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Property profile & analytics
OFF-MARKET
Estimated value
$8,015,000
Distribution centers
9229 10th S Ave Seattle, WA 98108-4613
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1621409
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
31,300 SF
Lot
0.95 ac (41,425 SF)
Zoning code
IG2 U/65
APN
243370-0076
UPID
US90-1621409
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
$8.05M
CAP Approach
CAP
$5.30M
Comparable Approach
Comparable
$6.02M
Blend (final)
Blend
$8.02M
Owner & transaction history
9229 10th Ave S LLC · 3 yrs held
9229 10th Ave S LLC
since 2023
Last sale
$8.0M
7 recorded transactions
Zoning & alternative use
IG2 U/65 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Municipal Code
Top alternative use upside
Auto repair, garage
$12.9M
+35.0%
Retail stores
$12.6M
+31.6%
Apartment house (5+ units)
$11.1M
+16.4%
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
$8,005,000
ML approach
$8,050,000
CAP Approach
CAP Return
Estimation
6%
$5,735,000
6.5%
$5,295,000
7%
$4,915,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,535,000
Current use
AUTO REPAIR, GARAGE
$12,875,000
Change: +35% · Conversion: Easy
RETAIL STORES
$12,550,000
Change: +32% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$11,100,000
Change: +16% · Conversion: Difficult
OFFICE BUILDING
$11,060,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$10,765,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$8.02M
Range $7.21M – $8.82M · ±10% · vs last sale $8.00M (Apr 17 2023)
Last sale anchor
$8.00M
Apr 17 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
$256 / 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
$38,958
Tax year 2022
Assessed value
$3,835,600
Assessed 2022
Previous assessed
$3,835,600
+0.0% YoY
Effective rate
1.02%
On assessed value
Assessed land
$1,657,000
Assessed improvement
$2,178,600
Land market value
$1,657,000
Improvement market value
$2,178,600
Total market value
$3,835,600
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
Off-Market
Year built
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
31,300 SF
Lot
0.95 ac (41,425 SF)
Zoning code
IG2 U/65
APN
243370-0076
UPID
US90-1621409
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WAZoning IG2 U/65 · permitted uses
IG2 U/65 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Municipal Code
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$9.5M
AUTO REPAIR, GARAGE
Est. value
$12.9M
RETAIL STORES
Est. value
$12.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.1M
OFFICE BUILDING
Est. value
$11.1M
MEDICAL BUILDING
Est. value
$10.8M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1978
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
9229 10th Ave S LLC
Entity
Mailing address
4742 42ND AVE SW #156, SEATTLE, WA 98116-4553
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2023
$8,000,000
9229 10th Ave S LLC
Scharhon Family LLC
Bargain And Sale Deed
—
Apr 25, 2018
—
Scharon Family LLC
—
Deed
related
$250,000 · Halfon Nell (es)
Apr 24, 2018
—
Scharhon Family LLC
Halfon Nell
Grant Deed
—
Jun 7, 2017
—
Scharhon Family LLC
Halfon Israel Trust
Quit Claim Deed
related
—
Apr 6, 2004
—
Halfon,tr
Halfon,israel Est
Quit Claim Deed
related
—
Oct 7, 1998
$1,420,000
I J Halfon
Nakanishi & Phelps Partnership
Grant Deed
—
—
—
Scharon Family LLC
—
Deed Of Trust
related
$250,000 · Halfon Nell (es)
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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