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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8215 Lk City NE Way Seattle, WA 98115-4413

    • Retail space
    • 1,575 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2022
    $1,800,000
    Value Estimations
    $1,450,000
    Show details
    Cap Rate Potential
    2.4%
    Retail space
    Location Intelligence
    Property ID
    US90-0722172
    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

    • Retail space

    Property Details for 8215 Lk City NE Way

    Year built
    1970
    Construction
    WOOD
    Lot size
    0.24 lot acres
    Property size
    1,575 SF
    Zone code
    C1-55 (M)
    Property type
    Retail space
    APN
    288770-0370
    APU
    2887700370

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,395,000
      ML approach
      $1,465,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.31
    Latitude
    47.689
    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
    $13,256
    $1,386,000
    $1,000
    $1,387,000
    -
    $1,386,000
    $1,000
    $1,387,000

    Comparable in this City

    • Value Estimation
      $2,220,000
      8,982 SF

      6500 Roosevelt NE Way

      RETAIL STORES (PERSONAL SERVICES) • 8,982 SF
      6500 Roosevelt NE Way, Seattle, WA 98115-6627
      View Details
    • Value Estimation
      $2,285,000
      12,750 SF

      9000 Roosevelt NE Way

      RETAIL STORES (PERSONAL SERVICES) • 12,750 SF
      9000 Roosevelt NE Way, Seattle, WA 98115-3044
      View Details
    • Value Estimation
      $4,590,000
      29,860 SF

      6415 Roosevelt NE Way

      RETAIL STORES (PERSONAL SERVICES) • 29,860 SF
      6415 Roosevelt NE Way, Seattle, WA 98115-6617
      View Details
    • Value Estimation
      $1,020,000
      3,450 SF

      8500 Lk City NE Way

      RETAIL STORES (PERSONAL SERVICES) • 3,450 SF
      8500 Lk City NE Way, Seattle, WA 98115-3259
      View Details
    • Value Estimation
      $1,075,000
      3,600 SF

      1008 65th St

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      1008 65th St, Seattle, WA 98115-6609
      View Details
    • Value Estimation
      $1,765,000
      7,584 SF

      7714 35th NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,584 SF
      7714 35th NE Ave, Seattle, WA 98115
      View Details

    Similar Nearby for Sale

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      White Center Retail Investment Opportunity

      5,600 SF retail building in thriving White Center business district.
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      Prime Retail Asset For Sale

      Retail property with high traffic exposure and excellent access.
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    • $2,000,000

      Greenlake Retail Investment Opportunity

      Commercial property in Seattle's Greenlake neighborhood with development potential.
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    • $2,400,000
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      Retail Property in Seattle, WA

      Retail property available for sale in Seattle, Washington.
      6509 Roosevelt Way NE, Seattle, WA 98115
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    • $1,975,000

      Prime Retail Asset For Sale

      Retail property with high traffic and excellent access.
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    Similar Nearby for Lease

    • $35 SF/Yr
      7,357 SF

      Retail Space on Roosevelt Way

      Retail space available for lease on Roosevelt Way NE.
      6400-6499 Roosevelt Way NE, Seattle, WA 98115
      View Details
    • Contact for pricing
      979 SF

      Retail/Office Space in North Seattle

      End-cap retail/office space with high visibility on Lake City Way.
      8014 Lake City Way NE, Seattle, WA 98115
      View Details
    • $27 SF/Yr
      1,670 SF

      Retail Space on Roosevelt Way

      Two-level retail space with basement garage parking available for rent.
      6417 Roosevelt Way NE, Seattle, WA 98115
      View Details
    • $39 SF/Yr
      2,901 SF

      Prime Retail Space in Seattle

      Ground-floor commercial space in a vibrant, growing Seattle neighborhood.
      917 NE 63Rd St, Seattle, WA 98115
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    • $43 SF/Yr
      1,441 SF

      Retail Space in Brick Building

      Character-filled retail space ideal for cafe or restaurant use.
      6319 Roosevelt Way NE, Seattle, WA 98115
      View Details
    • $25 SF/Yr
      2,791 SF

      Retail Spaces on High Traffic Street

      Cost-effective commercial spaces for lease in North Seattle.
      12548 Lake City Way NE, Seattle, WA 98115
      View Details
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    8215 Lk City NE Way
    Seattle, WA 98115-4413
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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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