Financial
Distress signals
Property profile

4237 24Th Ave W Seattle, WA 98199

FOR LEASE
Manufacturing properties
Property ID
US90-1402613
12,347 SF 0.34 ac lot Built 1958
Last sale Mar 2004 · $1,475,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 22-yr Hold Held for 22 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

The Osterman Building is located in Seattle’s Interbay submarket and is configured for industrial, high-tech flex, and creative office uses. The property includes a 13,365-square-foot building with a warehouse area featuring approximately 24-foot clear height, loading capabilities designed for efficient freight movement, and on-site parking for employees or trucks. The building is zoned MML U/65, supporting a range of industrial and commercial uses.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$25k
Tax billed · 2022
Assessed value$2.70M
Assessed land$1.50M
Assessed improvement$1.20M
Effective rate0.92%

Value estimate

· Sep 2026
$1.46M
$1.31M – $1.60M
CAP approach$1.72M
NOI build-up
Gross scheduled income$182
Vacancy & credit loss−$14
Operating expenses−$50
NOI · 7,151.52% cap applied$118

Realmo valuation models over county records and 3 qualifying comparable sales.

Recently sold

What actually traded nearby?
$283/SF
Submarket average, outlier-cleaned · 83 recorded sales of this use type
Observed band · Q1–Q3$191 – $398
Qualifying comparables3

Cap rate analysis

How does the asset earn?
7,151.52%
$118 estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
IG2 U/65
JurisdictionKING

Location intelligence

Which uses thrive at this corner?
Best fit: Carpet & Flooring Store
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Carpet & Flooring Store9.0
Pet Grooming Service8.7
Laundry Service8.0

Location

4237 24Th Ave W Seattle, WA 98199
County assessor Recorded deeds · 7 transfers 3 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

4 recorded sales · 17 properties nearby
Recent sales nearby
4 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
2715 Ft St, Seattle, WA 98199-1224 $1,450,000 Oct 2024 No data
4411 23rd W, Seattle, WA 98199-1277 $2,450,000 Aug 2024 6,793 SF
3101 Commodore, Seattle, WA 98199-1159 $1,300,000 Sep 2021 5,967 SF
2421 Commodore, Seattle, WA 98199 $24,000,000 Dec 2020 62,300 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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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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