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    Property profile & analytics

    Seattle, WA 98108

    • Showrooms
    • 14,688 SF
    • 2.39 lot acres
    OFF-MARKET
    Value Estimations
    $4,480,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1395757
    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

    • Showrooms

    Property Details

    Year built
    1976
    Construction
    STEEL FRAME
    Lot size
    2.39 lot acres
    Property size
    14,688 SF
    Zone code
    I
    Property type
    Showrooms
    APN
    000160-0044
    APU
    1600044

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $7,430,000
      Current use
      AUTO REPAIR, GARAGE
      $6,045,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.311
    Latitude
    47.5262
    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
    $9,570
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2.66 Acres

      7739 1st S Ave

      SHOW ROOM, WAREHOUSE • 2.66 Acres
      7739 1st S Ave, Seattle, WA 98108-4211
      View Details
    • Value Estimation
      $760,000
      6,000 SF

      5219 4th S Ave

      SHOW ROOM, WAREHOUSE • 6,000 SF
      5219 4th S Ave, Seattle, WA 98108-2216
      View Details
    • Value Estimation
      $660,000
      5,204 SF

      6166 4th S Ave

      SHOW ROOM, WAREHOUSE • 5,204 SF
      6166 4th S Ave, Seattle, WA 98108-3215
      View Details
    • Value Estimation by Request
      0.29 Acres

      525 Chicago St

      SHOW ROOM, WAREHOUSE • 0.29 Acres
      525 Chicago St, Seattle, WA 98108-4320
      View Details
    • Value Estimation
      $630,000
      5,120 SF

      607 Fidalgo St

      SHOW ROOM, WAREHOUSE • 5,120 SF
      607 Fidalgo St, Seattle, WA 98108-2614
      View Details
    • Value Estimation
      $39,385,000
      206,669 SF

      5960 1st S Ave

      SHOW ROOM, WAREHOUSE • 206,669 SF
      5960 1st S Ave, Seattle, WA 98108-3248
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Seattle Showroom/Warehouse/Office Building For Sale

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      2,400 SF

      Retail Property For Sale

      Retail property with existing tenant in Seattle, WA.
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      6,650 SF

      Seattle Ballard Multi-Tenant Retail Asset

      6,650 SF multi-tenant retail in Seattle's Ballard sub-market.
      5512 20Th Ave NW, Seattle, WA 98108
      View Details
    • $11,995,000
      32,143 SF

      Georgetown Two-Building Creative Campus

      Rare industrial/creative campus in Georgetown with adaptive-reuse facilities.
      1136 Albro Pl, Seattle, WA 98108
      View Details
    • $1,400,000
      3,080 SF

      Georgetown Two-Story Commercial Building

      Two-story commercial building in Georgetown with parking and freeway access.
      6011 12Th Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing

      Secured Yard Space in Georgetown

      Leasable secured yard with optional storage in high-traffic Georgetown.
      6601 East Marginal Way, Seattle, WA 98108
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,955 SF

      Showroom/Office Space on Corson Avenue

      Showroom/Office space with exterior signage and storage available.
      5959 Corson Ave S, Seattle, WA 98108
      View Details
    • $12,744 /Mo
      9,803 SF

      Georgetown Warehouse, Office, Flex Space

      9,802 SF warehouse, office, flex space in Seattle's Georgetown.
      780 Michigan St, Seattle, WA 98108
      View Details
    • $9,255 /Mo
      3,702 SF

      Versatile Commercial Space for Lease

      Adaptable commercial space with office, showroom, and kitchen areas.
      612 Lucile St, Seattle, WA 98108
      View Details
    • $9,450 /Mo
      3,780 SF

      Office and Retail Space Available

      Versatile commercial space suitable for office or retail use.
      612 Lucile St, Seattle, WA 98108
      View Details
    • $20 SF/Yr
      3,031 SF

      Retail Space Available For Rent

      Retail space available for rent in Seattle, WA.
      503-515 S Michigan St, Seattle, WA 98108
      View Details
    • $20 SF/Yr

      Retail/Flex Space in Georgetown

      Retail/Flex space available for lease in Georgetown neighborhood.
      6505 5Th Pl S, Seattle, WA 98108
      View Details
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    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
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