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Property profile & analytics
FOR LEASE
Distribution centers
660 S Othello St Seattle, WA 98108
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0779190
For Lease
Contact for pricing
660 S Othello St, Seattle, WA 98108
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
119,661 SF
Lot
3.54 ac (154,000 SF)
Zoning code
MML U/85
APN
213620-0695
UPID
US90-0779190
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
-
Provisioners Warehouse and Transportation Services Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$23.00M
CAP Approach
CAP
$20.24M
Comparable Approach
Comparable
$30.70M
Blend (final)
Blend
$23.00M
Owner & transaction history
Cref4 Othello Street Owner LLC · 2 yrs held
Cref4 Othello Street Owner LLC
since 2024
Last sale
$23.0M
5 recorded transactions
Zoning & alternative use
MML U/85 · Seattle, WA
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
$23,000,000
ML approach
$23,000,000
CAP Approach
CAP Return
Estimation
6%
$21,920,000
6.5%
$20,235,000
7%
$18,790,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$36,460,000
Current use
Blend value · Realmo final
$23.00M
Range $20.70M – $25.30M · ±10% · vs last sale $23.00M (May 31 2024)
Last sale anchor
$23.00M
May 31 2024
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
$192 / 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
$226,632
Tax year 2024
Assessed value
$19,588,800
Assessed 2023
Previous assessed
$19,588,800
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$6,160,000
Assessed improvement
$13,428,800
Land market value
$6,160,000
Improvement market value
$13,428,800
Total market value
$19,588,800
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Stories
1
Total area
119,661 SF
Lot
3.54 ac (154,000 SF)
Zoning code
MML U/85
APN
213620-0695
UPID
US90-0779190
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MML U/85 · Seattle, WAZoning MML U/85 · permitted uses
MML U/85 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Municipal Code
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$36.5M
WAREHOUSE, STORAGE Current
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
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Lot
3.54 ac
Current owner
From public records · entity-resolved
Cref4 Othello Street Owner LLC
Entity
Mailing address
1345 AVE OF THE AMERICAS FL, NEW YORK, NY 10105-0302
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2024
$23,000,000
Cref4 Othello Street Owner LLC
Fm 660 South Othello LLC
Bargain And Sale Deed
$17,250,000 · Fm 660 South Othello LLC
Aug 11, 2021
—
Fm 660 South Othello LLC
Charles & Emma Frye Free Public Art
Quit Claim Deed
related
—
Nov 17, 2004
$6,980,292
Charles Publi
Pioneer Human Services
Warranty Deed
—
Nov 2, 1998
$6,300,000
Pioneer Human Services
Othello Street Warehouse Corp
Grant Deed
$10,997,746 · Us Bank
Oct 24, 1988
$2,900,000
Othello St Warehouse Corp
B D Partnership
Grant Deed
—
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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