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Property profile & analytics
OFF-MARKET
Estimated value
$4,470,000
Office buildings
9800 40th S Ave, Seattle, WA 98118-5603
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US90-1339237
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
28,500 SF
Lot
1.19 ac (51,830 SF)
Zoning code
IG2 U/65
APN
032304-9220
UPID
US90-1339237
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
-
Engineered Products, A Pape Company Factory Industrial Manufacturer
-
Easy Up Storage Systems Material Handling Equipment Supplier Shelving Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.47M
Owner & transaction history
Pape Properties INC · 12 yrs held
Pape Properties INC
since 2014
7 recorded transactions
Zoning & alternative use
IG2 U/65 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$157 / 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
$56,181
Tax year 2022
Assessed value
$5,715,700
Assessed 2022
Previous assessed
$5,715,700
+0.0% YoY
Effective rate
0.98%
On assessed value
Assessed land
$2,073,200
Assessed improvement
$3,642,500
Land market value
$2,073,200
Improvement market value
$3,642,500
Total market value
$5,715,700
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
28,500 SF
Lot
1.19 ac (51,830 SF)
Zoning code
IG2 U/65
APN
032304-9220
UPID
US90-1339237
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WA
Zoning IG2 U/65 · permitted uses
IG2 U/65 · 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.
Building & site characteristics
From public records
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Pape Properties INC
Entity
Mailing address
PO BOX 407, EUGENE, OR 97440-0407
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2014
—
Pape Properties INC
—
Deed Of Trust
related
$2,775,000 · Bank Of America
Jul 1, 2014
$3,700,000
Pape Properties INC
9800 Co LLC
Quit Claim Deed
related
—
Feb 18, 2009
—
9800 Co LLC
—
Deed Of Trust
related
$1,576,000 · Grow America Fund
Aug 1, 2008
—
9800 Co LLC
Lspi Exchange Corp
Warranty Deed
$3,350,000 · First Sound Bank
Jun 27, 2008
$3,450,000
Lspi Exchange Corp
Access Road Partners LLC
Warranty Deed
$1,933,538 · Access Road Partners L L C
Jun 18, 2001
$1,916,870
Access Road Partners LLC
Golden International Import
Grant Deed
$1,455,000 · Wells Fargo Bank
Mar 27, 1989
$700,000
International I Golden
Meisenbach,john
Grant Deed
—
—
—
Int'l Import Golden
—
Deed Of Trust
related
$550,000 · Washington Mutual Fsb
—
—
Golden International Import
—
Deed Of Trust
related
$540,000 · Pacifica Bank
—
—
9800 Co LLC
—
Deed Of Trust
related
$270,000 · Grow America Fund
—
—
Access Road Partner LLC
—
Deed Of Trust
related
$183,132 · Wells Fargo Bank
—
—
9800 Co LLC
—
Deed Of Trust
related
$1,576,000 · Seattle City (wa)
—
—
9800 Co LLC
—
Deed Of Trust
related
$150,000 · Coe Nancybell 2005 Trust (pt)
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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