Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    500 Boren N Ave Seattle, WA 98109-5501
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    500 Boren N Ave Seattle, WA 98109-5501

    View on Map
    • Office buildings
    • 271,071 SF
    • 1.13 lot acres
    Off-Market
    Property ID
    US90-1134606
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $4,955,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Roll Pod Food Truck / Restaurant
    • Amazon Locker - Tembo / Postal Service / Courier Service
    • Amazon - Fiona / Corporate Office
    • Victrola Coffee Roasters / Cafe & Coffee Shop
    • SP+ Parking / Parking Lot & Garage

    Property Details for 500 Boren N Ave

    Year built
    2009
    Construction
    CONCRETE
    Lot size
    1.13 lot acres
    Property size
    271,071 SF
    Zone code
    SM-SLU 175/85-280
    Property type
    Office buildings
    APN
    198320-0585
    APU
    1983200585

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.335
    Latitude
    47.6239
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $900,881
    $38,128,400
    $71,689,600
    $109,818,000
    -
    $38,128,400
    $71,689,600
    $109,818,000

    Comparable in this City

    • Value Estimation by Request
      1.28 Acres

      535 Westlake N Ave

      OFFICE BUILDING • 1.28 Acres
      535 Westlake N Ave, Seattle, WA 98109-4304
      View Details
    • Value Estimation
      $9,805,000
      34,639 SF

      901 Fairview N Ave

      OFFICE BUILDING • 34,639 SF
      901 Fairview N Ave, Seattle, WA 98109-4453
      View Details
    • Value Estimation
      $2,150,000
      9,480 SF

      318 Fairview N Ave

      OFFICE BUILDING • 9,480 SF
      318 Fairview N Ave, Seattle, WA 98109-5313
      View Details
    • Value Estimation
      $5,740,000
      26,519 SF

      1001 Fairview N Ave

      OFFICE BUILDING • 26,519 SF
      1001 Fairview N Ave, Seattle, WA 98109-4438
      View Details
    • Value Estimation
      $1,530,000
      7,040 SF

      300 Dexter N Ave

      OFFICE BUILDING • 7,040 SF
      300 Dexter N Ave, Seattle, WA 98109-5106
      View Details
    • Value Estimation
      $10,900,000
      80,019 SF

      400 Mercer St

      OFFICE BUILDING • 80,019 SF
      400 Mercer St, Seattle, WA 98109-4650
      View Details

    Similar Nearby for Sale

    • $5,300,000
      8,888 SF

      Seattle Office Building For Sale

      Office building with 8888 square feet of space.
      1721 8Th Ave North, Seattle, WA 98109
      View Details
    • Contact for pricing
      41,191 SF

      Class A Office Building Seattle

      New six-story office building in Seattle's South Lake Union.
      760 Aloha St, Seattle, WA 98109
      View Details
    • $2,550,000

      Queen Anne Commercial District Opportunity

      Four-story Class A office and music production studio for sale.
      2214 Queen Anne Ave N, Seattle, WA 98109
      View Details
    • Contact for pricing
      6,098 SF

      Retrofitted Flex Space Near Seattle

      Functional flex space with industrial feel, convenient Seattle access.
      2741 4Th Ave S, Seattle, WA 98109
      View Details
    • Contact for pricing
      23,659 SF

      Queen Anne Mixed-Use Investment

      Mixed-use property in Seattle's Queen Anne neighborhood.
      116 Warren Ave N, Seattle, WA 98109
      View Details
    • Contact for pricing

      Lake Union Office/Flex Opportunity

      Standalone office/flex space with gym, storage, and secure parking.
      921 Aurora Ave N, Seattle, WA 98109
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,895 SF

      Office and Lab Space Available

      Office and lab space available for rent in Seattle.
      219 Terry Ave N, Seattle, WA 98109
      View Details
    • Contact for pricing
      10,402 SF

      Fremont Cut Waterfront Office Campus

      Three-building campus with renovated amenities and canal views.
      4 W Nickerson St, Seattle, WA 98109
      View Details
    • Contact for pricing
      197,919 SF

      Class A Research Facility

      197,919 RSF Class A life science facility for rent.
      222 5Th Ave North, Seattle, WA 98109
      View Details
    • Contact for pricing
      8,255 SF

      Seattle Office Space Available Now

      Office space featuring private offices, conference rooms, and open area.
      1633 Westlake Ave N, Seattle, WA 98109
      View Details
    • Contact for pricing

      Seattle Office Space For Rent

      Office space available for lease in Seattle, Washington.
      426 Yale Ave North, Seattle, WA 98109
      View Details
    • Contact for pricing
      6,480 SF

      Belltown Office or Retail Space

      Unique brick and beam structure with high ceilings in Belltown.
      2233-2235 5Th Ave, Seattle, WA 98109
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    500 Boren N Ave
    Seattle, WA 98109-5501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!