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Property profile & analytics
OFF-MARKET
Estimated value
$12,505,000
Assisted living facilities
9001 Lk City NE Way Seattle, WA 98115-8222
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1330784
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
62,172 SF
Lot
0.48 ac (20,932 SF)
Zoning code
C1-55 (M)
APN
864150-0385
UPID
US90-1330784
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
-
Emerald City at Greenlake Senior Living Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.29M
Blend (final)
Blend
$12.51M
Owner & transaction history
Greenlake Emerald City LLC · 2 yrs held
Greenlake Emerald City LLC
since 2023
Last sale
$12.3M
7 recorded transactions
Zoning & alternative use
C1-55 (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 retail or service commercial area that serves surrounding neighborhoods and the larger community, citywide, or regional clientele. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
326.39 ac
Source
Realmo
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
$12,325,000
ML approach
$9,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
$19,065,000
Current use
Blend value · Realmo final
$12.51M
Range $11.25M – $13.76M · ±10% · vs last sale $12.32M (Dec 14 2023)
Last sale anchor
$12.32M
Dec 14 2023
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
$201 / 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
$125,398
Tax year 2022
Assessed value
$14,957,500
Assessed 2022
Previous assessed
$14,957,500
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$3,453,700
Assessed improvement
$11,503,800
Land market value
$3,453,700
Improvement market value
$11,503,800
Total market value
$14,957,500
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
4
Units
99
Total area
62,172 SF
Lot
0.48 ac (20,932 SF)
Zoning code
C1-55 (M)
APN
864150-0385
UPID
US90-1330784
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C1-55 (M) · Seattle, WAZoning C1-55 (M) · permitted uses
C1-55 (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 retail or service commercial area that serves surrounding neighborhoods and the larger community, citywide, or regional clientele. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Commercial Mandatory Housing Affordability
General category
COMMERCIAL
Zone area
326.39 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
Est. value
$19.1M
HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING) Current
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
2005
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
4
Units
99
Lot
0.48 ac
Current owner
From public records · entity-resolved
Greenlake Emerald City LLC
Entity
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2023
$12,318,648
Greenlake Emerald City LLC
Csh Maple Leaf LLC
Special Warranty Deed
$9,000,000 · First Interstate Bank
Nov 22, 2021
—
Mf1 Capital LLC
—
Deed
related
—
Aug 23, 2021
—
Csh Maple Leaf LLC
—
Deed
related
$9,875,000 · Mf1 Capital LLC
Nov 6, 2015
—
George Webb
Stratford At Maple Leaf LLC
Quit Claim Deed
—
Nov 6, 2015
$8,707,724
Csh Maple Leaf LLC
Stratford At Maple Leaf LLC
Grant Deed
$19,084,000 · Healthcare Financial Solutions LLC
Nov 6, 2015
$17,275,275
Csh Maple Leaf LLC
Webb,george
Grant Deed
—
Aug 31, 2010
—
Stratford At Maple Leaf LLC
—
Deed Of Trust
related
$10,790,000 · Intervest Mortgage Co LLC
Jul 12, 2007
—
Stratford At Maple Leaf LLC
—
Trustees Deed
related
$315,000 · Intervest Mortgage Co LLC
Mar 17, 2005
—
City Of Seattle
Skelton,rick
Grant Deed
related
—
Nov 8, 1999
$700,000
George S Webb
M L Graham Co
Grant Deed
—
Nov 5, 1999
—
M L Grahan Company
Kessenich,maille A
Quit Claim Deed
related
—
—
—
Stratford At Maple Leaf LLC
—
Deed Of Trust
related
$1,500,000 · Hicks Brian W Trust (rt)
—
—
Stratford At Maple Leaf LLC
—
Deed Of Trust
related
$11,661,000 · First Fed'l S&l Assoc/port Ang
—
—
Stratford At Maple Leaf LLC
—
Deed Of Trust
related
$11,975,000 · Intervest-mtg Investment Co
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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