Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,860,000
Strip malls
9635 Des Moines Memorial Dr Seattle, WA 98108-5061
Individually Owned
18-yr Hold
~
Est. High Equity
Property ID
US90-3132557
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1964
Construction
CONCRETE
Total area
12,240 SF
Lot
3.49 ac (152,024 SF)
Zoning code
RB
APN
562420-0371
UPID
US90-3132557
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
-
Sea Mar Youth Boxing Club Gym & Fitness Center Sports School
-
El Rey 1360 am Radio Station Telecommunications Service
-
Sea Mar Seattle Adolescent Medical Clinic Medical Clinic
-
Sea Mar Seattle Adolescent Behavioral Health Clinic Medical Clinic
-
Sea Mar Museum of Chicano/a/Latino/a Culture Museum
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.86M
Owner & transaction history
Sea-mar Community Health Ctr · 18 yrs held
Sea-mar Community Health Ctr
since 2008
7 recorded transactions
Zoning & alternative use
RB · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.2M
+193.3%
Restaurant
$1.7M
+125.7%
Commercial (general)
$1.3M
+68.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,215,000
Change: +193% · Conversion: Easy
RESTAURANT
$1,705,000
Change: +126% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,270,000
Change: +68% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,155,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$1,130,000
Change: +49% · Conversion: Moderate
Blend value · Realmo final
$1.86M
Range $1.67M – $2.05M · ±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
$152 / 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
$144,444
Tax year 2022
Assessed value
$14,881,400
Assessed 2022
Previous assessed
$14,881,400
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$7,601,200
Assessed improvement
$7,280,200
Land market value
$7,601,200
Improvement market value
$7,280,200
Total market value
$14,881,400
Applied tax rate
3,030.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1964
Construction
CONCRETE
Heating
OTHER
Buildings
2
Stories
1
Total area
12,240 SF
Lot
3.49 ac (152,024 SF)
Zoning code
RB
APN
562420-0371
UPID
US90-3132557
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
RB · Seattle, WA
Zoning RB · permitted uses
RB · 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
RETAIL STORES
Est. value
$2.2M
RESTAURANT
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES
RESTAURANT
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
OFFICE 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
1964
Construction
CONCRETE
Heating
OTHER
Stories
1
Buildings
2
Lot
3.49 ac
Current owner
From public records · entity-resolved
Sea-mar Community Health Ctr
Individual
Mailing address
1040 S HENDERSON ST, SEATTLE, WA 98108-4720
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2026
—
Sea Mar Community Health Center
—
Deed
related
$339,500 · Washington State Department Of Commerce
Mar 9, 2023
—
Sea Mar Community Health Center
—
Deed
related
$634,380 · Washington State Department Of Commerce
Sep 27, 2016
—
Sea Mar Community Health Center
—
Deed
related
$6,000,000 · Homestreet Bank
Jun 30, 2008
$4,600,000
Sea-mar Community Health Ctr
Plaza Ents INC
Warranty Deed
$3,824,800 · Frontier Bank
Aug 26, 2005
$4,050,000
Northshore Plaza Ents INC
Colello Family Ptshp
Grant Deed
$2,350,000 · Centerbank
Apr 15, 1998
$5,000
King County (wa)
Colello Family Ptshp
Grant Deed
—
—
—
Colello Family LP
—
Deed Of Trust
related
$650,000 · Us Bank
—
—
Sea Mar Cmnty Health Centers
—
Deed Of Trust
related
$1,441,250 · Miscellaneous Govt Agcy
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 9635 Des Moines Memorial Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
