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    Property profile & analytics

    9309 Aurora N Ave Seattle, WA 98103-3214

    • Warehouses
    • 101,989 SF
    • 1.02 lot acres
    OFF-MARKET
    Last Sale
    Nov 03, 2023
    $22,500,000
    Value Estimations
    $23,285,000
    Show details
    Cap Rate Potential
    4.3%
    Warehouses
    Location Intelligence
    Property ID
    US90-0859566
    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.

    Current Use by Public Records

    • SecureSpace Self Storage Seattle Greenwood / Storage Facility

    Property Details for 9309 Aurora N Ave

    Year built
    2018
    Construction
    CONCRETE
    Lot size
    1.02 lot acres
    Property size
    101,989 SF
    Zone code
    NC3P-75 (M)
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    153230-0095
    APU
    1532300095

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $22,510,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $16,275,000
      6.5%
      $15,025,000
      7%
      $13,950,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $25,630,000
      Market price range: $18.5M - $46.5M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $30,130,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $36,170,000
      Change: +20% Conversion: Difficult
      MEDICAL BUILDING
      $35,070,000
      Change: +16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.345
    Latitude
    47.6967
    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
    $234,367
    $5,109,500
    $22,724,900
    $27,834,400
    -
    $5,109,500
    $22,724,900
    $27,834,400

    Comparable in this City

    • Value Estimation
      $620,000
      5,996 SF

      8816 Aurora N Ave

      MINI-WAREHOUSE, STORAGE • 5,996 SF
      8816 Aurora N Ave, Seattle, WA 98103-3918
      View Details
    • Value Estimation
      $19,545,000
      213,065 SF

      9701 Aurora N Ave

      MINI-WAREHOUSE, STORAGE • 213,065 SF
      9701 Aurora N Ave, Seattle, WA 98103-3222
      View Details
    • Value Estimation by Request
      0.09 Acres

      819 49th St

      MINI-WAREHOUSE, STORAGE • 0.09 Acres
      819 49th St, Seattle, WA 98103-6569
      View Details
    • Value Estimation
      $955,000
      9,648 SF

      9309 Aurora N Ave

      MINI-WAREHOUSE, STORAGE • 9,648 SF
      9309 Aurora N Ave, Seattle, WA 98103-3214
      View Details
    • Value Estimation
      $760,000
      6,440 SF

      3839 Stone N Way

      WAREHOUSE, STORAGE • 6,440 SF
      3839 Stone N Way, Seattle, WA 98103-8005
      View Details
    • Value Estimation
      $705,000
      5,540 SF

      3310 Wallingford N Ave

      WAREHOUSE, STORAGE • 5,540 SF
      3310 Wallingford N Ave, Seattle, WA 98103-9039
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,970 SF

      Office/Warehouse Building with Fenced Yard

      7,970 SF office/warehouse on 16,653 SF lot for sale.
      4301 Aurora Ave N, Seattle, WA 98103
      View Details
    • Contact for pricing

      Seattle Office/Warehouse in Greenwood District

      Office/warehouse property in Seattle's Greenwood District, formerly a distribution center.
      9241 Greenwood Ave N, Seattle, WA 98103
      View Details
    • Contact for pricing
      124,848 SF

      Ballard Industrial Portfolio For Sale

      Five buildings in Ballard with flexible use potential.
      1148 NW 50Th St, Seattle, WA 98103
      View Details
    • $1,500,000

      Phinney Ridge Industrial Building For Sale

      7,822 SF industrial building in Phinney Ridge/Green Lake neighborhood.
      7223 Aurora Ave N, Seattle, WA 98103
      View Details
    • $1,950,000

      Mixed-Use Property with Existing Pub

      Mixed-use property featuring a pub and multifamily residence.
      7301 Aurora Ave N, Seattle, WA 98103
      View Details
    • $4,200,000

      Single Tenant Building Near Campus

      Single tenant building with open area near Campus Seattle.
      3625 Interlake Ave N, Seattle, WA 98103
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      89,500 SF

      Industrial and Retail Space Available

      89,500 SF industrial and retail space for lease.
      1141 NW 50Th St, Seattle, WA 98103
      View Details
    • Contact for pricing
      76,280 SF

      Seattle Warehouse with Fenced Truck Court

      76,280 SF warehouse featuring a fenced truck court.
      915 S 96Th St, Seattle, WA 98103
      View Details
    • $1,901 /Mo
      1,400 SF

      Phinney Ridge Flex Storage Space

      1,400 SF flex/storage space in thriving Phinney Ridge.
      7601 Greenwood Ave N, Seattle, WA 98103
      View Details
    • $14,700 /Mo
      9,800 SF

      Fremont Office/Warehouse/RD/Storage Space

      Clean Fremont office/warehouse/RD/storage space with heavy power.
      3415 Stone Way N, Seattle, WA 98103
      View Details
    • $111,585
      7,199 SF

      Lake Union Flex Warehouse Space

      Freestanding flex warehouse near Highway 99 and I-5.
      2220 Pacific St, Seattle, WA 98103
      View Details
    • $6 SF/Yr
      5,000 SF

      Secured Storage & Warehouse Space

      Functional storage and warehouse space in a secured yard.
      3410 Woodland Park Ave N, Seattle, WA 98103
      View Details
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    Seattle, WA 98103-3214
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    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
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