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Property profile & analytics
FOR SALE
Distribution centers
8721 14Th Ave S Seattle, WA 98108
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1577658
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For Sale
Contact for pricing
8721 14Th Ave S, Seattle, WA 98108
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Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1940
Construction
WOOD
Total area
5,400 SF
Lot
0.21 ac (9,000 SF)
Zoning code
C2-55 (M)
APN
788360-8115
UPID
US90-1577658
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.30M
CAP Approach
CAP
$915k
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$1.25M
Owner & transaction history
Nizlat LLC · 3 yrs held
Nizlat LLC
since 2022
Last sale
$1.5M
4 recorded transactions
Zoning & alternative use
C2-55 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to promote general commercial activities, to provide for an auto-oriented, primarily non-retail commercial area that provides a wide range of commercial activities serving a community, citywide, or regional function, including uses such as manufacturing and warehousing that are less appropriate in more-retail-oriented commercia…
Zone name
Commercial Mandatory Housing Affordability
General category
INDUSTRIAL
Zone area
166.37 ac
Source
Realmo
Top alternative use upside
Apartment house (5+ units)
$1.9M
+16.4%
Office building
$1.9M
+16.0%
Medical building
$1.9M
+12.9%
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
$1,230,000
ML approach
$1,295,000
CAP Approach
CAP Return
Estimation
6%
$990,000
6.5%
$915,000
7%
$850,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,645,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,915,000
Change: +16% · Conversion: Difficult
OFFICE BUILDING
$1,910,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$1,855,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10% · vs last sale $1.51M (Nov 18 2022)
Last sale anchor
$1.51M
Nov 18 2022
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
$231 / 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
$7,085
Tax year 2022
Assessed value
$661,700
Assessed 2022
Previous assessed
$661,700
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$360,000
Assessed improvement
$301,700
Land market value
$360,000
Improvement market value
$301,700
Total market value
$661,700
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Sale
Year built
1940
Construction
WOOD
Heating
FORCED AIR
Stories
1
Total area
5,400 SF
Lot
0.21 ac (9,000 SF)
Zoning code
C2-55 (M)
APN
788360-8115
UPID
US90-1577658
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C2-55 (M) · Seattle, WAZoning C2-55 (M) · permitted uses
C2-55 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to promote general commercial activities, to provide for an auto-oriented, primarily non-retail commercial area that provides a wide range of commercial activities serving a community, citywide, or regional function, including uses such as manufacturing and warehousing that are less appropriate in more-retail-oriented commercial areas. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Commercial Mandatory Housing Affordability
General category
INDUSTRIAL
Zone area
166.37 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.9M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
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
1940
Construction
WOOD
Heating
FORCED AIR
Stories
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Nizlat LLC
Entity
Mailing address
8721 14TH AVE S, SEATTLE, WA 98108-4808
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 5, 2024
—
Nizlat LLC
—
Deed
related
$1,533,000 · Customers Bank
Nov 18, 2022
$1,513,000
Nizlat LLC
Blake G Wilbur
Warranty Deed
$1,394,836 · Chad F Wilbur Etal
Sep 8, 2016
—
Chad F Wilbur
Wilbur,jack W
Quit Claim Deed
related
—
Jul 26, 1995
$210,000
Jack W Wilbur
Norris,millard T
Grant Deed
$170,000 · Seller
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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