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

    501 3rd Ave Seattle, WA 98104-2304

    • Assisted living facilities
    • 159,840 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Apr 19, 2023
    $1,059,000
    Value Estimations
    $1,060,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0097910
    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

    • Yellow Butterfly Coffee shop / Coffee Shop

    Property Details for 501 3rd Ave

    Year built
    1908
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.46 lot acres
    Property size
    159,840 SF
    Zone code
    PSM 100/100-120
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    093900-0040
    APU
    939000040

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,060,000
      ML approach
      $1,170,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.331
    Latitude
    47.6022
    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
    $8,797
    $240,600
    $377,300
    $617,900
    -
    $240,600
    $377,300
    $617,900

    Comparable in this City

    • Value Estimation by Request
      29,820 SF

      318 2nd Ave S Ext

      HOMES (RETIRED, NURSING) • 29,820 SF
      318 2nd Ave S Ext, Seattle, WA 98104-2604
      View Details
    • Value Estimation
      $250,000
      0.09 Acres

      Seattle, WA 98104

      HOMES (RETIRED, NURSING) • 0.09 Acres
      Seattle, WA 98104
      View Details
    • Value Estimation
      $415,000
      15,120 SF

      703 8th Ave

      HOMES (RETIRED, NURSING) • 15,120 SF
      703 8th Ave, Seattle, WA 98104-1923
      View Details
    • Value Estimation
      $345,000
      0.18 Acres

      725 9th Ave

      HOMES (RETIRED, NURSING) • 0.18 Acres
      725 9th Ave, Seattle, WA 98104-2051
      View Details
    • Value Estimation
      $420,000
      0.53 Acres

      715 9th Ave

      HOMES (RETIRED, NURSING) • 0.53 Acres
      715 9th Ave, Seattle, WA 98104-2066
      View Details
    • Value Estimation by Request
      18,010 SF

      301 1st S Ave

      HOMES (RETIRED, NURSING) • 18,010 SF
      301 1st S Ave, Seattle, WA 98104-2505
      View Details

    Similar Nearby for Sale

    • $1,750,000
      2,352 SF

      Seattle Medical Office Condo

      Prime Seattle location, move-in ready.
      1229 Madison St, Seattle, WA 98104
      View Details
    • $1,750,000
      2,352 SF

      Medical Condo in Seattle's District

      Move-in ready medical office in Seattle's medical district.
      1229 Madison St, Seattle, WA 98104
      View Details
    • $1,395,000
      1,460 SF

      Penthouse with Elliott Bay Views

      Two-story penthouse featuring exposed brick, timbered ceilings, and panoramic views.
      97 S Jackson St, Seattle, WA 98104
      View Details
    • $410,000

      Modern High-Rise Living in Seattle

      Modern high-rise apartments in Seattle's historic First Hill neighborhood.
      800 Columbia St, Seattle, WA 98104
      View Details
    • $380,000

      Seattle Retail Market - Turnkey Business

      Established Market, High-Traffic Location, Immediate Income
      625 Jackson St, Seattle, WA 98104
      View Details
    • $435,000

      Modern High-Rise Living in Seattle

      Modern high-rise living in Seattle's historic First Hill neighborhood.
      800 Columbia St, Seattle, WA 98104
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      4,119 SF

      Seattle Pioneer Square Retail Spaces

      Prime retail, two suites available, flexible space.
      313 1St Ave, Seattle, WA 98104
      View Details
    • $29 SF/Yr
      19,014 SF

      Travelers Building: Seattle Office Space

      Prime Seattle Office & Retail, Multiple Spaces Available
      80 Yesler Way, Seattle, WA 98104
      View Details
    • $1.00 SF/Yr
      11,320 SF

      Seattle Warehouse with Freight Elevator

      Warehouse space featuring a freight elevator, loading dock, and refrigeration.
      800 S Weller St, Seattle, WA 98104
      View Details
    • $25 SF/Yr
      3,482 SF

      Former Gym Space with Water View

      Former gym space with high ceilings and water view.
      2801 Western Ave, Seattle, WA 98104
      View Details
    • $36 SF/Yr
      12,791 SF

      Waterfront Office Space Available

      Top floor office space with waterfront view for rent.
      619 Western Ave, Seattle, WA 98104
      View Details
    • Contact for pricing
      3,550 SF

      Restaurant/Retail Space in Seattle

      3,550 SF restaurant/retail space in high-traffic Seattle location.
      1401 E Madison St, Seattle, WA 98104
      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.
    501 3rd Ave
    Seattle, WA 98104-2304
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.