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Property profile & analytics
OFF-MARKET
Estimated value
$5,570,000
Distribution centers
2755 Airport S Way Seattle, WA 98134-2112
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-0484978
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,310 SF
Lot
0.37 ac (16,200 SF)
Zoning code
IG2 U/85
APN
766620-3150
UPID
US90-0484978
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
-
SJS Mechanical Services, LLC General Contractor Construction Company
-
Barcodes West Industrial Manufacturer Production Facility
-
Construction & Design Associates Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.50M
CAP Approach
CAP
$3.61M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.57M
Owner & transaction history
P & T Properties LLC · 6 yrs held
P & T Properties LLC
since 2020
Last sale
$5.7M
7 recorded transactions
Zoning & alternative use
IG2 U/85 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Municipal Code
Top alternative use upside
Auto repair, garage
$8.8M
+41.0%
Retail stores
$8.5M
+37.5%
Apartment house (5+ units)
$7.6M
+21.6%
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
$5,490,000
ML approach
$5,500,000
CAP Approach
CAP Return
Estimation
6%
$3,905,000
6.5%
$3,605,000
7%
$3,345,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,215,000
Current use
AUTO REPAIR, GARAGE
$8,765,000
Change: +41% · Conversion: Easy
RETAIL STORES
$8,545,000
Change: +37% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$7,560,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$7,530,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$7,325,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$5.57M
Range $5.01M – $6.13M · ±10% · vs last sale $5.65M (Jan 17 2020)
Last sale anchor
$5.65M
Jan 17 2020
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
$261 / 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
$50,010
Tax year 2022
Assessed value
$5,781,800
Assessed 2022
Previous assessed
$5,781,800
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$1,215,000
Assessed improvement
$4,566,800
Land market value
$1,215,000
Improvement market value
$4,566,800
Total market value
$5,781,800
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
21,310 SF
Lot
0.37 ac (16,200 SF)
Zoning code
IG2 U/85
APN
766620-3150
UPID
US90-0484978
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/85 · Seattle, WAZoning IG2 U/85 · permitted uses
IG2 U/85 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Municipal Code
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$6.2M
AUTO REPAIR, GARAGE
Est. value
$8.8M
RETAIL STORES
Est. value
$8.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.6M
OFFICE BUILDING
Est. value
$7.5M
MEDICAL BUILDING
Est. value
$7.3M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
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
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.37 ac
Current owner
From public records · entity-resolved
P & T Properties LLC
Entity
Mailing address
2755 AIRPORT WAY S, SEATTLE, WA 98134-2112
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2025
—
P & T Properties LLC
—
Deed
related
$150,000 · Hv Properties LLC
Jan 17, 2020
$5,650,000
P & T Properties LLC
Falconbridge Enterprises INC
Warranty Deed
$4,802,500 · Wells Fargo Bank NA
Jul 19, 2018
—
Falconbridge Ents INC
—
Deed
related
$750,000 · Heritage Bk
Jan 4, 2018
—
Falconbridge Enterprises INC
—
Deed
related
$500,000 · Puget Sound Bank
Mar 10, 2017
—
Falconbridge Enterprises INC
—
Deed
related
$350,000 · Puget Sound Bank
Mar 29, 2013
$1,900,000
Falconbridge Enterprises INC
Rd Associates LLC
Warranty Deed
$1,840,000 · Puget Sound Bank
Dec 23, 2003
$1,180,000
Rd Associates LLC
Anderson,tr
Grant Deed
$1,031,000 · Anderson Trust
Jun 19, 2003
—
Bank Of America NA Trustee
Bank Of America NA Trustee
Quit Claim Deed
related
—
—
—
Rd Associates LLC
—
Deed Of Trust
related
$960,000 · Bank Of America
—
—
Falconbridge Ents INC
—
Loan Modification
related
$750,000 · Heritage Bk
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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