Financial
Distress signals
Property profile

550 NE Northgate Way Seattle, WA 98125

FOR LEASE
Retail space
Property ID
US90-1602515
7,152 SF 0.62 ac lot Built 1984
Last sale Dec 2024
Entity Owned Owner of record is a legal entity (LLC / corporation). 1-yr Hold Held for 1 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property is a retail space located at the corner of NE Northgate Way and 8th Ave NE, with a total area of approximately 7,200 square feet. It includes ample surface parking and is within walking distance of the Northgate Light Rail Station, providing transit accessibility. The space was previously used as a jewelry store and is configured as a retail tenancy with provisions in the prior lease for tenant changes, including a termination clause after three years.

Ownership intelligence

Who controls the opportunity?

Resolved identity, portfolio, hold profile and investor signals. Included in the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$36k
Tax billed · 2022
Assessed value$3.77M
Assessed land$3.77M
Assessed improvement$1k
Effective rate0.95%

Value estimate

· Sep 2026
$2.24M
$2.01M – $2.46M
CAP approach$2.24M
Sales comparison$1.40M
NOI build-up
Gross scheduled income$158k
Vacancy & credit loss−$5k
Operating expenses−$46k
NOI · 466,773.91% cap applied$107k

Realmo valuation models over county records and 9 qualifying comparable sales.

Recently sold

What actually traded nearby?
$401/SF
Submarket average, outlier-cleaned · 270 recorded sales of this use type
Observed band · Q1–Q3$189 – $689
Qualifying comparables9

Cap rate analysis

How does the asset earn?
466,773.91%
$107k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
NC3-75 (M)
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping distr...
General categoryCOMMERCIAL
JurisdictionKING

Location intelligence

Which uses thrive at this corner?
Best fit: HVAC Service
Demand heat for this use is drawn on the map · LocInt grid
Demand index
HVAC Service11.9
Wholesale Shop10.2
Grocery Store9.7

Location

550 NE Northgate Way Seattle, WA 98125
County assessor Recorded deeds · 6 transfers 9 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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