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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Grocery and convenience stores
7544 Martin Luther King Jr S Way Seattle, WA 98118-3735
Entity Owned
2-yr Hold
Free & Clear
Property ID
US90-1246039
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1949
Construction
WOOD
Total area
728 SF
Lot
0.47 ac (20,423 SF)
Zoning code
NC2-75 (M1)
APN
390410-0290
UPID
US90-1246039
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
-
LIHI Othello Village Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$790k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$760k
Owner & transaction history
North Mlk Development Lllp · 2 yrs held
North Mlk Development Lllp
since 2023
Last sale
$750,000
7 recorded transactions
Zoning & alternative use
NC2-75 (M1) · 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 area that provides a full range of household and personal goods and services, including convenience and specialty goods, to the surrounding neighborhoods, and that accommodates other uses that are compatible with the retail cha…
Zone name
Neighborhood Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
69.44 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
$750,000
ML approach
$790,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$760k
Range $684k – $836k · ±10% · vs last sale $750k (Oct 2 2023)
Last sale anchor
$750k
Oct 2 2023
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
$1,044 / 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
$16,889
Tax year 2022
Assessed value
$735,600
Assessed 2022
Previous assessed
$735,600
+0.0% YoY
Effective rate
2.30%
On assessed value
Assessed land
$735,200
Assessed improvement
$400
Land market value
$735,200
Improvement market value
$400
Total market value
$735,600
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
1949
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
WALL UNIT
Buildings
2
Stories
1
Total area
728 SF
Lot
0.47 ac (20,423 SF)
Zoning code
NC2-75 (M1)
APN
390410-0290
UPID
US90-1246039
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2-75 (M1) · Seattle, WAZoning NC2-75 (M1) · permitted uses
NC2-75 (M1) · 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 area that provides a full range of household and personal goods and services, including convenience and specialty goods, to the surrounding neighborhoods, and that accommodates other uses that are compatible with the retail character of the area such as housing or offices. M1 is the mandatory housing affordability suffix applied to this zone.
Zone name
Neighborhood Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
69.44 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1949
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.47 ac
Current owner
From public records · entity-resolved
North Mlk Development Lllp
Entity
Free & Clear · 2 yrs held
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 2, 2023
—
North Mlk Development Lllp
Mlk Development LLC
Quit Claim Deed
related
—
Dec 26, 2014
$750,000
Mlk Development LLC
Wd Group LLC
Warranty Deed
$750,000 · Rainier Valley Community Developmen
Jun 15, 2012
—
Wd Group LLC
Hua,chin L
Quit Claim Deed
related
—
May 30, 2012
—
Chin L Hua
C & A Hua LP
Quit Claim Deed
related
—
Feb 6, 2004
—
Central Puget Sound Regional
C & Hua LP
Grant Deed
related
—
Aug 3, 1999
—
C LP
Hua,alan & Chin-lin
Quit Claim Deed
related
—
—
—
Mlk Dev LLC
—
Loan Modification
related
$837,000 · Rainier Vly Cmnty Dev Fund
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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