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    Property profile & analytics

    5201 1St Ave S Seattle, WA 98107

    • Manufacturing properties
    • 22,622 SF
    • 1.00 lot acres
    For Sale
    View listing
    Last Sale
    May 28, 2021
    $8,500,000
    Value Estimations
    Cap Rate Potential
    2.4%
    Manufacturing properties
    Location Intelligence
    Property ID
    US90-1680433
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Trademark Adventures / Auto Parts Store
    • Tiki Motors Adventure Cars | TMAC / Used Car Dealer

    Property Details for 5201 1St Ave S

    Year built
    1927
    Construction
    WOOD
    Lot size
    1.00 lot acres
    Property size
    22,622 SF
    Zone code
    IG2 U/85
    Property type
    Manufacturing properties
    APN
    526330-0985
    APU
    5263300985

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,470,000
      ML approach
      $8,650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,678,000
      Market price range: $3.64M - $8.11M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $6,055,000
      Current use
      RESTAURANT
      $11,870,000
      Change: +96% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $11,445,000
      Change: +89% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $9,305,000
      Change: +54% Conversion: Easy
      RETAIL STORES
      $9,070,000
      Change: +50% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $8,025,000
      Change: +32% Conversion: Difficult
      OFFICE BUILDING
      $7,995,000
      Change: +32% Conversion: Difficult
      MEDICAL BUILDING
      $7,780,000
      Change: +28% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.335
    Latitude
    47.5553
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $48,692
    $2,177,200
    $2,808,200
    $4,985,400
    -
    $2,177,200
    $2,808,200
    $4,985,400

    Comparable in this City

    • Value Estimation
      $625,000
      44,445 SF

      5801 3rd S Ave

      MANUFACTURING (LIGHT) • 44,445 SF
      5801 3rd S Ave, Seattle, WA 98108-3205
      View Details
    • Value Estimation
      $505,000
      24,925 SF

      1313 96th St

      MANUFACTURING (LIGHT) • 24,925 SF
      1313 96th St, Seattle, WA 98108-5011
      View Details
    • Value Estimation
      $545,000
      25,000 SF

      115 Lucile St

      MANUFACTURING (LIGHT) • 25,000 SF
      115 Lucile St, Seattle, WA 98108-2431
      View Details
    • Value Estimation
      $345,000
      16,392 SF

      6239 Corson S Ave

      MANUFACTURING (LIGHT) • 16,392 SF
      6239 Corson S Ave, Seattle, WA 98108-3443
      View Details
    • Value Estimation
      $560,000
      16,767 SF

      5800 Corson S Ave

      MANUFACTURING (LIGHT) • 16,767 SF
      5800 Corson S Ave, Seattle, WA 98108-2606
      View Details
    • Value Estimation
      $380,000
      6,822 SF

      751 Michigan St

      MANUFACTURING (LIGHT) • 6,822 SF
      751 Michigan St, Seattle, WA 98108-2636
      View Details

    Similar Nearby for Sale

    • $5,700,000

      Seattle Manufacturing Warehouse on 1.44 Acres

      Securely fenced Seattle site with manufacturing warehouse and office space.
      631 96Th St, Seattle, WA 98108
      View Details
    • Contact for pricing
      12 SF

      Warehouse Space Near Boeing Field

      Warehouse space suitable for manufacturing, fabrication, or light distribution.
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    • $3,250,000

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      28,800 SF lot in SODO, ideal for logistics.
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    • $1,650,000
      3,847 SF

      Warehouse/Flex Building in Georgetown

      3,847 SF warehouse/flex building with fenced storage in Seattle.
      6349 6Th Ave S, Seattle, WA 98108
      View Details
    • $1,900,000
      7,243 SF

      Georgetown Industrial Building For Sale

      Well-maintained industrial building in Seattle's Georgetown neighborhood with value-add opportunity.
      6348 6Th Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing
      51,000 SF

      Seattle Fenced Industrial Yard

      Gravel yard with remodeled garage/office near Port of Seattle.
      9128 10Th Ave S, Seattle, WA 98108
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,050 SF

      Seattle Industrial Property with Crane

      Industrial property featuring a crane system and wash bay.
      150 South River St, Seattle, WA 98108
      View Details
    • Contact for pricing
      1,384 SF

      Industrial Flex Space Available

      Flex space featuring 1,384 SF with one grade-level door.
      430 S 96Th St, Seattle, WA 98108
      View Details
    • Contact for pricing
      1,376 SF

      Flex Space Available For Rent

      Flex space featuring 1,376 SF with one grade-level door.
      420 S 96Th St, Seattle, WA 98108
      View Details
    • $1.65 SF/Yr
      6,080 SF

      Industrial Space in Seattle Available

      Industrial property available for rent in Seattle, Washington.
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      View Details
    • Contact for pricing
      37,203 SF

      Industrial Warehouse Building For Rent

      37,203 SF industrial warehouse with superior location and upgrades.
      7700 2Nd Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing

      Seattle Industrial Outdoor Storage Land

      18 acres of fenced, secured industrial land for lease.
      8531 E Marginal Way S, Seattle, WA 98108
      View Details
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    Seattle, WA 98107
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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