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Property profile & analytics
OFF-MARKET
Estimated value
$1,355,000
Office buildings
8401 35th NE Ave Seattle, WA 98115-4818
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US90-0615705
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
WOOD
Total area
6,225 SF
Lot
0.21 ac (9,265 SF)
Zoning code
NC2P-55 (M)
APN
921290-0351
UPID
US90-0615705
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
-
Michele Flinn, REALTOR® Real Estate Agency
-
Mark Emily Real Estate Agency
-
Marnie Oshan Homes - Broker, Windermere Real Estate Real Estate Agency
-
Michael Strazzara Real Estate Real Estate Agency
-
Merritt Hess Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.36M
Owner & transaction history
Wedgwood 35th LLC · 16 yrs held
Wedgwood 35th LLC
since 2010
2 recorded transactions
Zoning & alternative use
NC2P-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.2M
+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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,200,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,210,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$2,140,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$1,840,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.36M
Range $1.22M – $1.49M · ±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
$218 / 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
$25,089
Tax year 2022
Assessed value
$2,873,100
Assessed 2022
Previous assessed
$2,873,100
+0.0% YoY
Effective rate
0.87%
On assessed value
Assessed land
$2,872,100
Assessed improvement
$1,000
Land market value
$2,872,100
Improvement market value
$1,000
Total market value
$2,873,100
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
1985
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Total area
6,225 SF
Lot
0.21 ac (9,265 SF)
Zoning code
NC2P-55 (M)
APN
921290-0351
UPID
US90-0615705
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
NC2P-55 (M) · Seattle, WA
Zoning NC2P-55 (M) · permitted uses
NC2P-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
$2.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$1.8M
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
1985
Construction
WOOD
Heating
HEAT PUMP
Stories
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
Wedgwood 35th LLC
Entity
Mailing address
1151 FAIRVIEW AVE N STE #105, SEATTLE, WA 98109-4402
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2022
—
Wedgwood 35th LLC
—
Deed
related
$2,480,000 · Homestreet Bank
Jun 30, 2010
$1,500,000
Wedgwood 35th LLC
Wedgwood & 35th Associates
Warranty Deed
$1,500,000 · John W Jacobi
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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