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Property profile & analytics
OFF-MARKET
Estimated value
$2,910,000
Parking lots & garages
5507 Airport S Way, Seattle, WA 98108-2202
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-1962729
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Lot
0.15 ac (6,500 SF)
Zoning code
IG2 U/85
APN
386840-0165
UPID
US90-1962729
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
$3.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.91M
Owner & transaction history
Berts Building LLC · 3 yrs held
Berts Building LLC
since 2023
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
IG2 U/85 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,125,000
ML approach
$3,125,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.91M
Range $2.62M – $3.20M · ±10% · vs last sale $2.70M (Jun 16 2025)
Last sale anchor
$2.70M
Jun 16 2025
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
—
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
$3,881
Tax year 2022
Assessed value
$325,000
Assessed 2022
Previous assessed
$325,000
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$325,000
Land market value
$325,000
Total market value
$325,000
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Heating
NONE
Lot
0.15 ac (6,500 SF)
Zoning code
IG2 U/85
APN
386840-0165
UPID
US90-1962729
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/85 · Seattle, WA
Zoning IG2 U/85 · permitted uses
IG2 U/85 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Lot
0.15 ac
Current owner
From public records · entity-resolved
Berts Building LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2914 SW AVALON WAY STE A, SEATTLE, WA 98126-2375
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 7, 2023
—
Berts Building LLC
Fluckinger Building LLC
Quit Claim Deed
related
—
Mar 3, 2023
$1,115,000
Curtis Twiggs
Ruin Properties 2 LLC
Warranty Deed
$961,018 · Fairway Independent Mortgage Corp
Dec 15, 2022
—
City Of Bothell
Harbour Homes LLC
Warranty Deed
—
Jun 27, 2022
—
Ruin Properties 2 LLC
Ruin Properties LLC
Quit Claim Deed
related
$3,000,000 · Colony American Finance Lender LLC
Jun 17, 2022
$215,000
Ed Properties 2 LLC
Flory A Callueng
Warranty Deed
$169,500 · Legacy Group Capital LLC
Apr 21, 2022
$440,000
Widener Dillion
Michael Robert Simmons
Warranty Deed
$455,840 · Fairway Independent Mortgage Corp
Mar 14, 2022
$800,000
Ruin Properties LLC
Carson L Cox
Warranty Deed
—
Apr 30, 2021
$500,000
Jms Homes INC
Ronald D Watkins
Warranty Deed
$685,000 · Blueprint Capital Reit INC
Jan 22, 2020
$260,000
Fluckinger Building LLC
Airport Way Properties LLC
Warranty Deed
—
Apr 12, 2019
$4,250,000
Airport Way Properties LLC
David M Combs
Warranty Deed
$3,265,000 · Banner Bank
Apr 10, 1992
$375,000
Combs David M
Aeronautical Mac
Grant Deed
$333,700 · Company Misc
—
—
David M Combs
—
Deed Of Trust
related
$325,000 · Viking Community 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.
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