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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2840 Madison St Seattle, WA 98112-4841

    • Retail space
    • 1,940 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $410,000
    Show details
    Cap Rate Potential
    7.2%
    Retail space
    Location Intelligence
    Property ID
    US90-0898079
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • FastFrame Seattle - Custom Frame Shop / Picture Frame Shop

    Property Details for 2840 Madison St

    Year built
    1928
    Construction
    FRAME
    Lot size
    0.13 lot acres
    Property size
    1,940 SF
    Zone code
    NC2P-55 (M)
    Property type
    Retail space
    APN
    501600-1830
    APU
    5016001830

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $480,000
      6.5%
      $445,000
      7%
      $415,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $385,000
      Market price range: $106k - $401k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.296
    Latitude
    47.6243
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $16,930
    $1,431,800
    $1,000
    $1,432,800
    -
    $1,431,800
    $1,000
    $1,432,800

    Comparable in this City

    • Value Estimation
      $700,000
      3,525 SF

      518 15th E Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,525 SF
      518 15th E Ave, Seattle, WA 98112-4513
      View Details
    • Value Estimation
      $305,000
      3,395 SF

      2223 24th E Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,395 SF
      2223 24th E Ave, Seattle, WA 98112-3038
      View Details
    • Value Estimation
      $1,075,000
      5,800 SF

      2311 24th E Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,800 SF
      2311 24th E Ave, Seattle, WA 98112
      View Details
    • Value Estimation by Request
      1,102 SF

      1900 Aloha St

      RETAIL STORES (PERSONAL SERVICES) • 1,102 SF
      1900 Aloha St, Seattle, WA 98112-4042
      View Details
    • Value Estimation
      $485,000
      5,572 SF

      2808 Madison St

      RETAIL STORES (PERSONAL SERVICES) • 5,572 SF
      2808 Madison St, Seattle, WA 98112-4862
      View Details
    • Value Estimation
      $330,000
      2,955 SF

      1837 42nd E Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,955 SF
      1837 42nd E Ave, Seattle, WA 98112-3219
      View Details

    Similar Nearby for Sale

    • $4,900,000

      Capitol Hill Office/Retail Building

      Office or service retail building in vibrant Capitol Hill.
      115 15Th Ave E Seattle, Seattle, WA 98112
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      Restored mixed-use building in Capitol Hill with office and residential.
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      Versatile Commercial Building in Seattle

      Three-level building suitable for office, retail, or community amenities.
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    • $4,000,000

      Prime Retail Space in Seattle

      Retail property in affluent Madison Park neighborhood, across from Lake Washington.
      4242 Madison St, Seattle, WA 98112
      View Details
    • $2,100,000
      5,400 SF

      Madison Park Multifamily Investment Opportunity

      Classic five-unit property in coveted Madison Park neighborhood.
      633 33Rd Ave E, Seattle, WA 98112
      View Details
    • $6,650,000

      Capitol Hill Multifamily Investment Opportunity

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    Similar Nearby for Lease

    • $1,800 /Mo
      360 SF

      Madison Street Retail Space For Rent

      360 SF retail space with excellent visibility and natural light.
      4111 E Madison St, Seattle, WA 98112
      View Details
    • $4,550,000
      500 SF

      Retail Space in Madison Valley

      Retail property in Seattle's affluent Madison Valley neighborhood.
      2711 E Madison St, Seattle, WA 98112
      View Details
    • $50 SF/Yr
      887 SF

      Prime Retail Space Near Madison Beach

      887 SF retail space in vibrant Madison Park neighborhood.
      1928 43Rd Ave E, Seattle, WA 98112
      View Details
    • $38 SF/Yr
      9,032 SF

      Retail Space in Grand Street Commons

      Mixed-use retail space available in Seattle's Grand Street Commons.
      1750 22Nd Ave S, Seattle, WA 98112
      View Details
    • Contact for pricing
      37,671 SF

      Seattle Warehouse/Retail/Industrial Space For Rent

      37,671 SF available for wholesale, retail, and industrial uses.
      1502-1524 15Th Ave W, Seattle, WA 98112
      View Details
    • $40 SF/Yr
      3,405 SF

      New Retail Space Available

      Retail and restaurant spaces available in Seattle's Grand Street Commons.
      1700-1716 21St Ave S, Seattle, WA 98112
      View Details
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    2840 Madison St
    Seattle, WA 98112-4841
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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