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Property profile & analytics
FOR LEASE
Hotels
618 John St, Seattle, WA 98109
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-0888059
For Lease
1 / 2
$24,715,000
618 John St, Seattle, WA 98109
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1959
Construction
CONCRETE
Total area
113,173 SF
Lot
0.76 ac (33,214 SF)
Zoning code
SM-UP 160 (M)
APN
199120-0730
UPID
US90-0888059
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
Current use
Occupant on record · Public records
-
pike market High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$26.05M
Blend (final)
Blend
$24.72M
Owner & transaction history
618 John Street LLC · 5 yrs held
618 John Street LLC
since 2021
Last sale
$24.3M
7 recorded transactions
Zoning & alternative use
SM-UP 160 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$40.1M
+7.0%
Medical building
$38.9M
+3.8%
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
$24,210,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$37,500,000
Current use
APARTMENT HOUSE (5+ UNITS)
$40,140,000
Change: +7% · Conversion: Difficult
MEDICAL BUILDING
$38,915,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$24.72M
Range $22.24M – $27.19M · ±10% · vs last sale $24.30M (Feb 26 2021)
Last sale anchor
$24.30M
Feb 26 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
$218 / 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
$195,042
Tax year 2022
Assessed value
$23,250,800
Assessed 2022
Previous assessed
$23,250,800
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$23,249,800
Assessed improvement
$1,000
Land market value
$23,249,800
Improvement market value
$1,000
Total market value
$23,250,800
Applied tax rate
11.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
For Lease
Year built
1959
Construction
CONCRETE
Heating
HOT WATER
Stories
5
Total area
113,173 SF
Lot
0.76 ac (33,214 SF)
Zoning code
SM-UP 160 (M)
APN
199120-0730
UPID
US90-0888059
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
SM-UP 160 (M) · Seattle, WA
Zoning SM-UP 160 (M) · permitted uses
SM-UP 160 (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
HOTEL/MOTEL Current
Est. value
$37.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$40.1M
MEDICAL BUILDING
Est. value
$38.9M
HOTEL/MOTEL Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1959
Construction
CONCRETE
Heating
HOT WATER
Stories
5
Lot
0.76 ac
Current owner
From public records · entity-resolved
618 John Street LLC
Entity
Mailing address
680 E COLORADO BLVD STE #300, PASADENA, CA 91101-6147
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2021
—
618 John Street LLC
—
Deed
related
$15,420,000 · East West Bank
Feb 26, 2021
$24,300,000
618 John Street LLC
Blackstone Seattle LLC
Bargain And Sale Deed
—
Jun 11, 2018
—
Blackstone Seattle LLC
—
Deed
related
$18,000,000 · East West Bank
Nov 7, 2014
—
Ok S Ham
Choi,jae C
Quit Claim Deed
related
—
Nov 7, 2014
$19,000,000
Blackstone Seattle LLC
Ok Sun Ham
Warranty Deed
$14,350,000 · East West Bank
Jun 5, 2001
$8,880,000
Jae C Choi
Business Plans & Strategies In
Grant Deed
$4,070,000 · Nara Bank
Oct 25, 2000
—
Olympic Coast Investment INC
Frontier Bank
Quit Claim Deed
related
—
Jan 9, 1990
$3,200,000
Plans Business
Snopko,frank&cha
Grant Deed
$2,976,000 · Us Creditcorp
—
—
Business Plans
—
Deed Of Trust
related
$525,000 · Individual
—
—
Jae C Choi
—
Deed Of Trust
related
—
—
—
Jae C Choi
—
Deed Of Trust
related
$80,800 · Hye J Leem
—
—
Business Plans
—
Deed Of Trust
related
$680,000 · Olympic Coast Investment INC
—
—
Jae C Choi
—
Deed Of Trust
related
$237,000 · Roses Enterprises INC
—
—
Jae C Choi
—
Deed Of Trust
related
—
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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