Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    821 2Nd Ave Seattle, WA 98104

    • Office buildings
    • 384,302 SF
    • 0.49 lot acres
    For Lease
    View listing
    Value Estimations
    $675,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0079701
    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

    • Nuance Communications / Software Company
    • PeopleSpace / Office Furniture Store / Business To Business Service
    • Emerald City Organizing / Home Help Service Agency
    • King County Housing & Community Development - Food Distribution Center / Food Bank
    • Deloitte Digital / Marketing Consultant / Design Agency

    Property Details for 821 2Nd Ave

    Year built
    1929
    Construction
    CONCRETE
    Lot size
    0.49 lot acres
    Property size
    384,302 SF
    Zone code
    DMC 340/290-440
    Property type
    Office buildings
    APN
    093900-0335
    APU
    939000335

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $675,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.335
    Latitude
    47.604
    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
    $941,667
    $22,302,000
    $93,187,809
    $115,489,809
    -
    $22,302,000
    $93,187,809
    $115,489,809

    Comparable in this City

    • Value Estimation
      $670,000
      39,030 SF

      119 Main St

      OFFICE BUILDING • 39,030 SF
      119 Main St, Seattle, WA 98104-3445
      View Details
    • Value Estimation
      $795,000
      167,860 SF

      1008 Western Ave

      OFFICE BUILDING • 167,860 SF
      1008 Western Ave, Seattle, WA 98104-1090
      View Details
    • Value Estimation
      $850,000
      164,380 SF

      300 Occidental S Ave

      OFFICE BUILDING • 164,380 SF
      300 Occidental S Ave, Seattle, WA 98104-2840
      View Details
    • Value Estimation by Request
      114,395 SF

      400 Yesler Way

      OFFICE BUILDING • 114,395 SF
      400 Yesler Way, Seattle, WA 98104-3265
      View Details
    • Value Estimation
      $550,000
      413,264 SF

      300 5th Ave

      OFFICE BUILDING • 413,264 SF
      300 5th Ave, Seattle, WA 98104-2398
      View Details
    • Value Estimation
      $275,000
      19,200 SF

      612 6th S Ave

      OFFICE BUILDING • 19,200 SF
      612 6th S Ave, Seattle, WA 98104
      View Details

    Similar Nearby for Sale

    • $1,750,000
      2,352 SF

      Seattle Medical Office Condo

      Prime Seattle location, move-in ready.
      1229 Madison St, Seattle, WA 98104
      View Details
    • $10,000,000

      Retail/Office Property on Jackson Street

      Retail/office property with high visibility and ample parking.
      1207 S Jackson St, Seattle, WA 98104
      View Details
    • $2,200,000
      6,440 SF

      Historic Pioneer Square Retail/Office Building

      Two-story, 6,440 SF retail/office building in opportunity zone.
      411 2Nd Avenue Ext S, Seattle, WA 98104
      View Details
    • $2,200,000
      3,509 SF

      Commercial Condo Unit Available

      Commercial condo unit suitable for office or retail use.
      2313 1St Ave, Seattle, WA 98104
      View Details
    • $925,000
      2,925 SF

      Pioneer Square Commercial Condo

      Classic brick condo in vibrant Pioneer Square neighborhood.
      512 1St Ave S, Seattle, WA 98104
      View Details
    • $1,750,000
      2,352 SF

      Medical Condo in Seattle's District

      Move-in ready medical office in Seattle's medical district.
      1229 Madison St, Seattle, WA 98104
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      10,639 SF

      Pioneer Square Office Space Available

      Office spaces available in the historic Delmar Building.
      108 S Washington St, Seattle, WA 98104
      View Details
    • Contact for pricing
      63,000 SF

      Interconnected Class A Office Buildings

      135,000 SF office space in three interconnected Class A buildings.
      411 1St Ave South, Seattle, WA 98104
      View Details
    • $28 SF/Yr
      86,947 SF

      Historic Seattle Retail Space

      Prime Pioneer Square location, 2,169 sq ft available
      615 2Nd Ave, Seattle, WA 98104
      View Details
    • Contact for pricing
      331,695 SF

      Prestigious Seattle CBD Office Space

      Class A Office, 8 Suites Available
      801 2Nd Ave, Seattle, WA 98104
      View Details
    • Contact for pricing
      13,730 SF

      Seattle Office Space Available Now

      Office suites available for rent in Seattle, Washington.
      300-316 Occidental Ave S, Seattle, WA 98104
      View Details
    • Contact for pricing
      6,023 SF

      Seattle Office Space Available

      Office space available for rent in Seattle, Washington.
      61 Columbia St, Seattle, WA 98104
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    821 2Nd Ave
    Seattle, WA 98104
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.