MakeMe Estimate: $10.6M (estimated market value), with a likely range of $9.34M to $12.2M (half of recent verified sales in this segment landed inside that range). Based on 8 verified arm's-length comparable sales (through 2026-06-01). Not an appraisal. How this estimate works.
lower confidence: 6 comparable sales within 3 miles; nearest 0.4 mi. This property type carries wider measured error; treat the estimate as a starting point. Last arm's-length sale: $14,400,000 in 2022. The market has moved since; the estimate reflects current county values and ratios, not that price. Comparable-sale caveat: the estimate is well above (more than double apart from) the $494.06/SF median of the shown comparable sales.
Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. The strongest 5 of 6 nearby verified sales are shown. Buyer and seller names are withheld. Get this data via API.
Market context: Office in Seattle
median verified sale $364.58/SF over the trailing 24 months; 28 sales in the last 12 months and 52 in 24 (newest verified sale 2026-05); the middle 80% of recent sales traded at 0.63x to 1.44x their county assessed value, median 1.00x (52 sales with usable county values).
2022: $472.22/SF median (35 sales)
2023: $415.77/SF median (20 sales)
2024: $326.92/SF median (24 sales)
2025: $371.06/SF median (27 sales)
2026 YTD: $390.03/SF median (11 sales)
This estimate sits at 0.86x county assessed value, the 27th percentile of those recent sale premiums.
Computed from 1,574 verified arm's-length sales in King County public records (52 in the trailing 24 months). Free public records. Not an appraisal.
Last sold: 2022-01-21 for $14,400,000 (recorded arm's-length sale).
Current ownership dates to 2022 (about 4 years) per recorded transfers.
2022-01-21: $14,400,000 from PBJP Enterprises LLC +SPK Properties LLC to Fef REIT 1953 Westlake Holdings LLC, rec. 20220121001167
2016-07-14: $4,005,000 from Frank & Anne West Foundation to PBJP Enterprises LLC+SPK Properties LLC, rec. 20160714000760
1986-10-31: transfer from Seattle 1st National Bank $er to Seattle 1st National Bank $t (non-market transfer), rec. 198611180196
Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.
Value over time
Dark line: county assessed value per King County tax rolls. Blue line: our estimate; dashed years are a modeled backcast built from recorded arm's-length sales in the building's segment, not estimates published at the time, and years without enough sales stay unmodeled. The shaded range is the model's measured error band; about half of verified sales in the segment land inside it. Diamonds: recorded arm's-length sales. Not an appraisal. How this estimate works.
Land, site, and value history
Assessed value moved from $2,134,500 (2011) to $12,240,000 (2026), up 473% over 15 years, per county tax rolls. The 2026 roll splits $12,240,000 into $6,613,800 land and $5,626,200 improvements.
Zoning: DOC2 500/300-550 (per King County)
Lot: 4,267 sq ft
Water: Water District (per King County)
Sewer: Public (per King County)
Access: Public
Street surface: Paved
Floor and use mix: Bank 5,740 SF; Basement, Storage 2,740 SF (county building sections)