Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3443 1st S Ave Seattle, WA 98134-1804

    • Office buildings
    • 1,120 SF
    • 1.58 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    7.9%
    Office buildings
    Location Intelligence
    Property ID
    US90-2298823
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Penske Truck Rental / Truck Rental Agency / Moving Supply Store
    • Prologis / Investment Company

    Property Details for 3443 1st S Ave

    Year built
    1967
    Construction
    WOOD
    Lot size
    1.58 lot acres
    Property size
    1,120 SF
    Zone code
    IG1 U/85
    Property type
    Office buildings
    APN
    766620-7491
    APU
    7666207491

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $350,000
      6.5%
      $325,000
      7%
      $300,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $170,000
      Market price range: $24.1k - $170k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $395,000
      Current use
      MEDICAL BUILDING
      $385,000
      Change: -3% Conversion: Easy
      WAREHOUSE, STORAGE
      $325,000
      Change: -17% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.335
    Latitude
    47.5721
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $51,962
    $4,805,200
    $1,000
    $4,806,200
    -
    $4,805,200
    $1,000
    $4,806,200

    Comparable in this City

    • Value Estimation
      $305,000
      14,272 SF

      1556 1st S Ave

      OFFICE BUILDING • 14,272 SF
      1556 1st S Ave, Seattle, WA 98134
      View Details
    • Value Estimation
      $320,000
      2,665 SF

      1720 4th S Ave

      OFFICE BUILDING • 2,665 SF
      1720 4th S Ave, Seattle, WA 98134-1502
      View Details
    • Value Estimation by Request
      424,367 SF

      4735 Marginal S Way

      OFFICE BUILDING • 424,367 SF
      4735 Marginal S Way, Seattle, WA 98134-2388
      View Details
    • Value Estimation
      $280,000
      6,000 SF

      3648 Marginal S Way

      OFFICE BUILDING • 6,000 SF
      3648 Marginal S Way, Seattle, WA 98134
      View Details
    • Value Estimation
      $200,000
      4,256 SF

      4580 Colorado S Ave

      OFFICE BUILDING • 4,256 SF
      4580 Colorado S Ave, Seattle, WA 98134-2314
      View Details
    • Value Estimation
      $400,000
      35,202 SF

      666 Dearborn St

      OFFICE BUILDING • 35,202 SF
      666 Dearborn St, Seattle, WA 98134-1328
      View Details

    Similar Nearby for Sale

    • $3,700,000
      12,342 SF

      Historic Building in Columbia City

      Two-story commercial building with basement in vibrant urban district.
      3722 S Hudson St, Seattle, WA 98134
      View Details
    • $1,890,000

      Visible SoDo Office Building

      Office building in SoDo with long-term tenants and free parking.
      3401 4Th Ave S, Seattle, WA 98134
      View Details
    • Contact for pricing
      10,370 SF

      Office Space with Skyline Views

      2,800 SF office space available with Seattle skyline views.
      2400 Airport Way S, Seattle, WA 98134
      View Details
    • Contact for pricing
      43,473 SF

      Georgetown Office Space For Sale

      Office suite in Seattle's Georgetown neighborhood with free parking.
      5030 1St Ave S, Seattle, WA 98134
      View Details
    • Contact for pricing
      99,047 SF

      Stadium Works: Seattle Industrial Gem

      Rare Seattle industrial; 99,047 SF, 3 bldgs
      1964 4Th Ave, Seattle, WA 98134
      View Details
    • $3,000,000
      4,500 SF

      Seattle Flex Space For Sale

      Flex space with easy access to SR-99 and Port.
      4745 West Marginal Way SW, Seattle, WA 98134
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      9,435 SF

      Seattle Industrial/Office Gem

      9,435 SF Single-Tenant Building
      420 Hinds St, Seattle, WA 98134
      View Details
    • $9 SF/Yr
      15,000 SF

      Prime Executive Office Space Available

      Downtown Retail/Office Suite - 4,812 SF
      2764 1St Ave, Seattle, WA 98134
      View Details
    • Contact for pricing
      27,164 SF

      Seattle Office Space For Rent

      Office space available for lease in Seattle.
      3201 1St Ave S, Seattle, WA 98134
      View Details
    • Contact for pricing
      2,954 SF

      High-Traffic Retail/Event Space Available

      Retail/event space with high ceilings and natural light for rent.
      3200-3220 1St Ave S, Seattle, WA 98134
      View Details
    • Contact for pricing
      45,666 SF

      SODO Creative Office/Industrial Space

      Creative office or industrial space in SODO with ample parking.
      5050 1St Ave S, Seattle, WA 98134
      View Details
    • $20 SF/Yr
      6,025 SF

      Seattle Office Space Available

      6,025 SF office space for rent in Seattle.
      624 S Dearborn St, Seattle, WA 98134
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3443 1st S Ave
    Seattle, WA 98134-1804
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.