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Property profile & analytics
OFF-MARKET
Estimated value
$18,435,000
Distribution centers
3201 Norfolk St Seattle, WA 98118-5580
Individually Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-1795694
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
171,924 SF
Lot
8.41 ac (366,226 SF)
Zoning code
IC-85 (M)
APN
032304-9024
UPID
US90-1795694
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
-
Rivian Service Center Auto Repair Shop Vehicle Inspection Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.44M
Owner & transaction history
Prologis-exchange 3301 South N · 9 yrs held
Prologis-exchange 3301 South N
since 2016
7 recorded transactions
Zoning & alternative use
IC-85 (M) · Seattle, WA
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$107 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$438,695
Tax year 2024
Assessed value
$14,649,000
Assessed 2023
Previous assessed
$14,649,000
+0.0% YoY
Effective rate
2.99%
On assessed value
Assessed land
$14,649,000
Land market value
$14,649,000
Total market value
$14,649,000
Applied tax rate
2,430.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
171,924 SF
Lot
8.41 ac (366,226 SF)
Zoning code
IC-85 (M)
APN
032304-9024
UPID
US90-1795694
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IC-85 (M) · Seattle, WAZoning IC-85 (M) · permitted uses
IC-85 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Municipal Code
Building & site characteristics
From public records
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
8.41 ac
Current owner
From public records · entity-resolved
Prologis-exchange 3301 South N
Individual
Free & Clear · 9 yrs held
Mailing address
1800 WAZEE ST, DENVER, CO 80202-1577
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2016
$78,880,000
Prologis-exchange 3301 South N
3301 South Norfolk LLC
Grant Deed
related
—
Apr 19, 2007
$43,680,000
3301 South Norfolk LLC
Sea-tuk Warehouse LLC
Grant Deed
—
Apr 19, 2007
—
3301 South Norfolk LLC
Sea-tuk Warehouse LLC
Quit Claim Deed
related
—
Sep 25, 2001
—
Sea-tuk Warehouse LLC
Sea-tuk Real Estate INC
Quit Claim Deed
related
—
Nov 29, 2000
—
Associated Grocers INC
—
Deed Of Trust
related
$350,000,000 · State Street Bank & Tr Co Ttee
—
—
3301 South Norfolk LLC
—
Deed Of Trust
related
—
—
—
3301 South Norfolk LLC
—
Deed Of Trust
related
—
—
—
Sea-tuk Warehouse LLC
—
Deed Of Trust
related
$33,500,000 · Gmac Commercial Mortgage Corp
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.
Try Rey
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