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

    304 152Nd St Shoreline, WA 98155

    • Commercial real estate
    • 19,809 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1107734
    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

    • Commercial real estate

    Property Details for 304 152Nd St

    Year built
    2023
    Property size
    19,809 SF
    Property type
    Commercial real estate
    APN
    2634500055

    Description

    Paramount 1 Apartments presents a compelling multifamily investment opportunity in Shoreline, WA. This newly constructed (2023) seven-story building boasts 35 units within a single building, totaling 19,809 square feet on an 8,973 square foot lot (APN 2634500055). The property is zoned MUR-70 and benefits from a significant tax advantage. Inclusion of seven affordable units qualifies Paramount 1 for a 20-year property tax exemption in Shoreline. Its location offers unparalleled convenience, situated within walking distance of the soon-to-be-completed (2024) light rail station on 145th Street, providing easy access to downtown Seattle, SeaTac Airport, and the U-District. The surrounding area is experiencing robust growth, with major corporations like Amazon and Google establishing a significant presence nearby, adding thousands of employees to the local workforce and fueling demand for housing. This, coupled with CoStar's forecast of consistent rent growth (4% in 2024, followed by 3% annually), positions Paramount 1 for strong returns. The property's urban setting offers residents access to a diverse range of amenities, including excellent dining, recreational spaces, and cultural attractions, making it a highly desirable location. This is a rare opportunity to acquire a modern, tax-advantaged multifamily asset in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Shoreline
    County
    King
    State
    Washington
    Longitude
    -122.32603457651
    Latitude
    47.739073961135

    Comparable in this City

    • $9,627,955
      52,043 SF

      Shoreline MUR-70 Zoned Land Assemblage

      Seven-lot assemblage near light rail station, zoned MUR-70.
      14861 5Th Ave NE, Shoreline, WA 98155
      View Details
    • Contact for pricing
      24,020 SF

      Shoreline Redevelopment Opportunity

      2.59-acre multifamily site, high NOI.
      16325 5Th Ave, Shoreline, WA 98155
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    • $11,500,000
      84,385 SF

      Development Site Near Light Rail

      84,385 SF development site near Shoreline light rail station.
      18318 3Rd Ave NE Shoreline, Shoreline, WA 98155
      View Details
    • $1,775,000
      6,446 SF

      Shoreline Apartments Near Light Rail

      Apartment building near Seattle with modernized units and light rail access.
      1728 145Th St, Shoreline, WA 98155
      View Details
    • $2,500,000

      Shoreline Multifamily Development Opportunity

      11,739 SF parcel near Sound Transit Light Rail Station.
      18516 8Th Ave, Shoreline, WA 98155
      View Details
    • $11,500,000

      Development Site Near Light Rail

      Development site near North Shoreline Light Rail Station.
      18340 3Rd Ave, Shoreline, WA 98155
      View Details

    Similar Nearby for Sale

    • $9,627,955
      52,043 SF

      Shoreline MUR-70 Zoned Land Assemblage

      Seven-lot assemblage near light rail station, zoned MUR-70.
      14861 5Th Ave NE, Shoreline, WA 98155
      View Details
    • Contact for pricing
      24,020 SF

      Shoreline Redevelopment Opportunity

      2.59-acre multifamily site, high NOI.
      16325 5Th Ave, Shoreline, WA 98155
      View Details
    • $11,500,000
      84,385 SF

      Development Site Near Light Rail

      84,385 SF development site near Shoreline light rail station.
      18318 3Rd Ave NE Shoreline, Shoreline, WA 98155
      View Details
    • $1,775,000
      6,446 SF

      Shoreline Apartments Near Light Rail

      Apartment building near Seattle with modernized units and light rail access.
      1728 145Th St, Shoreline, WA 98155
      View Details
    • $2,500,000

      Shoreline Multifamily Development Opportunity

      11,739 SF parcel near Sound Transit Light Rail Station.
      18516 8Th Ave, Shoreline, WA 98155
      View Details
    • $11,500,000

      Development Site Near Light Rail

      Development site near North Shoreline Light Rail Station.
      18340 3Rd Ave, Shoreline, WA 98155
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      1,560 SF

      Shoreline Office Space For Lease

      Prime Office Suite, Ballinger Way
      19944 Ballinger Way, Shoreline, WA 98155
      View Details
    • $22 SF/Yr
      1,554 SF

      Office Space at Ballinger Park

      Office space available with reception, conference room, and kitchen.
      19936-19944 Ballinger Way NE, Shoreline, WA 98155
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    • $16 SF/Yr
      2,119 SF

      SeaTac Retail Space For Lease

      Cost-effective commercial spaces for lease with excellent visibility and access.
      15300 33Rd Ave S, Seatac, WA 98155
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    • $28 SF/Yr
      1,343 SF

      Turnkey Office Suite For Lease

      Turnkey office suite in prime Shoreline location for lease.
      1207 N 152Nd St, Shoreline, WA 98155
      View Details
    • $22 SF/Yr
      1,560 SF

      Office Space at Ballinger Park

      Office space with reception, conference room, and private offices.
      19944 Ballinger Way NE, Shoreline, WA 98155
      View Details
    • $36 SF/Yr
      9,009 SF

      Alta City North Retail Spaces

      Shoreline Retail: New Construction, High Growth
      17732 15Th Ave, Shoreline, WA 98155
      View Details
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    304 152Nd St
    Shoreline, WA 98155
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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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