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Property profile & analytics
OFF-MARKET
Estimated value
$1,085,000
Assisted living facilities
501 3rd Ave Seattle, WA 98104-2304
Individually Owned
3-yr Hold
Free & Clear
Property ID
US90-0097910
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1908
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
159,840 SF
Lot
0.46 ac (19,980 SF)
Zoning code
PSM 100/100-120
APN
093900-0040
UPID
US90-0097910
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
-
Yellow Butterfly Coffee shop Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.09M
Owner & transaction history
Central Puget Sound Regional Transi · 3 yrs held
Central Puget Sound Regional Transi
since 2023
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
PSM 100/100-120 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Method
Estimation
Statistic approach
$1,060,000
ML approach
$1,170,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.09M
Range $977k – $1.19M · ±10% · vs last sale $1.06M (Apr 19 2023)
Last sale anchor
$1.06M
Apr 19 2023
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
$7 / 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
$8,797
Tax year 2022
Assessed value
$617,900
Assessed 2022
Previous assessed
$617,900
+0.0% YoY
Effective rate
1.42%
On assessed value
Assessed land
$240,600
Assessed improvement
$377,300
Land market value
$240,600
Improvement market value
$377,300
Total market value
$617,900
Applied tax rate
11.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1908
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
7
Total area
159,840 SF
Lot
0.46 ac (19,980 SF)
Zoning code
PSM 100/100-120
APN
093900-0040
UPID
US90-0097910
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
PSM 100/100-120 · Seattle, WA
Zoning PSM 100/100-120 · permitted uses
PSM 100/100-120 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1908
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
7
Lot
0.46 ac
Current owner
From public records · entity-resolved
Central Puget Sound Regional Transi
Individual
Free & Clear · 3 yrs held
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
21 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 28, 2025
—
Downtown Emergency Service Center
—
Deed
related
—
Apr 23, 2025
—
Downtown Emergeny Service Center
—
Deed
related
$3,395,000 · Washington State Department Of Commerce
Apr 19, 2023
—
Central Puget Sound Regional Transi
King County
Quit Claim Deed
related
—
Nov 12, 2021
$70,800
S Qozb LLC
Downtown Emergency Service Center
Special Warranty Deed
—
Nov 12, 2021
$1,059,000
S Qozb LLC
Downtown Emergency Service Center
Special Warranty Deed
—
Oct 25, 2019
—
Downtown Emergency Svc Ctr
—
Deed
related
$500,000 · Miscellaneous Govt Agcy
Dec 3, 2018
—
Downtown Emergency Svc Ctr
Morrison Hotel LLC
Quit Claim Deed
related
—
Dec 3, 2018
$3,717,000
Downtown Emergency Svc Ctr
Morrison Hotel LLC
Grant Deed
—
Nov 1, 2018
—
Morrison Hotel LLC
—
Deed
related
$7,417,000 · Miscellaneous Govt Agcy
Aug 17, 2004
$702,900
1301 Second Avenue LLC
Morrison Hotel LLC
Grant Deed
—
Oct 2, 2003
—
Morrizon Hotel LLC
—
Trustees Deed
related
$8,500,000 · Wells Fargo Bank
Jun 25, 2003
—
Morrison Hotel LLC
Downtown Emergency Service Cen
Grant Deed
related
—
Oct 1, 2001
$1,606,890
Downtown Emergency Service
Housing Authority Seattle
Grant Deed
$1,500,000 · Seattle City (wa)
—
—
Morrison Hotel LLC
—
Loan Modification
related
$7,417,000 · Miscellaneous Govt Agcy
—
—
Downtown Emergency Svc Ctr
—
Deed Of Trust
related
$500,000 · Miscellaneous Govt Agcy
—
—
Morrizon Hotel LLC
—
Deed Of Trust
related
$1,350,000 · Downtown Emergency Service
—
—
Downtown Emergency Service Cen
—
Deed Of Trust
related
$620,200 · Impact Capital
—
—
Downtown Emergency Service Cen
—
Deed Of Trust
related
$75,000 · Impact Capital
—
—
Morrizon Hotel LLC
—
Deed Of Trust
related
$2,625,271 · Downtown Emergency Service
—
—
Morrizon Hotel LLC
—
Deed Of Trust
related
$2,000,000 · Department Of Community
—
—
Morrizon Hotel LLC
—
Deed Of Trust
related
$1,280,000 · Department Of Community & Huma
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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