Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Medical Office Space
3324 Rainier S Ave Seattle, WA 98144-6034
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-2768639
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2011
Construction
WOOD
Total area
2,592 SF
Lot
0.12 ac (5,310 SF)
Zoning code
NC3-75 (M)
APN
128230-0840
UPID
US90-2768639
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
-
Optometry Medical Group - Rainier Eye Care Center
-
Huy Hoang Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$575k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$525k
Owner & transaction history
Omg Properties LLC · 6 yrs held
Omg Properties LLC
since 2020
7 recorded transactions
Zoning & alternative use
NC3-75 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping district that serves the surrounding neighborhood and a larger community, citywide, or regional clientele; that provides comparison shopping for a wide range of retail goods and services; that incorporates offices, business supp…
Zone name
Neighborhood Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
298.58 ac
Source
Realmo
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%
$620,000
6.5%
$575,000
7%
$530,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$765,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$203 / 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
$8,194
Tax year 2022
Assessed value
$903,700
Assessed 2022
Previous assessed
$903,700
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$902,700
Assessed improvement
$1,000
Land market value
$902,700
Improvement market value
$1,000
Total market value
$903,700
Applied tax rate
13.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2011
Construction
WOOD
Heating
FORCED AIR
Stories
1
Bathrooms
2
Total area
2,592 SF
Lot
0.12 ac (5,310 SF)
Zoning code
NC3-75 (M)
APN
128230-0840
UPID
US90-2768639
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3-75 (M) · Seattle, WAZoning NC3-75 (M) · permitted uses
NC3-75 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping district that serves the surrounding neighborhood and a larger community, citywide, or regional clientele; that provides comparison shopping for a wide range of retail goods and services; that incorporates offices, business support services, and residences that are compatible with the retail character of the area. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Neighborhood Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
298.58 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$765,000
WAREHOUSE, STORAGE
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
WOOD
Heating
FORCED AIR
Stories
1
Bathrooms
2
Lot
0.12 ac
Current owner
From public records · entity-resolved
Omg Properties LLC
Entity
Mailing address
3324 RAINIER AVE S, SEATTLE, WA 98144-6034
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2020
—
Omg Properties LLC
Huy L Hoang
Quit Claim Deed
related
—
Jan 21, 2020
—
Hoang H Le
Et Investment Group LLC
Quit Claim Deed
related
—
Aug 19, 2008
—
City Of Seattle
Et Investment Grp LLC
Grant Deed
—
Jun 3, 2008
—
Et Inv Group LLC
Hoang,huy L & Michele T
Quit Claim Deed
related
—
Jan 10, 2008
—
Et Investment Group LLC
Hoang,huy L
Quit Claim Deed
related
—
Oct 31, 2006
$525,000
Huy L Hoang
Tymas-mcallister,charlotte L
Warranty Deed
$367,500 · Cathay Bank
—
—
Charlotte L Tymas-mcallister
—
Deed Of Trust
related
$74,000 · Ge Capital Mortgage Service
—
—
Charlotte Tymas
—
Deed Of Trust
related
$50,000 · Money Store Washington INC
—
—
Charlote Tymas-mcallister
—
Deed Of Trust
related
$30,000 · First Suburban Corp Mtg Banker
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3324 Rainier S Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
