Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$11,685,000
Office buildings
801 3rd Ave Seattle, WA 98104-1601
Entity Owned
5-yr Hold
Free & Clear
Property ID
US90-1194602
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1979
Construction
STEEL FRAME
Total area
50,857 SF
Lot
0.66 ac (28,572 SF)
Zoning code
DOC1 U/450/U
APN
093900-0310
UPID
US90-1194602
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
-
Covenant Health Corporate Office
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.65M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.69M
Owner & transaction history
City Of Seattle · 5 yrs held
City Of Seattle
since 2021
7 recorded transactions
Zoning & alternative use
DOC1 U/450/U · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$18.0M
+0.4%
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%
$15,875,000
6.5%
$14,650,000
7%
$13,605,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$17,970,000
Current use
APARTMENT HOUSE (5+ UNITS)
$18,035,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$17,485,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$15,025,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$11.69M
Range $10.52M – $12.85M · ±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
$230 / 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
$532,379
Tax year 2022
Assessed value
$64,908,000
Assessed 2022
Previous assessed
$64,908,000
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$64,908,000
Land market value
$64,908,000
Total market value
$64,908,000
Applied tax rate
11.0000
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
1979
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
3
Total area
50,857 SF
Lot
0.66 ac (28,572 SF)
Zoning code
DOC1 U/450/U
APN
093900-0310
UPID
US90-1194602
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DOC1 U/450/U · Seattle, WA
Zoning DOC1 U/450/U · permitted uses
DOC1 U/450/U · 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
$18.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$18.0M
MEDICAL BUILDING
Est. value
$17.5M
WAREHOUSE, STORAGE
Est. value
$15.0M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
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
1979
Construction
STEEL FRAME
Heating
HEAT PUMP
Stories
3
Lot
0.66 ac
Current owner
From public records · entity-resolved
City Of Seattle
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 34996, SEATTLE, WA 98124-4996
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2021
—
City Of Seattle
The Net Seattle LLC
Deed
—
Sep 11, 2020
$127,721,831
Net Seattle LLC
D LLC
Grant Deed
—
Sep 11, 2020
$76,931
Net Seattle LLC
Msi 1201 LLC
Grant Deed
—
Sep 11, 2020
$380,811
Net Seattle LLC
Tsb LLC
Grant Deed
—
Jan 10, 2018
—
D LLC
—
Grant Deed
related
$19,000,000 · Washington Fed'l Svgs
Dec 23, 2014
$14,300,000
D LLC
Seattle Metropolitan Cu
Grant Deed
—
—
—
D LLC
—
Loan Modification
related
—
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 801 3rd 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.
