5301 Shilshole NW Ave Seattle, WA 98107-4021
Entity Owned
Absentee Owner
Free & Clear
Estimated value (blended)
$8.99M
Range $8.09M – $9.88M (±10%)
Property ID
US90-0696230
Property summary
AI-generated overview
Located in Seattle, WA, at 5301 Shilshole Ave NW (zip code 98107), Salmon Bay Center offers 12,048 square feet of immediately available office and flex space for lease. This single, three-story building, totaling 52,231 square feet, sits on a 2.04-acre lot (88,862 square feet) and is classified as Class C. Originally constructed in 1964 and renovated in 2000, the property features a 20-foot ceiling height, making it ideal for various business needs. The space is divisible to a minimum of 12,048 square feet. Convenient for loading and unloading, the building boasts five loading docks and two dock-high doors. Ample parking is provided with 25 total spaces. The property is zoned IG1 and offers a blend of executive office and flex space, suitable for a variety of tenants. This exceptional opportunity presents a chance to secure a well-located, functional space in a thriving Seattle neighborhood. The available space is 12,048 square feet. Inquire today to learn more about this exceptional leasing opportunity.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
54,820 SF
Lot
2.04 ac (88,677 SF)
Zoning code
IG2 U/65
APN
046700-0420
UPID
US90-0696230
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.99M
Owner & transaction history
Zoning & alternative use
IG2 U/65 · Seattle, WA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$8.99M
Value range
$8.09M – $9.88M
±10% around blend
Estimated value / SF
$164 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
50
$8.09M
blend $8.99M
$9.88M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
54,820 SF
Lot area
2.04 ac
Year built
1959
Stories
2
APN
046700-0420
Assessed value
$18,331,400
Annual tax
$165,543
3
Income approach: direct capitalization
Partial preview
Income approach indication
$9.27M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$10.04M
@ 6.5% CAP return
$9.27M
@ 7% CAP return
$8.61M
4
Sales comparison
Partial preview
Sales approach indication
$10.25M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.2 mi away · 38,959 SF
13.5 mi away · 41,134 SF
23.1 mi away · 65,725 SF
26.6 mi away · 50,900 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$8.99M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 209 sales
$295
-45%
County 375 sales
$287
-43%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $164/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$18.33M
Move the market yield to see immediate price impact.
Value / SF
$334
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$1.15M
$23.10M
$16.50M
$12.83M
$1.28M
$25.66M
$18.33M
$14.26M
$1.41M
$28.23M
$20.16M
$15.68M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$9.80M
0.4 mi · Sep 2025 · $161/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$165,543
Tax year 2022
Assessed value
$18,331,400
Assessed 2022
Previous assessed
$18,331,400
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$10,641,200
Assessed improvement
$7,690,200
Land market value
$10,641,200
Improvement market value
$7,690,200
Total market value
$18,331,400
Applied tax rate
10.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Buildings
2
Stories
2
Total area
54,820 SF
Lot
2.04 ac (88,677 SF)
Zoning code
IG2 U/65
APN
046700-0420
UPID
US90-0696230
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WAZoning IG2 U/65 · permitted uses
IG2 U/65 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
2
Buildings
2
Lot
2.04 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
IG2 U/65
Jurisdiction
Seattle, WA
Recorded code
IG2 U/65
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for IG2 U/65 in Seattle, WA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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