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Property profile & analytics
OFF-MARKET
Estimated value
$13,230,000
Medical Office Space
505 Olive Way, Seattle, WA 98101
Entity Owned
6-yr Hold
Property ID
US90-0817424
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1925
Construction
CONCRETE
Total area
363,934 SF
Lot
0.57 ac (24,820 SF)
Zoning code
DRC 85-170
APN
065900-0085
UPID
US90-0817424
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.23M
Owner & transaction history
Mdb Landmark LLC · 6 yrs held
Mdb Landmark LLC
since 2019
7 recorded transactions
Zoning & alternative use
DRC 85-170 · 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
$36 / 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
$822,987
Tax year 2022
Assessed value
$100,789,000
Assessed 2022
Previous assessed
$100,789,000
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$21,717,500
Assessed improvement
$79,071,500
Land market value
$21,717,500
Improvement market value
$79,071,500
Total market value
$100,789,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1925
Construction
CONCRETE
Heating
STEAM
Stories
18
Total area
363,934 SF
Lot
0.57 ac (24,820 SF)
Zoning code
DRC 85-170
APN
065900-0085
UPID
US90-0817424
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DRC 85-170 · Seattle, WA
Zoning DRC 85-170 · permitted uses
DRC 85-170 · 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
1925
Construction
CONCRETE
Heating
STEAM
Stories
18
Lot
0.57 ac
Current owner
From public records · entity-resolved
Mdb Landmark LLC
Entity
Mailing address
621 SW ALDER ST STE #800, PORTLAND, OR 97205-3623
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2021
—
Mdb Landmark LLC
—
Deed
related
$75,000,000 · Voya Investment Management LLC
Jul 20, 2020
—
Mdb Landmark LLC
—
Deed
related
$74,500,000 · Equitable Fin'l Life Ins Co
Sep 13, 2019
$112,848,500
Mdb Landmark LLC
Gre Medical Dental Bldg LLC
Grant Deed
$74,500,000 · Miscellaneous Ins Co
May 14, 2018
—
Gre Medical Dental Bldg LLC
—
Deed
related
$74,500,000 · Miscellaneous Ins Co
Dec 19, 2007
—
Gre Medical Dental Bldg LLC
—
Deed Of Trust
related
$70,000,000 · Bank Of America
Aug 1, 2005
$38,488,750
Gre Medical Dental Bldg LLC
Harsch Inv Realty LLC Series E
Grant Deed
$50,000 · Bank Of America
Dec 20, 2001
—
Harsch Investment Realty LLC
Harsch Investment Corp
Quit Claim Deed
related
—
Aug 21, 1992
—
Harsch Investment Co
Harsh Investment
Quit Claim Deed
related
—
—
—
Gre Medical Dental Bldg LLC
—
Deed Of Trust
related
$70,000,000 · Bank Of America
—
—
Gre Medical Dental Building Ll
—
Deed Of Trust
related
$5,000,000 · Miscellaneous Ins Co
—
—
Mdb Landmark LLC
—
Loan Modification
related
$74,500,000 · Equitable Fin'l Life Ins Co
—
—
Gre Medical Dental Building Ll
—
Deed Of Trust
related
$61,607,571 · Bank Of America
—
—
Harsch Investment Realty LLC
—
Deed Of Trust
related
$20,000,000 · Us Bank NA
—
—
Gre Medical Dental Bldg LLC
—
Loan Modification
related
$74,500,000 · Miscellaneous Ins Co
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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