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Property profile & analytics
OFF-MARKET
Estimated value
$4,900,000
Community centers
3820 Rainier S Ave Seattle, WA 98118-1159
Entity Owned
8-yr Hold
Free & Clear
Property ID
US90-1698863
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
103,255 SF
Lot
7.88 ac (343,258 SF)
Zoning code
C2-75 (M)
APN
983420-1515
UPID
US90-1698863
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
-
Ross Dress for Less Department Store Men'S Clothing Store
-
Safeway Liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Kaity Pak Physician
-
Express Roofing Services - Re Roof - New Roof – Roofer Roofing Company General Contractor
-
Coinstar Kiosk - Bitcoin ATM Atm Currency Exchange Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.90M
Owner & transaction history
City Of Seattle · 8 yrs held
City Of Seattle
since 2018
4 recorded transactions
Zoning & alternative use
C2-75 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to promote general commercial activities, to provide for an auto-oriented, primarily non-retail commercial area that provides a wide range of commercial activities serving a community, citywide, or regional function, including uses such as manufacturing and warehousing that are less appropriate in more-retail-oriented commercia…
Zone name
Commercial Mandatory Housing Affordability
General category
INDUSTRIAL
Zone area
208.39 ac
Source
Realmo
Top alternative use upside
Medical building
$8.0M
+25.5%
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
NEIGHBORHOOD: SHOPPING CENTER
$6,365,000
Current use
MEDICAL BUILDING
$7,990,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$4.90M
Range $4.41M – $5.39M · ±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
$47 / 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
$403,154
Tax year 2022
Assessed value
$41,695,000
Assessed 2022
Previous assessed
$41,695,000
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$41,694,000
Assessed improvement
$1,000
Land market value
$41,694,000
Improvement market value
$1,000
Total market value
$41,695,000
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Buildings
3
Stories
1
Total area
103,255 SF
Lot
7.88 ac (343,258 SF)
Zoning code
C2-75 (M)
APN
983420-1515
UPID
US90-1698863
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C2-75 (M) · Seattle, WAZoning C2-75 (M) · permitted uses
C2-75 (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 general commercial activities, to provide for an auto-oriented, primarily non-retail commercial area that provides a wide range of commercial activities serving a community, citywide, or regional function, including uses such as manufacturing and warehousing that are less appropriate in more-retail-oriented commercial areas. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Commercial Mandatory Housing Affordability
General category
INDUSTRIAL
Zone area
208.39 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.4M
MEDICAL BUILDING
Est. value
$8.0M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Stories
1
Buildings
3
Lot
7.88 ac
Current owner
From public records · entity-resolved
City Of Seattle
Entity
Free & Clear · 8 yrs held
Mailing address
500 N BROADWAY STE #201, JERICHO, NY 11753-2122
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2018
—
City Of Seattle
Wri-urs Rainier Valley LLC
Grant Deed
—
Nov 21, 2006
$24,983,668
Wri-urs Rainier Valley LLC
Rainier Valley Square Ltd
Grant Deed
—
May 8, 1996
$15,815,000
Rainier Valley Square Ltd LP
Rainier LP
Grant Deed
related
$11,175,000 · Nationwide Life Insurance Co
—
—
Beauty Supply Best
—
Deed Of Trust
related
$41,028 · City 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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