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Property profile & analytics
FOR LEASE
Manufacturing properties
3400 Phinney Ave N, Seattle, WA 98103
Entity Owned
11-yr Hold
Free & Clear
Property ID
US90-1728479
For Lease
$3,480,000
3400 Phinney Ave N, Seattle, WA 98103
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1905
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
28,715 SF
Lot
0.73 ac (31,699 SF)
Zoning code
IG2 U/65
APN
197220-3225
UPID
US90-1728479
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
-
Nissan Key Replacement Seattle WA Auto Repair Shop Vehicle Inspection Center
-
Theo Chocolate Specialty Food Shop Candy Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.45M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.48M
Owner & transaction history
3400 Phinney Investors LLC · 11 yrs held
3400 Phinney Investors LLC
since 2015
7 recorded transactions
Zoning & alternative use
IG2 U/65 · 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%
$4,815,000
6.5%
$4,445,000
7%
$4,125,000
Blend value · Realmo final
$3.48M
Range $3.13M – $3.83M · ±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
$121 / 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
$53,832
Tax year 2022
Assessed value
$5,893,200
Assessed 2022
Previous assessed
$5,893,200
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$5,547,300
Assessed improvement
$345,900
Land market value
$5,547,300
Improvement market value
$345,900
Total market value
$5,893,200
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Lease
Year built
1905
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
1
Total area
28,715 SF
Lot
0.73 ac (31,699 SF)
Zoning code
IG2 U/65
APN
197220-3225
UPID
US90-1728479
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WA
Zoning IG2 U/65 · permitted uses
IG2 U/65 · 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
1905
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
1
Lot
0.73 ac
Current owner
From public records · entity-resolved
3400 Phinney Investors LLC
Entity
Free & Clear · 11 yrs held
Mailing address
3720 CARILLON PT, KIRKLAND, WA 98033-7455
Ownership since
2015
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
Jul 26, 2024
—
Fremont Dock Co
—
Deed
related
$3,000 · Minnesota Life Insurance Company
Oct 27, 2021
—
3400 Phinney Investors LLC
—
Deed
related
$2,600,000 · Wells Fargo Bank NA
Jul 8, 2015
$2,125,000
3400 Phinney Investors LLC
3400 Phinney LLC
Grant Deed
—
May 24, 1999
—
Fremont Dock Co
—
Deed Of Trust
related
$1,835,000 · Washington Mutual Fsb
—
—
Theo Chocolate INC
—
Deed Of Trust
related
$1,000,000 · West Olympic Investments
—
—
Theo Chocolates INC
—
Loan Modification
related
—
—
—
3400 Phinney LLC
—
Deed Of Trust
related
$1,360,000 · Northstar Bank
—
—
Theo Chocolate INC
—
Deed Of Trust
related
—
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?”
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