5903 24th NW Ave Seattle, WA 98107-3207
Entity Owned
1-yr Hold
~
Est. High Equity
Estimated value (blended)
$1.80M
Range $1.62M – $1.98M (±10%)
Implied cap rate
4.10%
In-place · NOI ÷ last sale
Property ID
US90-0795919
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1913
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,000 SF
Lot
0.11 ac (5,000 SF)
Zoning code
MR RC (M)
APN
276760-3920
UPID
US90-0795919
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.80M
CAP Approach
CAP
$1.15M
Comparable Approach
Comparable
$1.82M
Blend (final)
Blend
$1.80M
Owner & transaction history
since 2024
Last sale
$1.8M
6 recorded transactions
Zoning & alternative use
MR RC (M) · Seattle, WA
Top alternative use upside
Restaurant
$2.6M
+30.9%
Commercial (general)
$2.5M
+26.2%
Auto repair, garage
$2.1M
+2.6%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
7 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.80M
Value range
$1.62M – $1.98M
±10% around blend
Estimated value / SF
$360 / SF
Confidence
High
7 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
70
$1.62M
blend $1.80M
$1.98M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,000 SF
Lot area
0.11 ac
Year built
1913
Stories
1
APN
276760-3920
Assessed value
$1,899,300
Annual tax
$20,048
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.15M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.25M
@ 6.5% CAP return
$1.15M
@ 7% CAP return
$1.07M
4
Sales comparison
Partial preview
Sales approach indication
$3.29M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.2 mi away · 3,810 SF
3.0 mi away · 3,546 SF
3.1 mi away · 4,100 SF
3.2 mi away · 6,000 SF
4.7 mi away · 4,000 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.80M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 270 sales
$401
-10%
County 399 sales
$392
-8%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $360/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+31%
vs current-use indication
Commercial (general)
Auto Repair, Garage
Retail Stores · current use
Apartment House (5+ Units)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
4.10%
Implied, in-place cap rate for this retail space
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.10%
9.0%
NOI (est.)
$126k *
Last sale · Sep 2024
$1.80M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.07M
Move the market yield to see immediate price impact.
Value / SF
$615
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
3.60%4.10%4.60%
$113k
$3.15M
$2.77M
$2.47M
$126k
$3.50M
$3.07M
$2.74M
$139k
$3.85M
$3.38M
$3.01M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$2.00M
1.7 mi · Sep 2025 · $383/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$20,048
Tax year 2024
Assessed value
$1,899,300
Assessed 2023
Previous assessed
$1,899,300
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$1,350,000
Assessed improvement
$549,300
Land market value
$1,350,000
Improvement market value
$549,300
Total market value
$1,899,300
Applied tax rate
13.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1913
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Total area
5,000 SF
Lot
0.11 ac (5,000 SF)
Zoning code
MR RC (M)
APN
276760-3920
UPID
US90-0795919
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MR RC (M) · Seattle, WAZoning MR RC (M) · permitted uses
MR RC (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1913
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Lot
0.11 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
MR RC (M)
Jurisdiction
Seattle, WA
Recorded code
MR RC (M)
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MR RC (M) in Seattle, WA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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 5903 24th NW Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
