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Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Office buildings
7812 Lk City NE Way Seattle, WA 98115-4358
Entity Owned
4-yr Hold
Property ID
US90-1472903
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1925
Construction
WOOD
Total area
2,840 SF
Lot
0.11 ac (4,792 SF)
Zoning code
C1-55 (M)
APN
297980-0230
UPID
US90-1472903
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
-
A G Therapy Crisis Center Medical Clinic
-
Mary Schlichter, LMP Alternative Medicine Practice Spa & Massage Center
-
Sara Hiatt Marriage Or Relationship Counselor
-
Kristina Shaw Alternative Medicine Practice Acupuncture
-
Jennifer Yost Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$975k
CAP Approach
CAP
$985k
Comparable Approach
Comparable
$805k
Blend (final)
Blend
$1.00M
Owner & transaction history
Meridian Investments LLC · 4 yrs held
Meridian Investments LLC
since 2021
Last sale
$1.2M
5 recorded transactions
Zoning & alternative use
C1-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+43.2%
Auto repair, garage
$1.2M
+16.4%
Retail stores
$1.2M
+14.6%
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
$925,000
ML approach
$975,000
CAP Approach
CAP Return
Estimation
6%
$1,065,000
6.5%
$985,000
7%
$915,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,005,000
Current use
COMMERCIAL (GENERAL)
$1,435,000
Change: +43% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,170,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$1,150,000
Change: +15% · Conversion: Moderate
MEDICAL BUILDING
$975,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$840,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.00M
Range $900k – $1.10M · ±10% · vs last sale $1.15M (Aug 2 2021)
Last sale anchor
$1.15M
Aug 2 2021
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
$352 / 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
$8,961
Tax year 2022
Assessed value
$1,008,200
Assessed 2022
Previous assessed
$1,008,200
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$790,600
Assessed improvement
$217,600
Land market value
$790,600
Improvement market value
$217,600
Total market value
$1,008,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1925
Construction
WOOD
Heating
FORCED AIR
Stories
2
Bathrooms
1
Total area
2,840 SF
Lot
0.11 ac (4,792 SF)
Zoning code
C1-55 (M)
APN
297980-0230
UPID
US90-1472903
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C1-55 (M) · Seattle, WA
Zoning C1-55 (M) · permitted uses
C1-55 (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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$975,000
WAREHOUSE, STORAGE
Est. value
$840,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
1925
Construction
WOOD
Heating
FORCED AIR
Stories
2
Bathrooms
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Meridian Investments LLC
Entity
Mailing address
24637 SE 9TH PL, SAMMAMISH, WA 98074-3447
Ownership since
2021
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 3, 2021
—
Meridian Investments LLC
Lb Squared LLC
Re-recorded Document
related
—
Aug 2, 2021
$1,150,000
Trunorth Holdings LLC
Meridian Investments LLC
Warranty Deed
$977,500 · Us Bank NA
Aug 17, 2017
—
Meridian Investments LLC
—
Deed
related
$430,000 · Cathay Bank
Jun 30, 2017
$898,000
Meridian Investments LLC
Lb Squared LLC
Warranty Deed
—
May 1, 2013
$560,099
Lb Squared LLC
Slape,harold E
Warranty 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.
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