Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6421 15th NW Ave Seattle, WA 98107-5903

    • Office Properties & Spaces
    • 5,770 SF
    • 0.12 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2021
    $2,600,000
    Value Estimations
    $2,495,000
    Show details
    Cap Rate Potential
    2.9%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US90-0696221
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Rice N' Noodle Zone / Asian Fusion Restaurant / Chinese Restaurant
    • Seattle Mortgage / Mortgage Lender
    • BonSemi Thai restaurant / Thai Restaurant
    • Umami Ballard / Japanese Restaurant
    • Achi Thai Restaurant / Thai Restaurant / Asian Restaurant

    Property Details for 6421 15th NW Ave

    Year built
    2000
    Construction
    WOOD
    Lot size
    0.12 lot acres
    Property size
    5,770 SF
    Zone code
    NC3P-55 (M)
    Property type
    Office Properties & Spaces
    APN
    276760-0545
    APU
    2767600545

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,590,000
      ML approach
      $2,620,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,203,000
      Market price range: $1.23M - $5.52M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,920,000
      Current use
      RESTAURANT
      $3,030,000
      Change: +4% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,375,000
      Change: -19% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.377
    Latitude
    47.6758
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $21,051
    $1,256,100
    $1,213,100
    $2,469,200
    -
    $1,256,100
    $1,213,100
    $2,469,200

    Comparable in this City

    • Value Estimation
      $290,000
      1,550 SF

      6319 24th NW Ave

      OFFICE (GENERAL) • 1,550 SF
      6319 24th NW Ave, Seattle, WA 98107-2423
      View Details
    • Value Estimation by Request
      10,056 SF

      2318 Market St

      Restaurants • 10,056 SF
      2318 Market St, Seattle, WA 98107
      View Details
    • Value Estimation
      $2,580,000
      5,118 SF

      1100 52nd St

      OFFICE (GENERAL) • 5,118 SF
      1100 52nd St, Seattle, WA 98107-5129
      View Details
    • Value Estimation
      $4,875,000
      4,272 SF

      5401 Leary NW Ave

      OFFICE (GENERAL) • 4,272 SF
      5401 Leary NW Ave, Seattle, WA 98107-4070
      View Details
    • Value Estimation by Request
      1,056 SF

      5440 Leary Ave

      Office Properties & Spaces • 1,056 SF
      5440 Leary Ave, Seattle, WA 98107
      View Details
    • Value Estimation
      $380,000
      11,589 SF

      2319 Market St

      OFFICE (GENERAL) • 11,589 SF
      2319 Market St, Seattle, WA 98107-4027
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,950 SF

      Seattle Waterfront Creative Office

      4,950 SF Class A Office, Fremont
      114 Canal St, Seattle, WA 98107
      View Details
    • Contact for pricing

      Fremont Canal Workplace, Showroom, Retail

      Well-designed building with water views near Fremont and Downtown.
      114 NW Canal St, Seattle, WA 98107
      View Details
    • Contact for pricing
      206,688 SF

      Industrial Warehouse & Office Space

      Industrial warehouse and office space with marina access in Seattle.
      5309 Shilshole Ave NW, Seattle, WA 98107
      View Details
    • $14,200,000
      22 SF

      Seattle Marine Facility For Sale

      Marine facility with shop, office, boat storage, and dock.
      5350 30Th Ave NW Seattle, Seattle, WA 98107
      View Details
    • $1,250,000
      2,770 SF

      Updated Triplex in Seattle

      Well-maintained 2,770 SF triplex with immediate income potential.
      5506 7Th Ave NW, Seattle, WA 98107
      View Details
    • $1,700,000
      1,722 SF

      Prime Ballard Avenue Corner Restaurant

      Fully leased restaurant property in Seattle's Ballard neighborhood.
      5239 Ballard Ave NW, Seattle, WA 98107
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      42,965 SF

      Seattle Executive Office Suites

      Ballard Office Space: 4 Suites Available
      1112 52Nd St, Seattle, WA 98107
      View Details
    • Contact for pricing
      1,056 SF

      Seattle Executive Office Suite

      Modern Office, 1056 sq ft, King County
      5440 Leary Ave, Seattle, WA 98107
      View Details
    • $20 SF/Yr
      10,176 SF

      Seattle Sports Medicine Clinic Space

      10,176 SF Medical Office Space for Lease
      1551 NW 54TH ST, SEATTLE, WA 98107, SEATTLE, WA 98107
      View Details
    • $20 SF/Yr
      15,132 SF

      Renton Flex Space Available

      Flex space featuring offices and warehouse in Renton, Washington.
      425-445 SW 41St St, Renton, WA 98107
      View Details
    • $32 SF/Yr
      1,560 SF

      Seattle Office Space Available

      Office space available for lease in Seattle, Washington.
      5470 Shilshole Ave Northwest, Seattle, WA 98107
      View Details
    • $20 SF/Yr
      6,736 SF

      New Construction Class A Office

      Sublease opportunity in new Class A office space.
      5601-5701 6Th Ave S, Seattle, WA 98107
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6421 15th NW Ave
    Seattle, WA 98107-5903
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.