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Property profile & analytics
FOR LEASE
Medical Office Space
601 S Carr Rd Renton, WA 98055
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1346742
For Lease
1 / 7
$10,510,000
601 S Carr Rd, Renton, WA 98055
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1989
Construction
CONCRETE
Total area
36,625 SF
Lot
2.22 ac (96,703 SF)
Zoning code
CO
APN
312305-9006
UPID
US90-1346742
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
$9.36M
CAP Approach
CAP
$8.10M
Comparable Approach
Comparable
$12.38M
Blend (final)
Blend
$10.51M
Owner & transaction history
Accretive Seattle Partners LLC · 4 yrs held
Accretive Seattle Partners LLC
since 2021
Last sale
$10.8M
4 recorded transactions
Zoning & alternative use
CO · Renton, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$15.1M
+19.7%
Retail stores
$14.7M
+16.6%
Apartment house (5+ units)
$13.0M
+3.1%
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 Renton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Renton 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
$11,635,000
ML approach
$9,355,000
CAP Approach
CAP Return
Estimation
6%
$8,775,000
6.5%
$8,100,000
7%
$7,520,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$12,595,000
Current use
AUTO REPAIR, GARAGE
$15,070,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$14,685,000
Change: +17% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$12,990,000
Change: +3% · Conversion: Moderate
OFFICE BUILDING
$12,945,000
Change: +3% · Conversion: Easy
WAREHOUSE, STORAGE
$10,820,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$10.51M
Range $9.46M – $11.56M · ±10% · vs last sale $10.80M (Dec 28 2021)
Last sale anchor
$10.80M
Dec 28 2021
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
$287 / 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
$102,970
Tax year 2022
Assessed value
$10,367,900
Assessed 2022
Previous assessed
$10,367,900
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$2,127,400
Assessed improvement
$8,240,500
Land market value
$2,127,400
Improvement market value
$8,240,500
Total market value
$10,367,900
Applied tax rate
2,100.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1989
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
4
Total area
36,625 SF
Lot
2.22 ac (96,703 SF)
Zoning code
CO
APN
312305-9006
UPID
US90-1346742
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
CO · Renton, WA
Zoning CO · permitted uses
CO · Renton, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Renton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$12.6M
AUTO REPAIR, GARAGE
Est. value
$15.1M
RETAIL STORES
Est. value
$14.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$13.0M
OFFICE BUILDING
Est. value
$12.9M
WAREHOUSE, STORAGE
Est. value
$10.8M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1989
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
4
Lot
2.22 ac
Current owner
From public records · entity-resolved
Accretive Seattle Partners LLC
Entity
Mailing address
301 SHIPYARD WAY STE B, NEWPORT BEACH, CA 92663-4470
Ownership since
2021
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
Dec 8, 2025
—
Accretive Seattle Partners LLC
—
Deed
related
$12,300,000 · Rra Real Estate Debt Fund III Subsidiary
Dec 28, 2021
$10,800,000
Accretive Seattle Partners LLC
Pacmed Clinics
Special Warranty Deed
$9,885,000 · Readycap Commercial LLC
Jun 2, 2003
—
Pacmed Clinics
Pacific Hospital Preservation
Quit Claim Deed
related
—
—
—
Pacific Hospital Preservation
—
Deed Of Trust
related
$4,250,000 · Seafirst 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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