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Property profile & analytics
FOR SALE
Office buildings
87 Wall St, Seattle, WA 98121
Entity Owned
4-yr Hold
Free & Clear
Property ID
US90-0698791
For Sale
1 / 2
$3,500,000
87 Wall St, Seattle, WA 98121
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1912
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,130 SF
Lot
0.17 ac (7,200 SF)
Zoning code
DMR/C 95/75
APN
065300-0095
UPID
US90-0698791
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
-
Story Worldwide Marketing & Advertising Advertising Agency
-
2407 1st Ave Parking Parking Lot & Garage
-
87 Wall St Parking Parking Lot & Garage
-
Rec Room Inc. (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.91M
CAP Approach
CAP
$4.07M
Comparable Approach
Comparable
$3.23M
Blend (final)
Blend
$4.11M
Owner & transaction history
87 Wall Street Sea LLC · 4 yrs held
87 Wall Street Sea LLC
since 2021
Last sale
$4.8M
3 recorded transactions
Zoning & alternative use
DMR/C 95/75 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.8M
+16.4%
Retail stores
$5.7M
+13.5%
Apartment house (5+ units)
$5.0M
+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
$3,865,000
ML approach
$3,905,000
CAP Approach
CAP Return
Estimation
6%
$4,410,000
6.5%
$4,070,000
7%
$3,780,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,995,000
Current use
AUTO REPAIR, GARAGE
$5,815,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$5,665,000
Change: +13% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$5,010,000
Change: +0% · Conversion: Easy
MEDICAL BUILDING
$4,860,000
Change: -3% · Conversion: Easy
WAREHOUSE, STORAGE
$4,175,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$4.11M
Range $3.70M – $4.52M · ±10% · vs last sale $4.80M (Oct 26 2021)
Last sale anchor
$4.80M
Oct 26 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
$291 / 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
$36,440
Tax year 2022
Assessed value
$4,319,100
Assessed 2022
Previous assessed
$4,319,100
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$3,780,000
Assessed improvement
$539,100
Land market value
$3,780,000
Improvement market value
$539,100
Total market value
$4,319,100
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
For Sale
Year built
1912
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Total area
14,130 SF
Lot
0.17 ac (7,200 SF)
Zoning code
DMR/C 95/75
APN
065300-0095
UPID
US90-0698791
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DMR/C 95/75 · Seattle, WA
Zoning DMR/C 95/75 · permitted uses
DMR/C 95/75 · 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
$5.0M
AUTO REPAIR, GARAGE
Est. value
$5.8M
RETAIL STORES
Est. value
$5.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.0M
MEDICAL BUILDING
Est. value
$4.9M
WAREHOUSE, STORAGE
Est. value
$4.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1912
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
87 Wall Street Sea LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1290 AVE OF THE AMERICAS, NEW YORK, NY 10104-0101
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2022
—
87 Wall Street Sea LLC
—
Deed
related
$600,000,000 · Goldman Sachs Bank USA
Oct 26, 2021
$4,800,000
87 Wall Street Sea LLC
Denny Regrade Associates
Bargain And Sale Deed
—
—
—
Denny Regrade Associates
—
Deed Of Trust
related
$562,555 · Individual
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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