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Property profile & analytics
OFF-MARKET
Estimated value
$1,120,000
Strip malls
8909 14th S Ave Seattle, WA 98108-4818
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1299837
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1950
Construction
WOOD
Total area
7,387 SF
Lot
0.62 ac (27,000 SF)
Zoning code
C2-55 (M)
APN
788360-8511
UPID
US90-1299837
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
-
South Park Food Center Grocery & Convenience Store Food Market
-
T&t Lavender Spa Spa & Massage Center
-
Bella Viet Café Restaurant
-
Fruteria Sandoval Food Market Specialty Food Shop
-
Pasteleria Y Panaderia La Ideal Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$970k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.12M
Owner & transaction history
Saek Pil Ja Lee · 3 yrs held
Saek Pil Ja Lee
since 2022
Last sale
$1.3M
7 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
Retail stores
$1.3M
+193.3%
Restaurant
$1.0M
+125.7%
Commercial (general)
$765,000
+68.4%
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
$1,015,000
ML approach
$970,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,335,000
Change: +193% · Conversion: Easy
RESTAURANT
$1,030,000
Change: +126% · Conversion: Difficult
COMMERCIAL (GENERAL)
$765,000
Change: +68% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$695,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$680,000
Change: +49% · Conversion: Moderate
Blend value · Realmo final
$1.12M
Range $1.01M – $1.23M · ±10% · vs last sale $1.25M (Aug 24 2022)
Last sale anchor
$1.25M
Aug 24 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
$152 / 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
$16,809
Tax year 2022
Assessed value
$1,442,000
Assessed 2022
Previous assessed
$1,442,000
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$1,080,000
Assessed improvement
$362,000
Land market value
$1,080,000
Improvement market value
$362,000
Total market value
$1,442,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1950
Construction
WOOD
Heating
SPACE
Stories
1
Total area
7,387 SF
Lot
0.62 ac (27,000 SF)
Zoning code
C2-55 (M)
APN
788360-8511
UPID
US90-1299837
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
RETAIL STORES
Est. value
$1.3M
RESTAURANT
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$765,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$695,000
OFFICE BUILDING
Est. value
$680,000
RETAIL STORES
RESTAURANT
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
OFFICE 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
1950
Construction
WOOD
Heating
SPACE
Stories
1
Lot
0.62 ac
Current owner
From public records · entity-resolved
Saek Pil Ja Lee
Individual
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
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2022
—
Saek Pil Ja Lee
Saek Lee
Intrafamily Transfer
related
—
Jun 1, 2020
—
Pil J Lee
—
Deed
related
$562,500 · Unibank
Dec 29, 2014
—
Pil Ja Lee
Lee,pil J
Quit Claim Deed
related
—
Apr 30, 2013
—
Saek Lee
Min K Lee
Quit Claim Deed
related
$562,500 · Unibank
Apr 30, 2013
$1,250,000
Pil J Lee
Oh,se Y & In C
Warranty Deed
—
Jul 27, 2010
$384,250
Young Oh
Ock Whitebear LLC
Quit Claim Deed
related
—
Feb 12, 2008
$700,000
Ock Whitebear LLC
Hong,chan & Sook R
Quit Claim Deed
related
—
Jun 30, 2005
$1,200,000
Hong Chan
Sun Kyong Son
Warranty Deed
$909,095 · Pacific International Bank
Jul 15, 2002
$649,250
Son S Kyong
Hur,ben T & Jung H
Grant Deed
$592,675 · Olympic Bank
Feb 17, 2000
$350,000
Ben T Hur
Lee,mi C
Grant Deed
$324,312 · Olympic Bank
Jul 13, 1995
—
Daniel Lee
Lee,dong H
Quit Claim Deed
related
$80,000 · Individual
Jul 24, 1991
—
Mi Chon Lee
Lee,yon Hong
Quit Claim Deed
related
—
May 24, 1990
$240,000
Lee Chon
Sung
Grant Deed
$129,600 · Seller
—
—
Se Y Oh
—
Deed Of Trust
related
$495,000 · Sin B Kang
—
—
Pil J Lee
—
Loan Modification
related
$562,500 · Unibank
—
—
Soh S Kyong
—
Deed Of Trust
related
$195,000 · First Heritage Bank
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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