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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Retail space
2821 Thorndyke W Ave Seattle, WA 98199-2906
Entity Owned
25-yr Hold
~
Est. High Equity
Property ID
US90-1062157
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,582 SF
Lot
0.1 ac (4,170 SF)
Zoning code
LR3 (M)
APN
277110-4020
UPID
US90-1062157
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
-
The Outer Rim Cafe & Coffee Shop
-
Urgent Appliance Service Furnace Repair Service Refrigerator Repair Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$820k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$805k
Owner & transaction history
Thorndyke 2821 LLC · 25 yrs held
Thorndyke 2821 LLC
since 2001
7 recorded transactions
Zoning & alternative use
LR3 (M) · 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%
$890,000
6.5%
$820,000
7%
$765,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,265,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$1,230,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$805k
Range $725k – $886k · ±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
$225 / 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
$12,117
Tax year 2022
Assessed value
$1,393,500
Assessed 2022
Previous assessed
$1,393,500
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$688,000
Assessed improvement
$705,500
Land market value
$688,000
Improvement market value
$705,500
Total market value
$1,393,500
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
ELECTRIC
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
3,582 SF
Lot
0.1 ac (4,170 SF)
Zoning code
LR3 (M)
APN
277110-4020
UPID
US90-1062157
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
LR3 (M) · Seattle, WA
Zoning LR3 (M) · permitted uses
LR3 (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
OFFICE BUILDING
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.2M
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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
ELECTRIC
Cooling
Yes
Stories
2
Buildings
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Thorndyke 2821 LLC
Entity
Mailing address
16220 NE 6TH ST, BELLEVUE, WA 98008-4332
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2017
—
Thorndyke 2821 LLC
—
Deed
related
$835,000 · Wells Fargo Bank NA
Apr 12, 2001
$497,000
Thorndyke 2821 LLC
Iverson,sverre
Grant Deed
$373,000 · Pacific Northwest Bank
Sep 30, 1994
$325,000
Sverre Iversen
Kim,tae H & Judy Y
Grant Deed
$215,000 · Seller
May 1, 1991
$190,000
Tae H Kim
Hunt,joseph W
Grant Deed
$150,000 · Hunt Joseph W
—
—
Thorndyke 2821 LLC
—
Deed Of Trust
related
$25,000 · United Commercial Bank
—
—
Thorndyke 2021 LLC
—
Deed Of Trust
related
$45,000 · William L
—
—
Thorndyke 2821 LLC
—
Deed Of Trust
related
$85,000 · United Commercial 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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