New search
Property profile & analytics
OFF-MARKET
Estimated value
$4,365,000
Warehouses
503 Westlake N Ave, Seattle, WA 98109-4304
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-0609682
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1919
Construction
CONCRETE
Total area
38,880 SF
Lot
0.15 ac (6,480 SF)
Zoning code
SM-SLU 175/85-280
APN
198320-0095
UPID
US90-0609682
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
-
Compass Real Estate Real Estate Agency
-
Steve Kennedy Real Estate Real Estate Agency
-
Jake Robinett, Market Place Sotheby's International Realty Real Estate Agency
-
LibertyX Bitcoin ATM Atm
-
Christine Constantini Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.37M
Owner & transaction history
Westlake Building LLC · 11 yrs held
Westlake Building LLC
since 2015
7 recorded transactions
Zoning & alternative use
SM-SLU 175/85-280 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$112 / 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
$120,070
Tax year 2022
Assessed value
$14,636,400
Assessed 2022
Previous assessed
$14,636,400
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$5,022,000
Assessed improvement
$9,614,400
Land market value
$5,022,000
Improvement market value
$9,614,400
Total market value
$14,636,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1919
Construction
CONCRETE
Heating
SPACE
Stories
5
Total area
38,880 SF
Lot
0.15 ac (6,480 SF)
Zoning code
SM-SLU 175/85-280
APN
198320-0095
UPID
US90-0609682
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SM-SLU 175/85-280 · Seattle, WA
Zoning SM-SLU 175/85-280 · permitted uses
SM-SLU 175/85-280 · 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
1919
Construction
CONCRETE
Heating
SPACE
Stories
5
Lot
0.15 ac
Current owner
From public records · entity-resolved
Westlake Building LLC
Entity
Mailing address
845 160TH AVE NE #100, BELLEVUE, WA 98008
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
May 17, 2017
—
503 Westlake Associates LLC
—
Deed
related
$12,800,000 · Banner Bank
Mar 5, 2015
—
Westlake Building LLC
Westlake Building LLC
Quit Claim Deed
related
—
Feb 27, 2015
$1,750,000
503 Westlake Associates LLC
Westlake Building LLC
Warranty Deed
$2,950,000 · Commerce Bk/wa
Feb 27, 2015
$2,000,000
503 Westlake Associates LLC
Green Frances G Trust
Warranty Deed
—
Mar 11, 2013
—
Green Frances G Trust
Green,frances G
Quit Claim Deed
related
—
Feb 2, 2007
—
Westlake Building LLC
Rose,jennie
Quit Claim Deed
related
—
Mar 31, 2006
—
Jennie Rose
Strople Family Trust
Quit Claim Deed
related
—
Jun 13, 2005
—
Strople Family Trust
Strople,patricia J R
Quit Claim Deed
related
—
Mar 9, 1993
—
Green,frances
Estate Of Jennie
Grant Deed
related
—
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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