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Property profile & analytics
FOR LEASE
Hotels
505 1St Ave South, Seattle, WA 98104
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0614572
For Lease
Contact for pricing
505 1St Ave South, Seattle, WA 98104
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1930
Construction
WOOD
Total area
16,872 SF
Lot
0.3 ac (13,200 SF)
Zoning code
SM-UP 85 (M1)
APN
198820-0055
UPID
US90-0614572
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
-
Workpointe Big Box & Wholesale Store Furniture & Home Goods
-
Dell Technologies (Bike/Boat/Book/etc) Store Corporate Office
-
Jeremy Olson: Allstate Insurance Insurance Agency
-
SemaConnect Charging Station Electric Vehicle Charging Station
-
Blink Charging Station Electric Vehicle Charging Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
King County · 5 yrs held
King County
since 2021
Last sale
$16.5M
7 recorded transactions
Zoning & alternative use
SM-UP 85 (M1) · 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
—
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
$2,102
Tax year 2022
Applied tax rate
10.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
For Lease
Year built
1930
Construction
WOOD
Heating
HOT WATER
Buildings
2
Stories
3
Total area
16,872 SF
Lot
0.3 ac (13,200 SF)
Zoning code
SM-UP 85 (M1)
APN
198820-0055
UPID
US90-0614572
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SM-UP 85 (M1) · Seattle, WA
Zoning SM-UP 85 (M1) · permitted uses
SM-UP 85 (M1) · 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
1930
Construction
WOOD
Heating
HOT WATER
Stories
3
Buildings
2
Lot
0.3 ac
Current owner
From public records · entity-resolved
King County
Entity
Mailing address
500 4TH AVE RM #830, SEATTLE, WA 98104-2371
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2021
$16,500,000
King County
Wedgewood Court III Associates LLC
Warranty Deed
—
Mar 12, 2009
—
Wedgewood Court III Assocs LLC
—
Deed Of Trust
related
$1,750,000 · Pacific Continental Bank
Sep 4, 2001
—
Wedgewood Court III Associates
Wedgewood Court III Associates
Quit Claim Deed
related
—
Nov 1, 1991
$2,050,000
Court Wedgewood III
Wedgewood Associ
Grant Deed
related
$389,500 · Seller
—
—
Wedgewood Court III Associates
—
Deed Of Trust
related
$100,000 · Us Bank Of Washington
—
—
Wedgewood Court III Assocs LLC
—
Deed Of Trust
related
$4,240,000 · Pacific Continental Bank
—
—
Wedgewood Court III Assocs LLC
—
Loan Modification
related
—
—
—
Wedgewood Court 111 Assoc LLC
—
Deed Of Trust
related
$3,110,000 · Washington First Int'l Bank
—
—
Wedgewoood Court III Assoc LLC
—
Deed Of Trust
related
$1,300,000 · Evertrust Bank
—
—
Wedgewood Court III Assocs LLC
—
Deed Of Trust
related
$4,456,958 · Pacific Continental Bank
—
—
Wedgewood Court III Associates
—
Deed Of Trust
related
$3,520,000 · Us Bank
—
—
Wedgewood Court III Associates
—
Deed Of Trust
related
$1,875,000 · Us Bank Of Washington
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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