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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
700 12th E Ave, Seattle, WA 98102
Entity Owned
9-yr Hold
Free & Clear
Property ID
US90-0829898
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,956 SF
Lot
0.35 ac (15,065 SF)
Zoning code
MIO-65-NC2P-55 (M)
APN
225450-0805
UPID
US90-0829898
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
-
Shell Gas Station
-
Circle K | Car Wash Car Wash
-
Circle K Grocery & Convenience Store
-
Amazon Locker - Chickpea Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Spe Properties LLC · 9 yrs held
Spe Properties LLC
since 2017
3 recorded transactions
Zoning & alternative use
MIO-65-NC2P-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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$65,656
Tax year 2024
Assessed value
$5,298,500
Assessed 2023
Previous assessed
$5,298,500
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$4,444,100
Assessed improvement
$854,400
Land market value
$4,444,100
Improvement market value
$854,400
Total market value
$5,298,500
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
AC.PACKAGE
Stories
1
Total area
1,956 SF
Lot
0.35 ac (15,065 SF)
Zoning code
MIO-65-NC2P-55 (M)
APN
225450-0805
UPID
US90-0829898
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
MIO-65-NC2P-55 (M) · Seattle, WA
Zoning MIO-65-NC2P-55 (M) · permitted uses
MIO-65-NC2P-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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
GAS
Cooling
Yes
Stories
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
Spe Properties LLC
Entity
Free & Clear · 9 yrs held
Mailing address
2780 GTWY RD, CARLSBAD, CA 92009-1730
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2017
$4,030,000
Spe Properties LLC
Mcewing Properties LLC
Grant Deed
—
Aug 17, 2000
—
Mcewing Properties LLC
Mcewing,olga M
Quit Claim Deed
related
—
Jan 22, 1991
$213,098
Texaco INC - Tax Dept
Shell Oil Compan
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.
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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