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Property profile & analytics
OFF-MARKET
Estimated value
$44,500,000
Distribution centers
6701 Marginal S Way Seattle, WA 98108-3406
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1526742
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
124,383 SF
Lot
6.96 ac (303,200 SF)
Zoning code
MML U/85
APN
536720-4080
UPID
US90-1526742
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
-
Seattle Distribution Center Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$44.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$52.23M
Blend (final)
Blend
$44.50M
Owner & transaction history
Vaf I Deattle Dc LLC · 2 yrs held
Vaf I Deattle Dc LLC
since 2024
Last sale
$44.5M
5 recorded transactions
Zoning & alternative use
MML U/85 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Municipal Code
Top alternative use upside
Restaurant
$65.3M
+72.2%
Commercial (general)
$62.9M
+66.1%
Auto repair, garage
$51.2M
+35.0%
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
$44,500,000
ML approach
$44,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$37,900,000
Current use
RESTAURANT
$65,270,000
Change: +72% · Conversion: Difficult
COMMERCIAL (GENERAL)
$62,940,000
Change: +66% · Conversion: Difficult
AUTO REPAIR, GARAGE
$51,170,000
Change: +35% · Conversion: Easy
RETAIL STORES
$49,875,000
Change: +32% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$44,115,000
Change: +16% · Conversion: Difficult
OFFICE BUILDING
$43,955,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$42,770,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$44.50M
Range $40.05M – $48.95M · ±10% · vs last sale $44.50M (May 22 2024)
Last sale anchor
$44.50M
May 22 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
$358 / 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
$396,377
Tax year 2024
Assessed value
$33,330,200
Assessed 2023
Previous assessed
$33,330,200
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$13,644,000
Assessed improvement
$19,686,200
Land market value
$13,644,000
Improvement market value
$19,686,200
Total market value
$33,330,200
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
Off-Market
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Total area
124,383 SF
Lot
6.96 ac (303,200 SF)
Zoning code
MML U/85
APN
536720-4080
UPID
US90-1526742
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
$37.9M
RESTAURANT
Est. value
$65.3M
COMMERCIAL (GENERAL)
Est. value
$62.9M
AUTO REPAIR, GARAGE
Est. value
$51.2M
RETAIL STORES
Est. value
$49.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$44.1M
OFFICE BUILDING
Est. value
$44.0M
MEDICAL BUILDING
Est. value
$42.8M
WAREHOUSE, STORAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Lot
6.96 ac
Current owner
From public records · entity-resolved
Vaf I Deattle Dc LLC
Entity
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
Aug 27, 2024
—
Vaf I Seattle Dc LLC
—
Deed
related
$69,100,000 · Sdf Reit Holdco LLC
May 22, 2024
$44,500,000
Vaf I Deattle Dc LLC
Clpf Seattle Distribution Center LP
Special Warranty Deed
—
Aug 25, 2004
$13,775,000
Clpf-seattle Distribution Ctr
Schnitzer Investment Corp
Grant Deed
—
—
—
Clpf-seattle Distribution Cent
—
Deed Of Trust
related
$185,000,000 · Principal Life Insurance Co
—
—
Clpf-seattle Distribution Ctr
—
Deed Of Trust
related
$8,090,000 · Jackson National Life Ins Co
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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