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Property profile & analytics
OFF-MARKET
Estimated value
$5,350,000
Warehouses
3524 Stone N Way, Seattle, WA 98103-8924
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-1111610
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1920
Construction
WOOD
Total area
19,300 SF
Lot
0.78 ac (34,163 SF)
Zoning code
IC-65 (M)
APN
182504-9074
UPID
US90-1111610
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.35M
Owner & transaction history
Cornerstone 35 LLC · 4 yrs held
Cornerstone 35 LLC
since 2021
Last sale
$1,500
7 recorded transactions
Zoning & alternative use
IC-65 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.9M
+39.3%
Office building
$7.6M
+34.0%
Apartment house (5+ units)
$6.8M
+20.1%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,700,000
Current use
AUTO REPAIR, GARAGE
$7,940,000
Change: +39% · Conversion: Easy
OFFICE BUILDING
$7,640,000
Change: +34% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,845,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$6,635,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$5.35M
Range $4.82M – $5.89M · ±10% · vs last sale $2k (Dec 10 2021)
Last sale anchor
$2k
Dec 10 2021
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
$277 / 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
$89,668
Tax year 2022
Assessed value
$10,249,900
Assessed 2022
Previous assessed
$10,249,900
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$10,248,900
Assessed improvement
$1,000
Land market value
$10,248,900
Improvement market value
$1,000
Total market value
$10,249,900
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1920
Construction
WOOD
Heating
SPACE
Stories
1
Total area
19,300 SF
Lot
0.78 ac (34,163 SF)
Zoning code
IC-65 (M)
APN
182504-9074
UPID
US90-1111610
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IC-65 (M) · Seattle, WA
Zoning IC-65 (M) · permitted uses
IC-65 (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
WAREHOUSE, STORAGE Current
Est. value
$5.7M
AUTO REPAIR, GARAGE
Est. value
$7.9M
OFFICE BUILDING
Est. value
$7.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.8M
MEDICAL BUILDING
Est. value
$6.6M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
SPACE
Stories
1
Lot
0.78 ac
Current owner
From public records · entity-resolved
Cornerstone 35 LLC
Entity
Mailing address
401 N 36TH ST STE #201, SEATTLE, WA 98103-5679
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Nov 15, 2022
—
Cornerstone 35 LLC
—
Deed
related
$81,750,000 · Union Labor Life Insurance Company
Dec 10, 2021
$14,500,000
Cornerstone 35 LLC
Srm Fremont LLC
Bargain And Sale Deed
$8,725,000 · First Interstate Bank
Jul 15, 2020
—
Selkirk Ridge LLC
Srm Fremont LLC
Correction Deed
related
—
Jul 1, 2020
$5,533,000
Srm Fremont LLC
Abc Ents INC
Grant Deed
—
Jul 1, 2020
—
Selkirk Ridge LLC
Srm Fremont LLC
Grant Deed
—
Feb 20, 2018
—
Abc Ents INC
—
Deed
related
$1,500,000 · 35 Stone LLC
—
—
Abc Ents INC
—
Deed Of Trust
related
$1,500,000 · 35 Stone LLC
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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