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Property profile & analytics
OFF-MARKET
Estimated value
$37,510,000
Distribution properties
3900 Norfolk St Seattle, WA 98118
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-2066872
Property profile
Verified
Property type
Distribution properties
Use group
BUS TERMINAL
Lot
6.87 ac (299,371 SF)
Zoning code
IG2 U/65
APN
810190-0525
UPID
US90-2066872
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
$37.51M
Owner & transaction history
Cref3 Norfolk Street Owner LLC · 4 yrs held
Cref3 Norfolk Street Owner LLC
since 2022
Last sale
$40.0M
7 recorded transactions
Zoning & alternative use
IG2 U/65 · Seattle, WA
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
$32,505,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$37.51M
Range $33.76M – $41.26M · ±10% · vs last sale $40.02M (Apr 8 2022)
Last sale anchor
$40.02M
Apr 8 2022
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
—
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
$84,343
Tax year 2022
Assessed value
$4,565,400
Assessed 2022
Previous assessed
$4,565,400
+0.0% YoY
Effective rate
1.85%
On assessed value
Assessed land
$4,565,400
Land market value
$4,565,400
Total market value
$4,565,400
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
Distribution properties
Use group
BUS TERMINAL
Status
Off-Market
Heating
NONE
Lot
6.87 ac (299,371 SF)
Zoning code
IG2 U/65
APN
810190-0525
UPID
US90-2066872
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WAZoning 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
Source
Municipal Code
Building & site characteristics
From public records
Heating
NONE
Lot
6.87 ac
Current owner
From public records · entity-resolved
Cref3 Norfolk Street Owner LLC
Entity
Mailing address
5221 N O CONNOR BLVD STE #700, IRVING, TX 75039-4428
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2022
$40,015,000
Cref3 Norfolk Street Owner LLC
Champion Properties LLC
Bargain And Sale Deed
$400,000,000 · Deutsche Bank
Feb 18, 2021
—
Champion Properties LLC
—
Deed
related
$10,000 · Columbia State Bank
May 21, 2018
—
Champion Properties LLC
—
Loan Modification
related
$6,316,933 · Columbia St Bk
Apr 12, 2018
—
Champion Properties LLC
—
Grant Deed
related
$6,316,933 · Columbia St Bk
Feb 28, 2018
—
Champion Properties LLC
—
Grant Deed
related
$5,166,000 · Evergreen Busn Cap
Nov 17, 2017
$12,500,000
Champion Properties LLC
Generla Warehouse & Storage INC
Warranty Deed
$11,370,479 · Columbia State Bank
Jan 8, 2002
—
Warehousing General
Nelson Trucking Co INC
Quit Claim Deed
related
—
Mar 16, 1998
$200,000
Developers Antovich
Nelson Trucking Co
Grant Deed
$1,011,680 · Washington First Int'l Bank
May 13, 1994
—
Nelson Trucking Co INC
Reliable Propert
Quit Claim Deed
related
—
Mar 22, 1991
$1,150,000
Properties Il P Reliable
Petropoulos,cons
Grant Deed
$1,035,000 · Company Misc
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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