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Property profile & analytics
FOR LEASE
Retail space
4517 University Way NE Seattle, WA 98105
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US90-1160869
For Lease
$6,184/Mo
4517 University Way NE, Seattle, WA 98105
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1928
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,760 SF
Lot
0.15 ac (6,695 SF)
Zoning code
NC3P-65
APN
881640-1120
UPID
US90-1160869
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
-
Deep Roots Tattoo and Body Piercing Seattle Tattoo & Piercing Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.56M
Owner & transaction history
Cairns Investments LLC · 22 yrs held
Cairns Investments LLC
since 2003
5 recorded transactions
Zoning & alternative use
NC3P-65 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping district that serves the surrounding neighborhood and a larger community, citywide, or regional clientele; that provides comparison shopping for a wide range of retail goods and services; that incorporates offices, business supp…
Zone name
Neighborhood Commercial Pedestrian
General category
COMMERCIAL
Zone area
31.74 ac
Source
Realmo
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
$123 / 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
$41,490
Tax year 2022
Assessed value
$4,952,800
Assessed 2022
Previous assessed
$4,952,800
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$2,678,000
Assessed improvement
$2,274,800
Land market value
$2,678,000
Improvement market value
$2,274,800
Total market value
$4,952,800
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1928
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
2
Total area
20,760 SF
Lot
0.15 ac (6,695 SF)
Zoning code
NC3P-65
APN
881640-1120
UPID
US90-1160869
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3P-65 · Seattle, WAZoning NC3P-65 · permitted uses
NC3P-65 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping district that serves the surrounding neighborhood and a larger community, citywide, or regional clientele; that provides comparison shopping for a wide range of retail goods and services; that incorporates offices, business support services, and residences that are compatible with the retail character of the area. The Pedestrian designation is to preserve or encourage an intensely retail and pedestrian-oriented shopping district where non-auto modes of transportation to and within the district are strongly favored.
Zone name
Neighborhood Commercial Pedestrian
General category
COMMERCIAL
Zone area
31.74 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1928
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
2
Lot
0.15 ac
Current owner
From public records · entity-resolved
Cairns Investments LLC
Entity
Mailing address
2100 124TH AVE NE STE #100, BELLEVUE, WA 98005-1934
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2017
—
Cairns Investments LLC
—
Deed
related
—
Dec 27, 2016
—
Cairns Investments LLC
—
Deed
related
$1,420,000 · Peoples Bank
Oct 23, 2003
$1,450,000
Cairns Investments LLC
Esther K Anderson Family LP 1
Grant Deed
$792,000 · Evertrust Bank
—
—
Cairns Investments LLC
—
Loan Modification
related
—
—
—
Kalberg Building LLC
—
Deed Of Trust
related
$792,000 · Grant Osberg
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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