5959 Corson S Ave Seattle, WA 98108-2605
Warehouses
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Entity Owned
11-yr Hold
~
Est. High Equity
For Lease
Contact for pricing
5959 Corson S Ave, Seattle, WA 98108-2605
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Estimated value (blended)
$5.86M
Range $5.27M – $6.44M (±10%)
Property ID
US90-1493104
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
34,672 SF
Lot
3.17 ac (137,943 SF)
Zoning code
UI U/65
APN
273810-0610
UPID
US90-1493104
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
-
Physician
-
Medical Clinic
-
Training Center
-
Medical Clinic
-
Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.87M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.86M
Owner & transaction history
since 2015
6 recorded transactions
Zoning & alternative use
UI U/65 · Seattle, WA
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.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 7 comparables with addresses
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
$5.86M
Value range
$5.27M – $6.44M
±10% around blend
Estimated value / SF
$169 / SF
Confidence
High
7 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
70
Income certainty
100
$5.27M
blend $5.86M
$6.44M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
34,672 SF
Lot area
3.17 ac
Year built
1958
Stories
2
APN
273810-0610
Assessed value
$11,766,700
Annual tax
$280,494
3
Income approach: direct capitalization
Partial preview
Income approach indication
$5.87M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$6.35M
@ 6.5% CAP return
$5.87M
@ 7% CAP return
$5.45M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$280,494
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$10.06M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.4 mi away · 30,855 SF
7.4 mi away · 41,134 SF
8.6 mi away · 25,200 SF
8.9 mi away · 38,959 SF
12.2 mi away · 24,815 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.86M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 33 sales
$305
-45%
Submarket 209 sales
$295
-43%
County 375 sales
$287
-41%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $169/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
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
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
910,981.82%
Selected cap rate for this warehouses
Derived from the Seattle market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$200k *
* 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$21
Move the market yield to see immediate price impact.
Value / SF
$0
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
910,981.32%910,981.82%910,982.32%
$180k
$19
$19
$19
$200k
$22
$21
$21
$220k
$24
$24
$24
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
$7.30M
1.4 mi · Aug 2025 · $300/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$280,494
Tax year 2023
Assessed value
$11,766,700
Assessed 2023
Previous assessed
$11,766,700
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$4,621,100
Assessed improvement
$7,145,600
Land market value
$4,621,100
Improvement market value
$7,145,600
Total market value
$11,766,700
Applied tax rate
10.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
2
Total area
34,672 SF
Lot
3.17 ac (137,943 SF)
Zoning code
UI U/65
APN
273810-0610
UPID
US90-1493104
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
UI U/65 · Seattle, WAZoning UI U/65 · permitted uses
UI U/65 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Buildings
2
Lot
3.17 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
UI U/65
Jurisdiction
Seattle, WA
Recorded code
UI U/65
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for UI U/65 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.
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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.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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