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Property profile & analytics
OFF-MARKET
Estimated value
$14,320,000
Retail space
301 Northgate Way, Seattle, WA 98125-6020
Individually Owned
21-yr Hold
~
Est. High Equity
Property ID
US90-0606845
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
46,513 SF
Lot
5.9 ac (257,194 SF)
Zoning code
SM-NG 145
APN
292604-9025
UPID
US90-0606845
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.58M
Comparable Approach
Comparable
$9.45M
Blend (final)
Blend
$14.32M
Owner & transaction history
Northgate Mall Ptshp · 21 yrs held
Northgate Mall Ptshp
since 2005
3 recorded transactions
Zoning & alternative use
SM-NG 145 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$23.5M
+26.2%
Auto repair, garage
$19.1M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$15,790,000
6.5%
$14,575,000
7%
$13,535,000
Alternative Use
Use
Estimation
RETAIL STORES
$18,650,000
Current use
COMMERCIAL (GENERAL)
$23,535,000
Change: +26% · Conversion: Easy
AUTO REPAIR, GARAGE
$19,135,000
Change: +3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$16,495,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$16,435,000
Change: -12% · Conversion: Easy
MEDICAL BUILDING
$15,995,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$14.32M
Range $12.89M – $15.75M · ±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
$308 / 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
$361,676
Tax year 2022
Assessed value
$38,580,100
Assessed 2022
Previous assessed
$38,580,100
+0.0% YoY
Effective rate
0.94%
On assessed value
Assessed land
$38,579,100
Assessed improvement
$1,000
Land market value
$38,579,100
Improvement market value
$1,000
Total market value
$38,580,100
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
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Buildings
4
Stories
1
Total area
46,513 SF
Lot
5.9 ac (257,194 SF)
Zoning code
SM-NG 145
APN
292604-9025
UPID
US90-0606845
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SM-NG 145 · Seattle, WA
Zoning SM-NG 145 · permitted uses
SM-NG 145 · 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
$18.7M
COMMERCIAL (GENERAL)
Est. value
$23.5M
AUTO REPAIR, GARAGE
Est. value
$19.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$16.5M
OFFICE BUILDING
Est. value
$16.4M
MEDICAL BUILDING
Est. value
$16.0M
RETAIL STORES Current
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
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
1
Buildings
4
Lot
5.9 ac
Current owner
From public records · entity-resolved
Northgate Mall Ptshp
Individual
Mailing address
PO BOX 6120, INDIANAPOLIS, IN 46206-6120
Ownership since
2005
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
May 20, 2020
—
Seattle Ice Centre LLC
—
Deed
related
$50,000,000 · Wafd Bank
Mar 31, 2005
$1,250,200
Northgate Mall Ptshp
Hudesman Juneau-northgate LLC
Quit Claim Deed
related
—
Mar 17, 1999
—
Hudesman Juneau-northgate LLC
David Hudesman Estate
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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