Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    521 3rd W Ave Seattle, WA 98119-3913

    • Parking lots & garages
    • 0.33 lot acres
    OFF-MARKET
    Value Estimations
    $385,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1879519
    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

    • Ruwi's Kitchen / Health Food Restaurant

    Property Details for 521 3rd W Ave

    Lot size
    0.33 lot acres
    Zone code
    SM-UP 85 (M1)
    Property type
    Parking lots & garages
    APN
    199020-0205
    APU
    1990200205

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.361
    Latitude
    47.6239
    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
    $61,185
    $7,200,000
    $0.00
    $7,200,000
    -
    $7,200,000
    $0.00
    $7,200,000

    Comparable in this City

    • Value Estimation
      $285,000
      0.17 Acres

      525 2nd W Ave

      PARKING LOT • 0.17 Acres
      525 2nd W Ave, Seattle, WA 98119-3927
      View Details
    • Value Estimation
      $390,000
      0.28 Acres

      110 1st W Ave

      PARKING LOT • 0.28 Acres
      110 1st W Ave, Seattle, WA 98119-4248
      View Details
    • Value Estimation by Request
      99,900 SF

      1300 3rd W Ave

      PARKING GARAGE, PARKING STRUCTURE • 99,900 SF
      1300 3rd W Ave, Seattle, WA 98119-3312
      View Details
    • Value Estimation
      $2,855,000
      13,688 SF

      Seattle, WA 98119

      PARKING GARAGE, PARKING STRUCTURE • 13,688 SF
      Seattle, WA 98119
      View Details
    • Value Estimation
      $245,000
      3,040 SF

      369 Nickerson St

      PARKING LOT • 3,040 SF
      369 Nickerson St, Seattle, WA 98119-1509
      View Details
    • Value Estimation
      $260,000
      0.12 Acres

      900 Ewing St

      PARKING LOT • 0.12 Acres
      900 Ewing St, Seattle, WA 98119
      View Details

    Similar Nearby for Sale

    • $1,750,000

      Secured Parking and Warehouse Space

      Secured parking lot and warehouse space available for sale.
      652 Elliott Ave W, Seattle, WA 98119
      View Details
    • Contact for pricing
      41,776 SF

      Seattle Church and School Opportunity

      Church and school buildings with parking near Seattle Pacific University.
      3200 3Rd Ave W, Seattle, WA 98119
      View Details
    • $5,750,000
      23,507 SF

      Fully Leased Mixed-Use Property

      Versatile, income-producing asset with office, retail, and warehouse spaces.
      2201 15Th Ave W, Seattle, WA 98119
      View Details
    • $4,250,000
      13,320 SF

      Belltown Retail Building For Sale

      Two-story, 13,320 SF retail building in Seattle's Belltown neighborhood.
      2112 1St Ave, Seattle, WA 98119
      View Details
    • Contact for pricing
      2,712 SF

      Belltown Retail or Office Space

      Retail or office space in the heart of Belltown.
      2207-2211 3Rd Ave, Seattle, WA 98119
      View Details
    • $2,250,000

      Magnolia Village Leased Retail Investment

      Leased retail property in Magnolia Village with storage space.
      3310 W Mcgraw St, Seattle, WA 98119
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      3,890 SF

      Retail Space on Third Avenue

      3,890 SF retail space at a hard corner location.
      1015 3Rd Ave, Seattle, WA 98119
      View Details
    • $32 SF/Yr
      34,976 SF

      Queen Anne Retail Space For Lease

      Vibrant Queen Anne location, 1,480 sq ft available.
      102 Roy St, Seattle, WA 98119
      View Details
    • $45 SF/Yr
      2,052 SF

      Prime Retail Space Available

      Highly visible corner ground floor space suitable for retail.
      1200 3Rd Ave, Seattle, WA 98119
      View Details
    • $35 SF/Yr
      1,647 SF

      Prime Retail Space in Seattle

      Iconic corner location in downtown Seattle with high visibility.
      1904-1912 3Rd Ave, Seattle, WA 98119
      View Details
    • $18 SF/Yr
      8,777 SF

      Elliott Avenue Retail Space

      Second floor retail suite available for lease.
      1419-1477 Elliott Ave W, Seattle, WA 98119
      View Details
    • $30 SF/Yr
      734 SF

      Retail Space in Seattle

      Retail space available for lease in Seattle, Washington.
      1201 2Nd Ave, Seattle, WA 98119
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    521 3rd W Ave
    Seattle, WA 98119-3913
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.