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Property profile & analytics
OFF-MARKET
Estimated value
$15,250,000
Hotels
515 Madison St, Seattle, WA 98104-1119
Entity Owned
12-yr Hold
Free & Clear
Property ID
US90-1738234
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1983
Construction
STEEL FRAME
Total area
427,472 SF
Lot
0.5 ac (21,600 SF)
Zoning code
DOC1 U/450/U
APN
094200-0430
UPID
US90-1738234
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
-
Renaissance Seattle Hotel Hotel & Motel
-
The Fig & The Judge Restaurant
-
The 515 Bar & Lounge Grocery & Convenience Store Food Market
-
Royal cariban cruise port Hotel & Motel
-
After Effects World Conference Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.78M
Blend (final)
Blend
$15.25M
Owner & transaction history
Madison Hotel LLC · 12 yrs held
Madison Hotel LLC
since 2013
7 recorded transactions
Zoning & alternative use
DOC1 U/450/U · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$15.25M
Range $13.73M – $16.78M · ±10%
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
$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
$1,320,921
Tax year 2022
Assessed value
$162,193,900
Assessed 2022
Previous assessed
$162,193,900
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$33,480,000
Assessed improvement
$128,713,900
Land market value
$33,480,000
Improvement market value
$128,713,900
Total market value
$162,193,900
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1983
Construction
STEEL FRAME
Heating
OTHER
Cooling
OTHER
Stories
28
Total area
427,472 SF
Lot
0.5 ac (21,600 SF)
Zoning code
DOC1 U/450/U
APN
094200-0430
UPID
US90-1738234
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DOC1 U/450/U · Seattle, WA
Zoning DOC1 U/450/U · permitted uses
DOC1 U/450/U · 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
1983
Construction
STEEL FRAME
Heating
OTHER
Cooling
Yes
Stories
28
Lot
0.5 ac
Current owner
From public records · entity-resolved
Madison Hotel LLC
Entity
Free & Clear · 12 yrs held
Mailing address
PO BOX 9006, SEATTLE, WA 98109-0006
Ownership since
2013
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
May 2, 2017
—
Madison Hotel LLC
—
Deed
related
$127,000,000 · Jefferies Loancore
Sep 19, 2013
—
Madison Hotel LLC
Cypress Family LLC
Quit Claim Deed
related
—
Apr 17, 2012
$7,600
Madison Hotel LLC
Hedreen,richard C & Elizabeth A
Quit Claim Deed
related
—
Dec 17, 2007
—
Madison Hotel LLC
Hedreen,richard C & Elizabeth A
Quit Claim Deed
related
—
Mar 2, 1998
—
Madison Hotel LLC
Cypress Partners Ltd
Grant Deed
$49,000,000 · Gmac Commercial Mortgage Corp
Jan 2, 1996
$1,050,000
Cypress Partners Ltd
R C Hedreen Co
Quit Claim Deed
related
—
Dec 22, 1995
—
Cypress Partners Ltd
Hedreen,richard C & Elizabeth A
Quit Claim Deed
related
—
Mar 23, 1995
$882,000
R C Hedreen Co
Ctf Hotel Co
Quit Claim Deed
related
—
—
—
Madison Hotel LLC
—
Loan Modification
related
$10,000,000 · Miscellaneous Ins Co
—
—
Cypress Partners
—
Deed Of Trust
related
$70,000,000 · Miscellaneous Ins Co
—
—
Madison Hotel LLC
—
Loan Modification
related
$10,000,000 · Miscellaneous Ins Co
—
—
Madison Hotel LLC
—
Deed Of Trust
related
$127,000,000 · Jefferies Loancore
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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