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Property profile & analytics
FOR SALE
Commercial real estate
3228 1St Ave S Seattle, WA 98134
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US90-1516634
For Sale
1 / 8
$5,449,950
3228 1St Ave S, Seattle, WA 98134
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1937
Construction
WOOD
Total area
20,975 SF
Lot
0.32 ac (14,100 SF)
Zoning code
IG2 U/85
APN
766620-5945
UPID
US90-1516634
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
$4.26M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.24M
Owner & transaction history
Aces Four LLC · 18 yrs held
Aces Four LLC
since 2007
7 recorded transactions
Zoning & alternative use
IG2 U/85 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$4,615,000
6.5%
$4,260,000
7%
$3,955,000
Blend value · Realmo final
$3.24M
Range $2.92M – $3.56M · ±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
$154 / 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
$32,177
Tax year 2022
Assessed value
$3,634,000
Assessed 2022
Previous assessed
$3,634,000
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$1,692,000
Assessed improvement
$1,942,000
Land market value
$1,692,000
Improvement market value
$1,942,000
Total market value
$3,634,000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1937
Construction
WOOD
Heating
SPACE
Stories
2
Total area
20,975 SF
Lot
0.32 ac (14,100 SF)
Zoning code
IG2 U/85
APN
766620-5945
UPID
US90-1516634
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/85 · Seattle, WA
Zoning IG2 U/85 · permitted uses
IG2 U/85 · 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.
Building & site characteristics
From public records
Year built
1937
Construction
WOOD
Heating
SPACE
Stories
2
Lot
0.32 ac
Current owner
From public records · entity-resolved
Aces Four LLC
Entity
Mailing address
14737 NE 87TH ST, REDMOND, WA 98052-6500
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2024
—
Aces Four LLC
—
Deed
related
$955,000 · Telco Community Cu
Aug 1, 2007
$2,200,000
Aces Four LLC
Ace Building LLC
Warranty Deed
$1,650,000 · Homestreet Bank
Jun 4, 2003
—
Ace Building LLC
Bennett,john A & Dahli
Quit Claim Deed
related
—
Oct 17, 1997
$400,000
John Bennett
Lewis,janice I
Grant Deed
$400,000 · National Bank Tukwila
—
—
Aces Four LLC
—
Deed Of Trust
related
$1,550,000 · Bank Of Wa
—
—
John A Bennett
—
Deed Of Trust
related
$687,852 · Evergreenbank
—
—
Ace Building LLC
—
Deed Of Trust
related
$252,880 · Evergreenbank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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