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    Property profile & analytics

    701 Madison N Ave Seattle, WA 98110-1770

    • Medical Office Space
    • 302,902 SF
    • 0.33 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0825602
    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

    • Medical Office Space

    Property Details for 701 Madison N Ave

    Year built
    2008
    Construction
    CONCRETE
    Lot size
    0.33 lot acres
    Property size
    302,902 SF
    Zone code
    NC3-200 (M)
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    859040-0395
    APU
    8590400395

    Value Estimations

    based on Realmo’s proprietary methodology

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.329
    Latitude
    47.6071
    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
    $1,082,124
    $8,991,600
    $123,962,400
    $132,954,000
    -
    $8,991,600
    $123,962,400
    $132,954,000

    Comparable in this City

    • Value Estimation
      $3,080,000
      17,548 SF

      8804 Madison N Ave

      MEDICAL BUILDING • 17,548 SF
      8804 Madison N Ave, Bainbridge Island, WA 98110-1815
      View Details
    • Value Estimation
      $545,000
      2,838 SF

      233 Madison S Ave

      MEDICAL BUILDING • 2,838 SF
      233 Madison S Ave, Bainbridge Island, WA 98110
      View Details
    • Value Estimation
      $6,280,000
      29,720 SF

      1344 Wintergreen NE Ln

      MEDICAL BUILDING • 29,720 SF
      1344 Wintergreen NE Ln, Bainbridge Island, WA 98110-5118
      View Details
    • Value Estimation
      $1,025,000
      4,833 SF

      525 High School NW Rd

      DENTAL BUILDING • 4,833 SF
      525 High School NW Rd, Bainbridge Island, WA 98110-1606
      View Details
    • Value Estimation
      $1,065,000
      5,200 SF

      727 Ericksen NE Ave

      DENTAL BUILDING • 5,200 SF
      727 Ericksen NE Ave, Bainbridge Island, WA 98110-1882
      View Details
    • Value Estimation
      $730,000
      5,008 SF

      730 Ericksen NE Ave

      DENTAL BUILDING • 5,008 SF
      730 Ericksen NE Ave, Bainbridge Island, WA 98110-2837
      View Details

    Similar Nearby for Sale

    • $545,000
      Pending

      Seabreeze Condominium Office Condo

      Fully leased medical and retail space in Seabreeze Condominiums.
      123 Bjune Dr SE, Bainbridge Island, WA 98110
      View Details
    • $545,000
      1,313 SF

      Fully Leased Mixed-Use Condo

      Leased medical and retail space in mixed-use complex.
      123 Bjune Dr SW, Bainbridge Island, WA 98110
      View Details
    • $273,000
      574 SF

      Class A Office Space Condo

      Class A condominium office space in a prime Bainbridge building.
      271 Wyatt Way NE, Bainbridge Island, WA 98110
      View Details
    • $985,000
      2,049 SF

      Harbor Square Corner Office Space

      Corner office space near Bainbridge Island ferry terminal with parking.
      776 Winslow Way E, Bainbridge Island, WA 98110
      View Details
    • $2,400,000

      Class A Bainbridge Island Office

      Fully occupied Class A office building with stable tenants.
      840 Madison Ave N, Bainbridge Island, WA 98110
      View Details
    • $2,400,000

      Class A Office Building Investment

      Fully occupied Class A office building on Bainbridge Island.
      840 Madison Ave N, Bainbridge Island, WA 98110
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      15,039 SF

      Bainbridge Island Office Suites

      Flexible workspace solutions in Kitsap County.
      100 Ravine Ln, Bainbridge Island, WA 98110
      View Details
    • $27 SF/Yr
      363 SF

      Ericksen Avenue NE Office Space

      Private office space in well-maintained medical/office building.
      727 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $830 /Mo
      363 SF

      Medical/Office Space Near Winslow Core

      Private office in well-maintained building, close to Winslow core.
      727 Ericksen Ave NE, Bainbridge Island, WA 98110
      View Details
    • $4,314 /Mo
      2,876 SF

      Bainbridge Island Commercial Space Available

      Ground floor commercial space with kitchen in Coppertop community.
      9453 Coppertop Loop NE, Bainbridge Island, WA 98110
      View Details
    • $849 /Mo
      463 SF

      Inviting Office Space on Winslow

      Bright office space with shared amenities on Winslow Way.
      265 Winslow Way E, Bainbridge Island, WA 98110
      View Details
    • $670 /Mo
      323 SF

      Bainbridge Island Office Space

      Office space near Winslow Way and Seattle/Bainbridge ferry.
      355 Erickson Ave NE, Bainbridge Island, WA 98110
      View Details
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    701 Madison N Ave
    Seattle, WA 98110-1770
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    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
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