Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    500 Pne St Seattle, WA 98101-1744

    • Retail properties
    • 693,450 SF
    • 1.49 lot acres
    OFF-MARKET
    Last Sale
    Apr 19, 2023
    Value Estimations
    $6,110,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1746346
    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.

    Current Use by Public Records

    • CELINE SEATTLE NORDSTROM / Department Store / Clothing & Fashion Store
    • Reiss / Clothing Store
    • Café Nordstrom / Restaurant
    • Tonal at Downtown Seattle Nordstrom / Shopping Center & Mall
    • Gucci - Nordstrom Downtown Seattle / Clothing & Fashion Store

    Property Details for 500 Pne St

    Year built
    1925
    Construction
    CONCRETE
    Lot size
    1.49 lot acres
    Property size
    693,450 SF
    Zone code
    DRC 85-170
    Property type
    Retail properties
    APN
    065900-0070
    APU
    659000070

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.336
    Latitude
    47.6123
    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
    $654,561
    $56,672,000
    $22,445,800
    $79,117,800
    -
    $56,672,000
    $22,445,800
    $79,117,800

    Comparable in this City

    • Value Estimation by Request
      161,180 SF

      1901 4Th Ave

      Individual retail properties • 161,180 SF
      1901 4Th Ave, Seattle, WA 98101
      View Details
    • Value Estimation by Request
      22,493 SF

      1123 1St Ave

      Individual retail properties • 22,493 SF
      1123 1St Ave, Seattle, WA 98101
      View Details
    • Value Estimation by Request

      1520 4Th Ave

      Retail properties
      1520 4Th Ave, Seattle, WA 98101
      View Details
    • Value Estimation by Request
      747,747 SF

      1700 7Th Ave

      Restaurants • 747,747 SF
      1700 7Th Ave, Seattle, WA 98101
      View Details
    • Value Estimation by Request
      0.02 Acres

      Pike Pl

      HISTORICAL RETAIL • 0.02 Acres
      Pike Pl, Seattle, WA 98101
      View Details
    • Value Estimation by Request
      48,883 SF

      98 Union St

      Individual retail properties • 48,883 SF
      98 Union St, Seattle, WA 98101
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      274,070 SF

      Prime Retail Space in Seattle

      Located in the heart of Seattle's central business district.
      523 Union St, Seattle, WA 98101
      View Details
    • $998,000
      2,010 SF

      Seattle Commercial Condo Live/Work Space

      Commercial condo near Pike Place Market and Seattle's Waterfront.
      1512 Alaskan Way, Seattle, WA 98101
      View Details
    • $1,060,000

      Luxury High-Rise with Waterfront Views

      Premier Seattle high-rise with views, amenities, and parking.
      121 Stewart St, Seattle, WA 98101
      View Details
    • $874,000

      Downtown Seattle Residential Tower Home

      Northwest urban 1 bedroom home with spectacular views.
      300 Virginia St, Seattle, WA 98101
      View Details
    • $998,000

      Downtown Seattle Urban Home

      Residential tower with city views and luxury amenities.
      300 Virginia St, Seattle, WA 98101
      View Details
    • $682,000

      Downtown Seattle Residential Tower Home

      Northwest Urban 1 Bedroom Home with views of Elliot Bay.
      300 Virginia St, Seattle, WA 98101
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,720 SF

      Prime Seattle Retail Space

      8,720 SF Available, Multiple Units
      1411 4Th Ave, Seattle, WA 98101
      View Details
    • $90 SF/Yr
      1,298 SF

      Prime Retail Space Near Market

      Retail space across from Pike Place Market. Available now.
      102-110 Pike St, Seattle, WA 98101
      View Details
    • Contact for pricing

      Retail Space in Downtown Seattle

      Retail space available in Downtown Seattle on 3rd Avenue.
      Seattle, WA 98101
      View Details
    • Contact for pricing
      747,747 SF

      Seattle Executive Office Space

      Prime Seattle location, 5,952-7,198 sq ft available
      1700 7Th Ave, Seattle, WA 98101
      View Details
    • Contact for pricing
      2,127 SF

      Capitol Hill Retail Space Available

      Ground floor retail space in vibrant Capitol Hill neighborhood.
      1519 Minor Ave, Seattle, WA 98101
      View Details
    • $30 SF/Yr
      31,847 SF

      Turn-Key Restaurant Space Available

      Built-out restaurant space with top-end equipment in prime location.
      1191 2Nd Ave, Seattle, WA 98101
      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 Pne St
    Seattle, WA 98101-1744
    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.