Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$16,375,000
Office buildings
500 39th St Renton, WA 98057-4915
Entity Owned
~
Est. High Equity
Property ID
US90-0398823
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Construction
CONCRETE
Total area
59,224 SF
Lot
17.99 ac (783,617 SF)
Zoning code
IL
APN
125381-0020
UPID
US90-0398823
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
$17.06M
Comparable Approach
Comparable
$20.32M
Blend (final)
Blend
$16.38M
Owner & transaction history
Rss Dbgs2018 C1 Wa Rop LLC
Rss Dbgs2018 C1 Wa Rop LLC
since 2026
7 recorded transactions
Zoning & alternative use
IL · Renton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$24.4M
+70.4%
Retail stores
$23.8M
+66.1%
Apartment house (5+ units)
$21.0M
+46.9%
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 Renton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Renton 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%
$18,485,000
6.5%
$17,060,000
7%
$15,845,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$14,300,000
Current use
AUTO REPAIR, GARAGE
$24,365,000
Change: +70% · Conversion: Difficult
RETAIL STORES
$23,750,000
Change: +66% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$21,005,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$20,365,000
Change: +42% · Conversion: Easy
WAREHOUSE, STORAGE
$17,495,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$16.38M
Range $14.74M – $18.01M · ±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
$276 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$360,449
Tax year 2023
Assessed value
$30,837,100
Assessed 2023
Effective rate
1.17%
On assessed value
Assessed land
$8,164,600
Assessed improvement
$22,672,500
Land market value
$8,164,600
Improvement market value
$22,672,500
Total market value
$30,837,100
Applied tax rate
2,100.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1986
Construction
CONCRETE
Heating
HEAT PUMP
Buildings
4
Stories
2
Total area
59,224 SF
Lot
17.99 ac (783,617 SF)
Zoning code
IL
APN
125381-0020
UPID
US90-0398823
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IL · Renton, WA
Zoning IL · permitted uses
IL · Renton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Renton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$14.3M
AUTO REPAIR, GARAGE
Est. value
$24.4M
RETAIL STORES
Est. value
$23.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$21.0M
MEDICAL BUILDING
Est. value
$20.4M
WAREHOUSE, STORAGE
Est. value
$17.5M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Construction
CONCRETE
Heating
HEAT PUMP
Stories
2
Buildings
4
Lot
17.99 ac
Current owner
From public records · entity-resolved
Rss Dbgs2018 C1 Wa Rop LLC
Entity
Mailing address
9595 WILSHIRE BLVD STE #711, BEVERLY HILLS, CA 90212-2514
Ownership since
2026
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
Mar 4, 2026
$30,919,000
Rss Dbgs2018 C1 Wa Rop LLC
Renton Office Park LLC
Trust Deed
related
—
Oct 1, 2018
—
Renton Office Park LLC
—
Deed
related
$56,000,000 · Deutsche Bk Ag
Dec 19, 2016
$54,500,000
Renton Office Park LLC
Lba Realty Fund II-co IV LLC
Grant Deed
$54,000,000 · Miscellaneous Ins Co
May 5, 2006
—
Lba Realty Fund II-co IV LLC
Bedford Property Investors INC
Grant Deed
$150,000,000 · Pacific Life Insurance Co
Apr 30, 1998
—
Bedford Property Investors INC
—
Deed Of Trust
related
$175,000,000 · Bank Of America
Jul 10, 1997
$32,165,745
Bedford Property Investors INC
Sabey,david A & Sandra L
Grant Deed
—
Dec 30, 1993
$13,966,210
David A Sabey
Glacier Park Ori
Grant Deed
—
—
—
Bedford Properties Investors
—
Deed Of Trust
related
$18,000,000 · Washington Mutual Fsb
—
—
Renton Office Park LLC
—
Deed Of Trust
related
$56,000,000 · Deutsche Bk Ag
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?”
You own 500 39th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
