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Property profile & analytics
FOR LEASE
Office buildings
401 2Nd Ave S, Seattle, WA 98104
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-0718753
No photos on file
For Lease
$8,900/Mo
401 2Nd Ave S, Seattle, WA 98104
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
24,770 SF
Lot
0.33 ac (14,400 SF)
Zoning code
SM-UP 85 (M)
APN
198920-0670
UPID
US90-0718753
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
-
KMM Strategies Business Management Consultant
-
Yapta, Inc. Travel Agency
-
Northwest Justice Project Law Firm
-
Europa Events Wedding Service
-
SOCOTEC Consultant Engineering Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.80M
Owner & transaction history
Second Avenue Development LLC · 3 yrs held
Second Avenue Development LLC
since 2022
3 recorded transactions
Zoning & alternative use
SM-UP 85 (M) · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$153 / 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
$61,194
Tax year 2022
Assessed value
$7,201,000
Assessed 2022
Previous assessed
$7,201,000
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$7,200,000
Assessed improvement
$1,000
Land market value
$7,200,000
Improvement market value
$1,000
Total market value
$7,201,000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
OTHER
Stories
3
Total area
24,770 SF
Lot
0.33 ac (14,400 SF)
Zoning code
SM-UP 85 (M)
APN
198920-0670
UPID
US90-0718753
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SM-UP 85 (M) · Seattle, WA
Zoning SM-UP 85 (M) · permitted uses
SM-UP 85 (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.
Building & site characteristics
From public records
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
OTHER
Cooling
Yes
Stories
3
Lot
0.33 ac
Current owner
From public records · entity-resolved
Second Avenue Development LLC
Entity
Free & Clear · 3 yrs held
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2022
—
Second Avenue Development LLC
Rajnikant R Shah
Warranty Deed
—
Jul 1, 2020
—
Ic USA No 8 Property Ptshp
Ic USA No 8 Property LP
Quitclaim Deed
related
—
Aug 2, 2018
—
State Of Washington Dept Of Trust
Ic USA No 8 Property Ptshp
Grant Deed
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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