2040 15th Ave W, Seattle, WA 98119

Small-Bay Industrial · Seattle · Seattle-Bellevue metro, WA

Imagery suggests: industrial warehouse. AI estimate from public imagery. In recent public imagery (2026-06), the building appears well maintained. AI estimate from public imagery; may be outdated.

One of 1,229 reachable small-bay industrial buildings in Seattle. Larger than 95% of small-bay industrial buildings in Seattle (median 14,469 SF), derived from assessor records.

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Building size: 113,430 SF, King County Assessor
Lot size: 72,712 SF, King County Assessor
Year built: 1988, King County Assessor
Stories: 2, King County Assessor
Buildings on parcel: 3, King County Assessor
Predominant use: Manufacturing / Roof Parking (AREA Iii), King County Assessor
Assessed value: $27,988,300, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $246.75/SF, derived from assessor records
Lot coverage: 156%, derived from assessor records
Vintage: 1980s vintage
Zoning: C1-55 (M), King County
County use code: Industrial(Lignt)
Construction (observed): tilt up, AI estimate from public imagery
Parking (observed): surface lot, AI estimate from public imagery
Frontage (observed): mid block, AI estimate from public imagery

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

2213 15th Ave W, Seattle · 0.1 mi · 9,300 SF · built 1955 · assessed $234.37/SF
1900 15th Ave W, Seattle · 0.1 mi · 112,614 SF · built 1956 · assessed $157.57/SF
1403 W Howe St, Seattle · 0.2 mi · 14,272 SF · built 1952
1515 15th Ave W, Seattle · 0.4 mi · 18,356 SF · built 1946 · assessed $262.31/SF
1501 Elliott Ave W, Seattle · 0.4 mi · 3,175 SF · built 1958 · assessed $413.73/SF
1465 Elliott Ave W, Seattle · 0.4 mi · 59,800 SF · built 1937 · assessed $222.57/SF

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Sale history and market context

MakeMe Estimate: $33,554,124 (estimated market value), with a likely range of $25,934,778 to $33,889,665 (half of recent verified sales in this segment landed inside that range). Based on 81 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Last sold: 2021-08-10 for $27,807,240 (recorded arm's-length sale).

Current ownership dates to 2026 per recorded transfers.

2026-03-10: $5,597,660 from NM Byd II LP to NM Byd II NMFC LP (non-market transfer), rec. 20260408000687

2021-08-10: $27,807,240 from Boyd GMN INC to NM Byd II LP, rec. 20210816000344

2011-03-28: $10,000,000 from Port 106 LLC to GM Nameplate INC, rec. 20110328001394

2006-09-11: $10,025,000 from GM Nameplate INC to Port 106 LLC (part of a 3-parcel sale; price is the whole deal), rec. 20060922001929

Source: King County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

Solid line: county appraised value per King County tax rolls. Shaded range: our modeled estimate for each year, built from recorded arm's-length sales in the building's segment; years without enough sales stay unmodeled. Dots: recorded arm's-length sales. Not an appraisal. How this estimate works.

Land, site, and value history

Assessed value moved from $10,095,900 (2011) to $27,988,300 (2026), up 177% over 15 years, per county tax rolls. The 2026 roll splits $27,988,300 into $11,997,400 land and $15,990,900 improvements.

Zoning: C1-55 (M) (per King County)

Lot: 72,712 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Industrial Light Manufacturing 69,985 SF; Office Building 25,875 SF; Storage Warehouse 4,210 SF (county building sections)

County districts report (schools, fire, sewer, council; on kingcounty.gov)

Permit history

2024-11-22: Electrical, declared value $2,270 (Screened), permit 7057802-EL

2010-02-11: Other, declared value $265,000 (Complete), permit 6238713

1999-09-02: Remodel (Complete), permit 708661

1998-02-06: Remodel, declared value $887,204 (Complete), permit 696953

Source: King County permit records (newest first).