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Property profile & analytics
OFF-MARKET
Estimated value
$3,100,000
Banks
5602 15th NW Ave Seattle, WA 98107-5203
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-1208571
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1955
Construction
WOOD
Total area
7,407 SF
Lot
0.55 ac (24,000 SF)
Zoning code
NC3P-75 (M)
APN
276810-0330
UPID
US90-1208571
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.10M
Owner & transaction history
15th Avenue Nw LLC · 4 yrs held
15th Avenue Nw LLC
since 2022
Last sale
$3.4M
4 recorded transactions
Zoning & alternative use
NC3P-75 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.9M
+8.1%
Commercial (general)
$3.8M
+4.2%
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
$2,760,000
ML approach
$2,845,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$3,595,000
Current use
RESTAURANT
$3,885,000
Change: +8% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,750,000
Change: +4% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,045,000
Change: -15% · Conversion: Difficult
RETAIL STORES
$2,970,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$3.10M
Range $2.79M – $3.41M · ±10% · vs last sale $3.40M (Jul 1 2022)
Last sale anchor
$3.40M
Jul 1 2022
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
$419 / 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
$80,538
Tax year 2022
Assessed value
$9,361,000
Assessed 2022
Previous assessed
$9,361,000
+0.0% YoY
Effective rate
0.86%
On assessed value
Assessed land
$9,360,000
Assessed improvement
$1,000
Land market value
$9,360,000
Improvement market value
$1,000
Total market value
$9,361,000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1955
Construction
WOOD
Heating
OTHER
Cooling
OTHER
Stories
1
Total area
7,407 SF
Lot
0.55 ac (24,000 SF)
Zoning code
NC3P-75 (M)
APN
276810-0330
UPID
US90-1208571
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3P-75 (M) · Seattle, WA
Zoning NC3P-75 (M) · permitted uses
NC3P-75 (M) · 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.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$3.6M
RESTAURANT
Est. value
$3.9M
COMMERCIAL (GENERAL)
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$3.0M
RETAIL STORES
Est. value
$3.0M
FINANCIAL BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1955
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
15th Avenue Nw LLC
Entity
Free & Clear · 4 yrs held
Mailing address
4039 21ST AVE W STE #306, SEATTLE, WA 98199-1252
Ownership since
2022
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
Jul 1, 2022
$3,400,000
15th Avenue Nw LLC
A O Nordheim
Warranty Deed
—
Jun 13, 2006
—
15th Ave Nw LLC
Slattery,michael C & Judith C
Quit Claim Deed
related
—
Aug 5, 1996
$770,000
Michael C Slatery
Us Bank Of Washington
Grant Deed
—
—
—
Michael C Slattery
—
Deed Of Trust
related
$650,000 · Us 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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