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Property profile & analytics
FOR LEASE
Investment properties
422 1St Ave W Seattle, WA 98119
Entity Owned
28-yr Hold
~
Est. High Equity
Property ID
US90-0778019
No photos on file
For Lease
$3,395/Mo
422 1St Ave W, Seattle, WA 98119
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
37,720 SF
Lot
0.33 ac (14,400 SF)
Zoning code
SM-UP 85 (M)
APN
198920-1170
UPID
US90-0778019
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
-
First and Republican Building Apartment Building
-
Cornell & Associates Insurance Agency
-
Entreprov (Bike/Boat/Book/etc) Store Corporate Office
-
Music4Life Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.05M
Blend (final)
Blend
$5.20M
Owner & transaction history
First & Repulblic Assn LLC · 28 yrs held
First & Repulblic Assn LLC
since 1997
6 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
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
Blend value · Realmo final
$5.20M
Range $4.68M – $5.71M · ±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
$138 / 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
$167,925
Tax year 2022
Assessed value
$20,347,000
Assessed 2022
Previous assessed
$20,347,000
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$7,200,000
Assessed improvement
$13,147,000
Land market value
$7,200,000
Improvement market value
$13,147,000
Total market value
$20,347,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
6
Units
46
Total area
37,720 SF
Lot
0.33 ac (14,400 SF)
Zoning code
SM-UP 85 (M)
APN
198920-1170
UPID
US90-0778019
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
6
Units
46
Lot
0.33 ac
Current owner
From public records · entity-resolved
First & Repulblic Assn LLC
Entity
Mailing address
2703 NE 95TH ST, SEATTLE, WA 98115-2429
Ownership since
1997
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2021
—
First & Republican Associates LLC
—
Deed
related
$6,001,000 · Northmarq Capital Finance LLC
Jun 7, 2017
—
First & Republican Assocs LLC
—
Deed
related
$1,806,000 · Northmarq Cap Fin
Oct 29, 1997
—
First & Repulblic Assn LLC
Tseng,kwo H & Carol Y
Quit Claim Deed
related
—
—
—
First Republican Associates Ll
—
Deed Of Trust
related
$5,600,000 · Intervest-mortgage Investment
—
—
First & Republican Assoc LLC
—
Deed Of Trust
related
$5,400,000 · Gmac Commercial Mortgage Corp
—
—
First & Republican Assocs LLC
—
Deed Of Trust
related
$1,806,000 · Northmarq Cap Fin
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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