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Property profile & analytics
OFF-MARKET
Estimated value
$66,455,000
Investment properties
311 Cedar St Seattle, WA 98121-1473
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0157898
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2011
Construction
CONCRETE
Total area
122,655 SF
Lot
0.29 ac (12,720 SF)
Zoning code
DMR/R 280/65
APN
065600-0400
UPID
US90-0157898
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
-
Zipcar Car Rental Facility
-
De-Haze Employment Agency
-
Dorian Apartments Apartment Building Apartment Complex
-
K & K Process Services Law Firm
-
TradingFlow IT Consulting Firm Data Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$66.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$66.46M
Owner & transaction history
Alto 92 Owner Sub LLC · 1 yrs held
Alto 92 Owner Sub LLC
since 2024
Last sale
$66.5M
7 recorded transactions
Zoning & alternative use
DMR/R 280/65 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Municipal Code
Top alternative use upside
Restaurant
$64.4M
+3.7%
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
$66,455,000
ML approach
$66,455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$62,065,000
Current use
RESTAURANT
$64,365,000
Change: +4% · Conversion: Difficult
AUTO REPAIR, GARAGE
$50,460,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$66.46M
Range $59.81M – $73.10M · ±10% · vs last sale $66.45M (Oct 29 2024)
Last sale anchor
$66.45M
Oct 29 2024
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
$542 / 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
$570,695
Tax year 2022
Assessed value
$69,995,000
Assessed 2022
Previous assessed
$69,995,000
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$10,748,400
Assessed improvement
$59,246,600
Land market value
$10,748,400
Improvement market value
$59,246,600
Total market value
$69,995,000
Applied tax rate
11.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2011
Construction
CONCRETE
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
17
Units
185
Total area
122,655 SF
Lot
0.29 ac (12,720 SF)
Zoning code
DMR/R 280/65
APN
065600-0400
UPID
US90-0157898
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DMR/R 280/65 · Seattle, WAZoning DMR/R 280/65 · permitted uses
DMR/R 280/65 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Municipal Code
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$62.1M
RESTAURANT
Est. value
$64.4M
AUTO REPAIR, GARAGE
Est. value
$50.5M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
2011
Construction
CONCRETE
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
17
Units
185
Lot
0.29 ac
Current owner
From public records · entity-resolved
Alto 92 Owner Sub LLC
Entity
Mailing address
7121 FAIRWAY DR STE #410, PALM BEACH GARDENS, FL 33418-3776
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2024
—
Alto 92 Owner Sub LLC
Alto 92 Owner LP
Deed
related
$34,386,000 · Cbre Capital Markets INC
Jul 13, 2020
$66,454,000
Alto 92 Owner LP
311 Cedar Street LLC
Grant Deed
$35,000,000 · Miscellaneous Ins Co
Aug 15, 2017
—
311 Cedar Street LLC
—
Deed
related
$35,000,000 · Miscellaneous Ins Co
Jun 23, 2016
—
311 Cedar Street LLC
—
Deed
related
$35,000,000 · Hsbc Bk USA NA
Feb 4, 2014
—
311 Cedar Street LLC
Alto Apartments LLC
Grant Deed
related
—
Jul 18, 2013
$61,968,800
311 Cedar Street LLC
Alto Apartments LLC
Warranty Deed
$35,000,000 · Hsbc Bank USA
Nov 18, 2010
—
Alto Apartments LLC
Harbor Alto LLC
Bargain And Sale Deed
$27,500,000 · Wells Fargo Bank NA
Mar 2, 2009
$4,730,000
Harbor Alto LLC
Musicians Club Of Seattle
Warranty Deed
$3,730,000 · Musicians' Club Of Seattle
—
—
311 Cedar Street LLC
—
Deed Of Trust
related
$35,000,000 · Hsbc Bk USA NA
—
—
311 Cedar Street LLC
—
Deed Of Trust
related
$35,000,000 · Miscellaneous Ins Co
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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