New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,275,000
Office buildings
545 Rainier N Blvd, Issaquah, WA 98027-2806
Entity Owned
~
Est. High Equity
Property ID
US90-0681687
Property summary
AI-generated overview
This exceptional Class A, 9,117 square foot executive office building at 545 Rainier Blvd N, Issaquah, WA 98027 presents a compelling owner/user or value-add investment opportunity. The three-story building, constructed in 1982 and extensively renovated in 2023, sits on a 15,200 square foot lot and boasts 29 units, currently 100% occupied. All tenants are on month-to-month leases, providing significant potential for future rent increases. The property features a new roof, private balconies, showers, a sauna, and ample parking with 25 spaces. Located in the heart of Issaquah's central business district (CBD), the building benefits from its proximity to numerous shops and restaurants. The asking price is $3,600,000, representing a pro-forma cap rate of 8.00% and a price per square foot of $394.87. This is a rare chance to acquire a fully leased, high-demand property with substantial upside potential in a thriving Issaquah location. The property's APN is 282406-9030. The gross lease structure ensures consistent income. This is a multi-tenant building with no credit rating required for tenants.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1937
Construction
WOOD
Total area
9,915 SF
Lot
0.35 ac (15,200 SF)
Zoning code
CBD
APN
282406-9030
UPID
US90-0681687
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.55M
Comparable Approach
Comparable
$3.34M
Blend (final)
Blend
$3.28M
Owner & transaction history
Wmmm LLC
Wmmm LLC
since 2026
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
CBD · Issaquah, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.3M
+20.8%
Commercial (general)
$5.1M
+16.0%
Auto repair, garage
$4.6M
+4.5%
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 Issaquah submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Issaquah 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%
$3,845,000
6.5%
$3,550,000
7%
$3,295,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,355,000
Current use
RESTAURANT
$5,260,000
Change: +21% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,055,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,550,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$3,915,000
Change: -10% · Conversion: Easy
RETAIL STORES
$3,890,000
Change: -11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,780,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$3.28M
Range $2.95M – $3.60M · ±10% · vs last sale $3.10M (Jan 9 2026)
Last sale anchor
$3.10M
Jan 9 2026
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
$330 / 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
$12,115
Tax year 2022
Assessed value
$1,595,700
Assessed 2022
Previous assessed
$1,595,700
+0.0% YoY
Effective rate
0.76%
On assessed value
Assessed land
$554,800
Assessed improvement
$1,040,900
Land market value
$554,800
Improvement market value
$1,040,900
Total market value
$1,595,700
Applied tax rate
1,405.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1937
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Total area
9,915 SF
Lot
0.35 ac (15,200 SF)
Zoning code
CBD
APN
282406-9030
UPID
US90-0681687
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CBD · Issaquah, WA
Zoning CBD · permitted uses
CBD · Issaquah, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Issaquah. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.4M
RESTAURANT
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$4.6M
MEDICAL BUILDING
Est. value
$3.9M
RETAIL STORES
Est. value
$3.9M
INDUSTRIAL (GENERAL)
Est. value
$3.8M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1937
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Lot
0.35 ac
Current owner
From public records · entity-resolved
Wmmm LLC
Entity
Mailing address
545 RAINIER BLVD N #9, ISSAQUAH, WA 98027-2806
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2026
$3,100,000
Wmmm LLC
Heron Creek LLC
Warranty Deed
$2,325,000 · Columbia Bank
Dec 9, 2021
—
Heron Creek LLC
—
Deed
related
$300,000 · Bank Of America NA
Apr 13, 2017
—
Heron Creek LLC
—
Deed
related
$487,758 · Bank Of America
Jan 29, 1999
$900,000
Heron Creek LLC
Darrell Scott Building
Grant Deed
$675,000 · First Mutual Savings Bank
—
—
S Acquisitions
—
Deed Of Trust
related
$350,000 · Enterprise Bank Of Bellevue
—
—
Heron Creek LLC
—
Deed Of Trust
related
$487,758 · Bank Of America
—
—
Heron Creek LLC
—
Deed Of Trust
related
$600,000 · Bank Of America
—
—
Darrell Scott Building LP
—
Deed Of Trust
related
$575,000 · First Mutual Savings 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 545 Rainier N Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
