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Property profile & analytics
OFF-MARKET
Estimated value
$1,120,000
Manufacturing properties
448 35th St, Seattle, WA 98103-8607
Entity Owned
1-yr Hold
Property ID
US90-0032464
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
750 SF
Lot
0.07 ac (3,000 SF)
Zoning code
IG2 U/65
APN
197220-3530
UPID
US90-0032464
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
$1.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.12M
Owner & transaction history
Fremont Dock Co · 1 yrs held
Fremont Dock Co
since 2024
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
IG2 U/65 · 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
$1,100,000
ML approach
$1,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.12M
Range $1.01M – $1.23M · ±10% · vs last sale $1.55M (Apr 10 2024)
Last sale anchor
$1.55M
Apr 10 2024
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
$1,493 / 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
$5,580
Tax year 2022
Assessed value
$624,200
Assessed 2022
Previous assessed
$624,200
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$525,000
Assessed improvement
$99,200
Land market value
$525,000
Improvement market value
$99,200
Total market value
$624,200
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Total area
750 SF
Lot
0.07 ac (3,000 SF)
Zoning code
IG2 U/65
APN
197220-3530
UPID
US90-0032464
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WA
Zoning 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
Seattle. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Lot
0.07 ac
Current owner
From public records · entity-resolved
Fremont Dock Co
Entity
Mailing address
5824 16TH AVE NE, SEATTLE, WA 98105-2517
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2024
$1,550,000
Fremont Dock Co
Beth A Struckhoff
Warranty Deed
—
May 24, 2023
—
Beth A Struckhoff
Beba LLC
Quit Claim Deed
related
$550,000 · Leader One Financial Corp
Jun 30, 2022
$1,100,000
Beba LLC
John S Hobgood
Warranty Deed
—
Mar 11, 2022
—
John S Hobgood
—
Deed
related
$41,838 · Move Forward Financial LLC
Oct 22, 2003
$60,000
John S Hobgood
Bismark Mortgage Co INC
Grant Deed
$65,000 · Thomas B & Mary J Hobgood
Sep 23, 2003
—
Bismark Mortgage Co INC
Owen,susan
Quit Claim Deed
related
—
Jun 7, 2001
$105,500
Susan Owen
Hobgood,john
Quit Claim Deed
related
—
Oct 15, 1997
$280,000
John S Hobgood
Vitez,lou & Kathy
Grant Deed
$245,000 · Seller
—
—
Susan Owen
—
Deed Of Trust
related
$11,000 · Bismark Mortgage Co INC
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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