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Property profile & analytics
OFF-MARKET
Estimated value
$2,235,000
Outlet malls
9423 Martin Luther King Jr S Way Seattle, WA 98118-5417
Individually Owned
1-yr Hold
Free & Clear
Property ID
US90-0784236
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,870 SF
Lot
0.36 ac (15,495 SF)
Zoning code
C2-75 (M)
APN
807200-0106
UPID
US90-0784236
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
-
Jack's Pay Less Auto Parts Auto Parts Store
-
Smilyn Tires & Auto Service (Bike/Boat/Book/etc) Store Auto Parts Store
-
El compadre Tires (Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.83M
Blend (final)
Blend
$2.24M
Owner & transaction history
Peter G Eastey · 1 yrs held
Peter G Eastey
since 2025
1 recorded transaction
Zoning & alternative use
C2-75 (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 non-retail commercial area that provides a wide range of commercial activities serving a community, citywide, or regional function, including uses such as manufacturing and warehousing that are less appropriate in more-retail-oriented commercia…
Zone name
Commercial Mandatory Housing Affordability
General category
INDUSTRIAL
Zone area
208.39 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.24M
Range $2.01M – $2.46M · ±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
$174 / 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
$18,581
Tax year 2022
Assessed value
$1,927,000
Assessed 2022
Previous assessed
$1,927,000
+0.0% YoY
Effective rate
0.96%
On assessed value
Assessed land
$495,800
Assessed improvement
$1,431,200
Land market value
$495,800
Improvement market value
$1,431,200
Total market value
$1,927,000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
2
Stories
1
Total area
12,870 SF
Lot
0.36 ac (15,495 SF)
Zoning code
C2-75 (M)
APN
807200-0106
UPID
US90-0784236
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
C2-75 (M) · Seattle, WAZoning 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
Zoning description
The intent of this district is to promote general commercial activities, to provide for an auto-oriented, primarily non-retail commercial area that provides a wide range of commercial activities serving a community, citywide, or regional function, including uses such as manufacturing and warehousing that are less appropriate in more-retail-oriented commercial areas. M is the mandatory housing affordability suffix applied to this zone.
Zone name
Commercial Mandatory Housing Affordability
General category
INDUSTRIAL
Zone area
208.39 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Buildings
2
Lot
0.36 ac
Current owner
From public records · entity-resolved
Peter G Eastey
Individual
Free & Clear · 1 yrs held
Mailing address
9423 MARTIN LUTHER KING JR WAY S, SEATTLE, WA 98118-5417
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2025
—
Peter G Eastey
Peter G Eastey
Deed
related
—
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.
Try Rey
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