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Property profile & analytics
FOR LEASE
Auto shops
508 Denny Way Seattle, WA 98109
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0864672
For Lease
1 / 3
$25 SF/Yr
508 Denny Way, Seattle, WA 98109
View Listing →
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1919
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,818 SF
Lot
0.31 ac (13,560 SF)
Zoning code
SM-UP 160 (M)
APN
199120-0235
UPID
US90-0864672
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
-
Fat City German Car Clinic Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.96M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.24M
Blend (final)
Blend
$9.07M
Owner & transaction history
Da Li Properties LLC · 3 yrs held
Da Li Properties LLC
since 2023
Last sale
$9.1M
6 recorded transactions
Zoning & alternative use
SM-UP 160 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.9M
+27.6%
Commercial (general)
$9.5M
+23.0%
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
$9,105,000
ML approach
$8,955,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$7,740,000
Current use
RESTAURANT
$9,875,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,520,000
Change: +23% · Conversion: Moderate
OFFICE BUILDING
$7,700,000
Change: -1% · Conversion: Difficult
RETAIL STORES
$7,545,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,675,000
Change: -14% · Conversion: Difficult
MEDICAL BUILDING
$6,470,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$9.07M
Range $8.16M – $9.97M · ±10% · vs last sale $9.10M (Jun 30 2023)
Last sale anchor
$9.10M
Jun 30 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
$482 / 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
$79,644
Tax year 2022
Assessed value
$9,493,000
Assessed 2022
Previous assessed
$9,493,000
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$9,492,000
Assessed improvement
$1,000
Land market value
$9,492,000
Improvement market value
$1,000
Total market value
$9,493,000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Lease
Year built
1919
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
18,818 SF
Lot
0.31 ac (13,560 SF)
Zoning code
SM-UP 160 (M)
APN
199120-0235
UPID
US90-0864672
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SM-UP 160 (M) · Seattle, WA
Zoning SM-UP 160 (M) · permitted uses
SM-UP 160 (M) · 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.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$7.7M
RESTAURANT
Est. value
$9.9M
COMMERCIAL (GENERAL)
Est. value
$9.5M
OFFICE BUILDING
Est. value
$7.7M
RETAIL STORES
Est. value
$7.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.7M
MEDICAL BUILDING
Est. value
$6.5M
AUTO REPAIR, GARAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1919
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
0.31 ac
Current owner
From public records · entity-resolved
Da Li Properties LLC
Entity
Mailing address
450 S MAIN ST #168, SEATTLE, WA 98104-5172
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2023
$9,100,000
Da Li Properties LLC
Allgreen Holding Limited LLC
Warranty Deed
$6,000,000 · Allgreen Holding Limited LLC
Jul 13, 2017
$8,100,000
Allgreen Holding Ltd LLC
Berger,jesse F
Warranty Deed
—
Jun 5, 2017
—
Carol L Edward
—
Deed
related
$250,000 · Us Bank NA
Mar 24, 1994
$750,000
Jesse F Berger
Rex Land Co
Grant Deed
$528,000 · Individual
—
—
Jesse F Berger
—
Deed Of Trust
related
$125,000 · Fremont First National Bank
—
—
Jesse F Berger
—
Deed Of Trust
related
$660,000 · Seafirst Bank
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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