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Property profile & analytics
OFF-MARKET
Estimated value
$1,230,000
Commercial land
609 Mercer Pl Seattle, WA 98119-3699
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US90-2061554
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1952
Construction
WOOD FRAME
Total area
7,302 SF
Lot
0.21 ac (9,142 SF)
Zoning code
C2-55 (M)
APN
387990-1710
UPID
US90-2061554
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
by Request
CAP Approach
CAP
$1.49M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.23M
Owner & transaction history
Oly-ida Canvas LLC · 11 yrs held
Oly-ida Canvas LLC
since 2014
6 recorded transactions
Zoning & alternative use
C2-55 (M) · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,605,000
6.5%
$1,485,000
7%
$1,375,000
Blend value · Realmo final
$1.23M
Range $1.11M – $1.35M · ±10%
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
$168 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$18,959
Tax year 2024
Assessed value
$1,828,400
Assessed 2023
Previous assessed
$1,828,400
+0.0% YoY
Effective rate
1.04%
On assessed value
Assessed land
$1,828,400
Land market value
$1,828,400
Total market value
$1,828,400
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1952
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
2
Total area
7,302 SF
Lot
0.21 ac (9,142 SF)
Zoning code
C2-55 (M)
APN
387990-1710
UPID
US90-2061554
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C2-55 (M) · Seattle, WA
Zoning C2-55 (M) · permitted uses
C2-55 (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.
Building & site characteristics
From public records
Year built
1952
Construction
WOOD FRAME
Heating
FORCED AIR
Stories
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
Oly-ida Canvas LLC
Entity
Free & Clear · 11 yrs held
Mailing address
1100 PO BOX 4747TH PL STE #200, OAK BROOK, IL 60522-4747
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 5, 2014
$39,938,500
Oly-ida Canvas LLC
Gre Queen Anne LLC
Grant Deed
—
Jul 26, 2011
$675,000
Gre Queen Anne LLC
Mastro Michael R
Grant Deed
—
Sep 18, 2006
$2,950,000
Michael R Mastro
600 Elliott LLC
Warranty Deed
$850,000 · 600 Elliott LLC
Jun 24, 1998
$850,000
Workshops Seattle Elliott LLC
Uekigumi Co Ltd
Grant Deed
$550,000 · Seller
Jan 25, 1991
$660,000
Elliot Bay Joint Ventu
Butcher
Grant Deed
$481,800 · Seller
—
—
Workshops Seattle Elliott LLC
—
Deed Of Trust
related
$245,000 · Northstar 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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