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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Office buildings
9416 Martin Luther King Jr S Way, Seattle, WA 98118-5418
Individually Owned
21-yr Hold
Free & Clear
Property ID
US90-1288017
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1941
Construction
WOOD
Total area
2,300 SF
Lot
2.02 ac (88,084 SF)
Zoning code
C2-75 (M)
APN
807200-0115
UPID
US90-1288017
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
-
Ohno Construction Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$685k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$580k
Owner & transaction history
Central Puget Sound Regional T · 21 yrs held
Central Puget Sound Regional T
since 2004
2 recorded transactions
Zoning & alternative use
C2-75 (M) · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$945,000
+16.4%
Retail stores
$920,000
+13.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$740,000
6.5%
$685,000
7%
$635,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$815,000
Current use
AUTO REPAIR, GARAGE
$945,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$920,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$790,000
Change: -3% · Conversion: Easy
COMMERCIAL (GENERAL)
$715,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$680,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±10%
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
$252 / 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
$12,670
Tax year 2022
Assessed value
$847,000
Assessed 2022
Previous assessed
$847,000
+0.0% YoY
Effective rate
1.50%
On assessed value
Assessed land
$775,100
Assessed improvement
$71,900
Land market value
$775,100
Improvement market value
$71,900
Total market value
$847,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1941
Construction
WOOD
Heating
ELECTRIC
Cooling
CENTRAL
Stories
2
Total area
2,300 SF
Lot
2.02 ac (88,084 SF)
Zoning code
C2-75 (M)
APN
807200-0115
UPID
US90-1288017
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C2-75 (M) · Seattle, WA
Zoning C2-75 (M) · permitted uses
C2-75 (M) · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Seattle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$815,000
AUTO REPAIR, GARAGE
Est. value
$945,000
RETAIL STORES
Est. value
$920,000
MEDICAL BUILDING
Est. value
$790,000
COMMERCIAL (GENERAL)
Est. value
$715,000
WAREHOUSE, STORAGE
Est. value
$680,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1941
Construction
WOOD
Heating
ELECTRIC
Cooling
Yes
Stories
2
Lot
2.02 ac
Current owner
From public records · entity-resolved
Central Puget Sound Regional T
Individual
Free & Clear · 21 yrs held
Mailing address
9416 MARTIN LUTHER KING JR WAY S, SEATTLE, WA 98118-5418
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2004
—
Central Puget Sound Regional T
Giy Ptshp
Quit Claim Deed
related
—
Oct 7, 1988
$318,000
Giy Partnership
Tolomei
Grant Deed
—
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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