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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office buildings
338 85th St, Seattle, WA 98117-3120
Entity Owned
24-yr Hold
~
Est. High Equity
Property ID
US90-0197590
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Construction
WOOD
Total area
2,436 SF
Lot
0.11 ac (4,700 SF)
Zoning code
NC2-55 (M)
APN
094500-0630
UPID
US90-0197590
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
-
Interconnections Healing Center, PLLC Medical Clinic
-
Interconnections Healing Center Crisis Center Medical Clinic
-
Heather Thomson Physician Medical Clinic
-
Dr. Justin Lerner Foster Care Service Social Service Agency
-
Gloria Huh Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$700k
Comparable Approach
Comparable
$344k
Blend (final)
Blend
$565k
Owner & transaction history
Miles Ahead Investment LLC · 24 yrs held
Miles Ahead Investment LLC
since 2002
5 recorded transactions
Zoning & alternative use
NC2-55 (M) · 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%
$760,000
6.5%
$700,000
7%
$650,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$860,000
Current use
MEDICAL BUILDING
$840,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$720,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$232 / 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
$9,688
Tax year 2022
Assessed value
$1,082,000
Assessed 2022
Previous assessed
$1,082,000
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$1,081,000
Assessed improvement
$1,000
Land market value
$1,081,000
Improvement market value
$1,000
Total market value
$1,082,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1920
Construction
WOOD
Heating
ELECTRIC
Cooling
CENTRAL
Stories
2
Total area
2,436 SF
Lot
0.11 ac (4,700 SF)
Zoning code
NC2-55 (M)
APN
094500-0630
UPID
US90-0197590
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2-55 (M) · Seattle, WA
Zoning NC2-55 (M) · permitted uses
NC2-55 (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
OFFICE BUILDING Current
Est. value
$860,000
MEDICAL BUILDING
Est. value
$840,000
WAREHOUSE, STORAGE
Est. value
$720,000
OFFICE BUILDING Current
MEDICAL BUILDING
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
1920
Construction
WOOD
Heating
ELECTRIC
Cooling
Yes
Stories
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Miles Ahead Investment LLC
Entity
Mailing address
18017 69TH PL W, EDMONDS, WA 98026-5609
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2002
$300,000
Miles Ahead Investment LLC
Capital Management Group
Grant Deed
$240,000 · Northwest International Bank
Aug 21, 2001
$150,100
Capital Management Group
Hammond,tod A
Trustees Deed
related
—
Feb 4, 1998
$165,000
Tod A Hammond
Shellenberger,david S
Grant Deed
$123,750 · Washington Mutual Fsb
Jun 2, 1992
$415,000
David S Shellenberger
Hunstad
Grant Deed
$261,400 · Individual
—
—
Miles Ahead Investments LLC
—
Deed Of Trust
related
$500,000 · Ironstone Bank
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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