center at The Home Depot Garden Center
-
KeyExpress Locksmiths Locksmith (Bike/Boat/Book/etc) Store
-
Pro Desk at The Home Depot Big Box & Wholesale Store Building Supply
-
Home Services at The Home Depot Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$24.76M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.98M
Owner & transaction history
First & Utah Properties LLC · 9 yrs held
First & Utah Properties LLC
since 2016
3 recorded transactions
Zoning & alternative use
IG1 U/85 · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$26,820,000
6.5%
$24,760,000
7%
$22,990,000
Blend value · Realmo final
$17.98M
Range $16.18M – $19.78M · ±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
$167 / 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
$202,573
Tax year 2022
Assessed value
$19,515,840
Assessed 2022
Previous assessed
$19,515,840
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$17,572,500
Assessed improvement
$1,943,340
Land market value
$17,572,500
Improvement market value
$1,943,340
Total market value
$19,515,840
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
107,930 SF
Lot
5.38 ac (234,300 SF)
Zoning code
IG1 U/85
APN
766620-7295
UPID
US90-1510174
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG1 U/85 · Seattle, WA
Zoning IG1 U/85 · permitted uses
IG1 U/85 · 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
1993
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
5.38 ac
Current owner
From public records · entity-resolved
First & Utah Properties LLC
Entity
Mailing address
2401 UTAH AVE S STE #305, SEATTLE, WA 98134-1431
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2025
—
First And Utah Properties LLC
—
Deed
related
$435,000,000 · German American Capital Corp
Sep 15, 2016
—
First & Utah Properties LLC
First & Utah Street Associates LLC
Quit Claim Deed
related
$140,000,000 · Deutsche Bank National Trust Co
Sep 27, 2002
—
First & Utah Street Associates
—
Deed Of Trust
related
$66,064,000 · Teachers Insurance & Annuity
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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