Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    9580 1st NE Ave Seattle, WA 98115-2012

    • Distribution properties
    • 9,900 SF
    • 1.91 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1350895
    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

    • Northgate Transit Center Interim / Parking Lot

    Property Details for 9580 1st NE Ave

    Year built
    1988
    Construction
    WOOD FRAME
    Lot size
    1.91 lot acres
    Property size
    9,900 SF
    Zone code
    SM-NG 145
    Property type
    Distribution properties
    APN
    322604-9524
    APU
    3226049524

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.328
    Latitude
    47.7004
    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
    $15,655
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $645,000
      48,179 SF

      8908 Lk City NE Way

      MINI-WAREHOUSE, STORAGE • 48,179 SF
      8908 Lk City NE Way, Seattle, WA 98115-3264
      View Details
    • Value Estimation
      $460,000
      7,350 SF

      8900 Roosevelt NE Way

      MANUFACTURING (LIGHT) • 7,350 SF
      8900 Roosevelt NE Way, Seattle, WA 98115
      View Details
    • Value Estimation
      $340,000
      2,100 SF

      7523 Lk City NE Way

      WAREHOUSE, STORAGE • 2,100 SF
      7523 Lk City NE Way, Seattle, WA 98115-4218
      View Details
    • Value Estimation by Request
      7,048 SF

      9422 Roosevelt NE Way

      MANUFACTURING (LIGHT) • 7,048 SF
      9422 Roosevelt NE Way, Seattle, WA 98115-2844
      View Details
    • Value Estimation
      $665,000
      49,186 SF

      8910 Lk City NE Way

      MINI-WAREHOUSE, STORAGE • 49,186 SF
      8910 Lk City NE Way, Seattle, WA 98115-3264
      View Details
    • Value Estimation
      $595,000
      20,332 SF

      6518 Ravenna NE Ave

      MANUFACTURING (LIGHT) • 20,332 SF
      6518 Ravenna NE Ave, Seattle, WA 98115-7041
      View Details

    Similar Nearby for Sale

    • $1,900,000

      Georgetown Industrial Investment Opportunity

      Value-add investment in Seattle's Georgetown industrial market.
      6348-6355 S 6Th Ave S, Seattle, WA 98115
      View Details
    • $1,975,000

      Prime Retail Asset For Sale

      Retail property with high traffic exposure and excellent access.
      8001 Lake City Way NE Seattle, Seattle, WA 98115
      View Details
    • $397,500
      879 SF

      Commercial Condo in Bryant

      Commercial condo unit for sale in Bryant neighborhood.
      3408 NE 65Th St, Seattle, WA 98115
      View Details
    • $1,200,000

      White Center Retail Investment Opportunity

      5,600 SF retail building in thriving White Center business district.
      9615-9629 15Th Ave SW, Seattle, WA 98115
      View Details
    • $1,150,000

      High-Visibility Seattle Office Property

      Adaptable office building with high traffic exposure and recent upgrades.
      13045 Lake City Way NE, Seattle, WA 98115
      View Details
    • $1,525,000

      Restaurant Ready Corner Building

      High-traffic corner building with built-out kitchen for sale.
      12325 Lake City Way NE, Seattle, WA 98115
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,575 SF

      Refurbished Warehouse in Georgetown Location

      9,575 SF warehouse with office space and freeway access.
      6332 6Th Ave S, Seattle, WA 98115
      View Details
    • $23 SF/Yr
      2,796 SF

      Lake City Way Commercial Building

      Freestanding building with showroom, warehouse, and yard.
      9804 Lake City Way NE, Seattle, WA 98115
      View Details
    • Contact for pricing
      979 SF

      Retail/Office Space in North Seattle

      End-cap retail/office space with high visibility on Lake City Way.
      8014 Lake City Way NE, Seattle, WA 98115
      View Details
    • Contact for pricing
      14,609 SF

      Former Retail Space in Seattle

      Available retail space in Seattle's Green Lake neighborhood.
      419 Northeast 71St St, Seattle, WA 98115
      View Details
    • $35 SF/Yr
      7,357 SF

      Retail Space on Roosevelt Way

      Retail space available for lease on Roosevelt Way NE.
      6400-6499 Roosevelt Way NE, Seattle, WA 98115
      View Details
    • $12,000 /Mo
      29,904 SF

      Retail Space on Lake City Way

      Large retail property available for lease on Lake City Way.
      12039-12048 Lake City Way NE, Seattle, WA 98115
      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.
    9580 1st NE Ave
    Seattle, WA 98115-2012
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.