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Property profile & analytics
OFF-MARKET
Estimated value
$2,820,000
Distribution centers
5506 1st S Ave Seattle, WA 98108-2401
Entity Owned
~
Est. High Equity
Property ID
US90-0658517
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
13,416 SF
Lot
0.28 ac (12,117 SF)
Zoning code
MML U/85
APN
526330-0745
UPID
US90-0658517
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
$2.85M
CAP Approach
CAP
$2.27M
Comparable Approach
Comparable
$3.31M
Blend (final)
Blend
$2.82M
Owner & transaction history
Tall Stacks LLC
Tall Stacks LLC
since 2025
4 recorded transactions
Zoning & alternative use
MML U/85 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Municipal Code
Top alternative use upside
Medical building
$4.6M
+12.9%
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 Seattle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seattle 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
$2,850,000
ML approach
$2,850,000
CAP Approach
CAP Return
Estimation
6%
$2,460,000
6.5%
$2,270,000
7%
$2,105,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,090,000
Current use
MEDICAL BUILDING
$4,615,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$2.82M
Range $2.54M – $3.10M · ±10%
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
$210 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$22,529
Tax year 2024
Assessed value
$2,113,400
Assessed 2023
Previous assessed
$2,113,400
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$605,800
Assessed improvement
$1,507,600
Land market value
$605,800
Improvement market value
$1,507,600
Total market value
$2,113,400
Applied tax rate
10.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
13,416 SF
Lot
0.28 ac (12,117 SF)
Zoning code
MML U/85
APN
526330-0745
UPID
US90-0658517
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MML U/85 · Seattle, WAZoning MML U/85 · permitted uses
MML U/85 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Municipal Code
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$4.6M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
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
1969
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Tall Stacks LLC
Entity
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2025
—
Tall Stacks LLC
Gck Properties LLC
Warranty Deed
$2,860,000 · First Citizens Bank & Trust Co
Jun 11, 2024
—
Gck Properties LLC
Victors Action LLC
Quit Claim Deed
related
—
Jun 11, 2024
$2,850,000
Tall Stacks LLC
Gck Properties LLC
Land Contract
$2,500,000 · Gck Properties LLC
Jun 12, 2006
—
Victors Action LLC
Victor,duane C
Quit Claim Deed
related
—
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.
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