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Property profile & analytics
OFF-MARKET
Estimated value
$27,840,000
Outlet malls
4141 4th S Ave Seattle, WA 98134
Entity Owned
24-yr Hold
Free & Clear
Property ID
US90-1566396
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2005
Construction
STEEL FRAME
Total area
158,415 SF
Lot
14.66 ac (638,533 SF)
Zoning code
IG1 U/85
APN
261765-0020
UPID
US90-1566396
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
$36.34M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$27.84M
Owner & transaction history
Costco Wholesale Corp · 24 yrs held
Costco Wholesale Corp
since 2002
2 recorded transactions
Zoning & alternative use
IG1 U/85 · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$39,370,000
6.5%
$36,340,000
7%
$33,745,000
Blend value · Realmo final
$27.84M
Range $25.06M – $30.62M · ±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
$176 / 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
$335,352
Tax year 2022
Assessed value
$31,382,920
Assessed 2022
Previous assessed
$31,382,920
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$28,733,900
Assessed improvement
$2,649,020
Land market value
$28,733,900
Improvement market value
$2,649,020
Total market value
$31,382,920
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2005
Construction
STEEL FRAME
Heating
SPACE
Buildings
2
Stories
1
Total area
158,415 SF
Lot
14.66 ac (638,533 SF)
Zoning code
IG1 U/85
APN
261765-0020
UPID
US90-1566396
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG1 U/85 · Seattle, WA
Zoning IG1 U/85 · permitted uses
IG1 U/85 · 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
2005
Construction
STEEL FRAME
Heating
SPACE
Stories
1
Buildings
2
Lot
14.66 ac
Current owner
From public records · entity-resolved
Costco Wholesale Corp
Entity
Free & Clear · 24 yrs held
Mailing address
999 LK DR, ISSAQUAH, WA 98027-8990
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2002
$12,000,000
Costco Wholesale Corp
Seattle School District #1
Grant Deed
—
Sep 14, 1988
—
Seattle School District
Ford Motor Compa
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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