Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    915 45th St Seattle, WA 98107-4606
    Back to Search
    Property profile & analytics

    915 45th St, Seattle, WA 98107-4606

    View on Map
    • Outlet malls
    • 164,437 SF
    • 12.63 lot acres
    Off-Market
    Property ID
    US90-0082794
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $32,240,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fred Meyer / Grocery & Convenience Store / Food Market
    • Fred Meyer Jewelers / (Bike/Boat/Book/etc) Store
    • BECU ATM / Atm
    • Chase ATM / Atm
    • ecoATM / Atm / Electronics Vending Machine

    Property Details for 915 45th St

    Year built
    1999
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.63 lot acres
    Zone code
    IG2 U/65
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    198220-2070
    APU
    1982202070

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 1, 2003 $25,437,210 Fred Meyer Stores INC Wilmington,tr Grant Deed —
    Jan 29, 1999 — Ferguson Properties LLC — Grant Deed · related $2.9M · Us Bank
    Nov 19, 1998 $78,709 Roundop Co Wilmington Trust Grant Deed —
    — — Ferguson Properties LLC — Deed Of Trust · related $250k · Us Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $40,865,000
      6.5%
      $37,720,000
      7%
      $35,025,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.369
    Latitude
    47.6602
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $712,601
    $71,514,300
    $3,498,900
    $75,013,200
    -
    $71,514,300
    $3,498,900
    $75,013,200

    Comparable in this City

    • Value Estimation
      $5,600,000
      22,420 SF

      6300 8th NW Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      6300 8th NW Ave, Seattle, WA 98107
      View Details
    • Value Estimation
      $2,265,000
      11,364 SF

      5500 14th NW Ave

      WHOLESALE OUTLET, DISCOUNT STORE
      5500 14th NW Ave, Seattle, WA 98107-3721
      View Details
    • Value Estimation
      $930,000
      6,196 SF

      920 Leary Way

      WHOLESALE OUTLET, DISCOUNT STORE
      920 Leary Way, Seattle, WA 98107-4646
      View Details
    • Value Estimation
      $1,710,000
      12,420 SF

      1437 50th St

      WHOLESALE OUTLET, DISCOUNT STORE
      1437 50th St, Seattle, WA 98107
      View Details
    • Value Estimation by Request
      23,500 SF

      1135 Leary Way

      WHOLESALE OUTLET, DISCOUNT STORE
      1135 Leary Way, Seattle, WA 98107-5134
      View Details
    • Value Estimation
      $1,400,000
      10,937 SF

      1400 Leary Way

      WHOLESALE OUTLET, DISCOUNT STORE
      1400 Leary Way, Seattle, WA 98107-5135
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Ballard Avenue Investment Property

      Retail frontage and parking in a prime Ballard location.
      4733 Ballard Ave NW, Seattle, WA 98107
      View Details
    • Contact for pricing
      4,950 SF

      Fremont Canal Workplace, Showroom, Retail

      Well-designed building with water views near Fremont and Downtown.
      114 NW Canal St, Seattle, WA 98107
      View Details
    • Contact for pricing
      1,722 SF

      Prime Ballard Avenue Corner Restaurant

      Fully leased restaurant property in Seattle's Ballard neighborhood.
      5239 Ballard Ave NW, Seattle, WA 98107
      View Details
    • Contact for pricing

      Leary Way Repair Shop For Sale

      2,324 SF repair shop on 11,174 SF lot.
      4410 Leary Way NW, Seattle, WA 98107
      View Details
    • Contact for pricing
      771 SF

      Retail Condo in Ballard

      Ground floor commercial condo in a high-traffic Seattle location.
      5458 Leary Ave NW, Seattle, WA 98107
      View Details
    • Contact for pricing
      4,950 SF

      Fremont Canal Inspired Workspace

      Workspace on the Ship Canal in Seattle’s Fremont Neighborhood.
      114 NW Canal St, Seattle, WA 98107
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      34,907 SF

      Retail Space in Ballard Blocks

      Anchor space available in dominant Ballard retail shopping destination.
      1416 NW 46Th St, Seattle, WA 98107
      View Details
    • $33 SF/Yr

      Downtown Ballard Retail Sublease Opportunity

      800 SF retail space in prime downtown Ballard location.
      1555 NW Market St, Seattle, WA 98107
      View Details
    • Contact for pricing
      1,339 SF

      Retail Space Available For Rent

      Retail space available for lease in Seattle, Washington.
      1438 NW 46Th St, Seattle, WA 98107
      View Details
    • Contact for pricing
      1,073 SF

      Historic Ballard Retail/Office Space

      Retail and office suites in the heart of Ballard.
      2220 NW Market St, Seattle, WA 98107
      View Details
    • Contact for pricing
      1,897 SF

      Ballard Retail Space For Rent

      Retail space in Ballard under 164-unit apartment building.
      1701 Northwest 56Th St, Seattle, WA 98107
      View Details
    • Contact for pricing
      8,975 SF

      Retail Building with Paved Yard

      Freestanding 4,407 SF retail building with paved yard for lease.
      5111 Leary Ave NW, Seattle, WA 98107
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    915 45th St
    Seattle, WA 98107-4606
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    915 45th St, Seattle, WA, 98107
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!