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Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Warehouses
307 Nickerson St, Seattle, WA 98109-1725
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-1393159
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1922
Construction
WOOD
Total area
4,339 SF
Lot
0.09 ac (3,848 SF)
Zoning code
C2-55 (M)
APN
524480-0045
UPID
US90-1393159
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
-
Spittin Llama Studios (Bike/Boat/Book/etc) Store Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.18M
CAP Approach
CAP
$735k
Comparable Approach
Comparable
$786k
Blend (final)
Blend
$1.19M
Owner & transaction history
Fremont Bridge Partners LLC · 5 yrs held
Fremont Bridge Partners LLC
since 2021
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
C2-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+39.3%
Office building
$1.8M
+38.5%
Retail stores
$1.7M
+35.7%
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
$1,185,000
ML approach
$1,180,000
CAP Approach
CAP Return
Estimation
6%
$795,000
6.5%
$735,000
7%
$680,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,280,000
Current use
AUTO REPAIR, GARAGE
$1,785,000
Change: +39% · Conversion: Easy
OFFICE BUILDING
$1,775,000
Change: +39% · Conversion: Difficult
RETAIL STORES
$1,740,000
Change: +36% · Conversion: Moderate
MEDICAL BUILDING
$1,490,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±10% · vs last sale $1.19M (Mar 12 2021)
Last sale anchor
$1.19M
Mar 12 2021
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
$273 / 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
$8,847
Tax year 2022
Assessed value
$998,200
Assessed 2022
Previous assessed
$998,200
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$615,600
Assessed improvement
$382,600
Land market value
$615,600
Improvement market value
$382,600
Total market value
$998,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1922
Construction
WOOD
Heating
ELECTRIC
Cooling
CENTRAL
Stories
2
Total area
4,339 SF
Lot
0.09 ac (3,848 SF)
Zoning code
C2-55 (M)
APN
524480-0045
UPID
US90-1393159
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C2-55 (M) · Seattle, WA
Zoning C2-55 (M) · permitted uses
C2-55 (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
WAREHOUSE, STORAGE Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1922
Construction
WOOD
Heating
ELECTRIC
Cooling
Yes
Stories
2
Lot
0.09 ac
Current owner
From public records · entity-resolved
Fremont Bridge Partners LLC
Entity
Free & Clear · 5 yrs held
Mailing address
485 ALBERTO WAY STE #200, LOS GATOS, CA 95032-5476
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2021
$1,190,000
Fremont Bridge Partners LLC
David C Marr
Special Warranty Deed
—
Sep 4, 2001
—
David C Marr
Marr Trust
Quit Claim Deed
related
—
Jun 3, 1991
—
Marr Family Trust
Marr,irvine M&fr
Quit Claim Deed
related
—
Apr 29, 1991
$290,000
Irvin M Marr
Kyle
Grant Deed
—
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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