Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$60,765,000
Medical Office Space
701 Madison N Ave Seattle, WA 98110-1770
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US90-0825602
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2008
Construction
CONCRETE
Total area
302,902 SF
Lot
0.33 ac (14,160 SF)
Zoning code
NC3-200 (M)
APN
859040-0395
UPID
US90-0825602
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$66.99M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$60.77M
Owner & transaction history
Bti Seventh & Madison LP · 13 yrs held
Bti Seventh & Madison LP
since 2012
6 recorded transactions
Zoning & alternative use
NC3-200 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping district that serves the surrounding neighborhood and a larger community, citywide, or regional clientele; that provides comparison shopping for a wide range of retail goods and services; that incorporates offices, business supp…
Zone name
Neighborhood Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
14.75 ac
Source
Realmo
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$72,565,000
6.5%
$66,985,000
7%
$62,200,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$89,475,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$60.77M
Range $54.69M – $66.84M · ±10%
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
$201 / 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
$1,082,124
Tax year 2022
Assessed value
$132,954,000
Assessed 2022
Previous assessed
$132,954,000
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$8,991,600
Assessed improvement
$123,962,400
Land market value
$8,991,600
Improvement market value
$123,962,400
Total market value
$132,954,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2008
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
9
Total area
302,902 SF
Lot
0.33 ac (14,160 SF)
Zoning code
NC3-200 (M)
APN
859040-0395
UPID
US90-0825602
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC3-200 (M) · Seattle, WAZoning NC3-200 (M) · permitted uses
NC3-200 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to promote neighborhood commercial activities to support or encourage a pedestrian-oriented shopping district that serves the surrounding neighborhood and a larger community, citywide, or regional clientele; that provides comparison shopping for a wide range of retail goods and services; that incorporates offices, business support services, and residences that are compatible with the retail character of the area. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Neighborhood Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
14.75 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$89.5M
WAREHOUSE, STORAGE
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
2008
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
9
Lot
0.33 ac
Current owner
From public records · entity-resolved
Bti Seventh & Madison LP
Entity
Mailing address
PO BOX 4900, SCOTTSDALE, AZ 85261-4900
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2019
—
Salus Seventh & Madison LLC
—
Deed
related
$61,000,000 · Wells Fargo Bank NA
Dec 21, 2017
—
Salus Seventh & Madison LLC
—
Loan Modification
related
$50,000,000 · Wells Fargo Bk
Dec 18, 2012
$99,964,000
Bti Seventh & Madison LP
Seventh & Madison LLC
Special Warranty Deed
$50,000,000 · Wells Fargo Bank NA
Nov 22, 2010
$30,750,000
Seventh & Madison LLC
Sa Marion Dev LLC
Quit Claim Deed
related
—
Sep 1, 2010
—
Sa Marion Dev LLC
Marion Dev Co LLC
Quit Claim Deed
related
—
Aug 3, 2007
$2,859,087
Marion Dev Co LLC
Marion
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 701 Madison N Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
