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Property profile & analytics
OFF-MARKET
Estimated value
$5,845,000
Skating rinks
301 Northgate Way Seattle, WA 98125-6020
Entity Owned
20-yr Hold
Free & Clear
Property ID
US90-0928449
Property profile
Verified
Property type
Skating rinks
Use group
SKATING RINK, ICE SKATING, ROLLER SKATING
Year built
1950
Construction
STEEL FRAME
Total area
172,297 SF
Lot
4.21 ac (183,343 SF)
Zoning code
NC3-95 (M)
APN
292604-9272
UPID
US90-0928449
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.85M
Owner & transaction history
City Of Seattle · 20 yrs held
City Of Seattle
since 2005
2 recorded transactions
Zoning & alternative use
NC3-95 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping district that serves the surrounding neighborhood and a larger community, citywide, or regional clientele; that provides comparison shopping for a wide range of retail goods and services; that incorporates offices, business supp…
Zone name
Neighborhood Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
117.91 ac
Source
Realmo
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$5,805,000
Current use
Blend value · Realmo final
$5.85M
Range $5.26M – $6.43M · ±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
$34 / 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
$791,492
Tax year 2022
Assessed value
$93,233,800
Assessed 2022
Previous assessed
$93,233,800
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$27,501,400
Assessed improvement
$65,732,400
Land market value
$27,501,400
Improvement market value
$65,732,400
Total market value
$93,233,800
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
Skating rinks
Use group
SKATING RINK, ICE SKATING, ROLLER SKATING
Status
Off-Market
Year built
1950
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
AC.CHILLED WATER
Stories
2
Total area
172,297 SF
Lot
4.21 ac (183,343 SF)
Zoning code
NC3-95 (M)
APN
292604-9272
UPID
US90-0928449
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3-95 (M) · Seattle, WAZoning NC3-95 (M) · permitted uses
NC3-95 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping district that serves the surrounding neighborhood and a larger community, citywide, or regional clientele; that provides comparison shopping for a wide range of retail goods and services; that incorporates offices, business support services, and residences that are compatible with the retail character of the area. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Neighborhood Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
117.91 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$5.8M
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
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
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
4.21 ac
Current owner
From public records · entity-resolved
City Of Seattle
Entity
Free & Clear · 20 yrs held
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 14, 2005
—
City Of Seattle
Northgate Mall Ptshp
Warranty Deed
—
—
—
Seattle Ice Centre LLC
—
Deed Of Trust
related
$50,000,000 · Wafd 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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