2540 Westlake Ave N, Seattle, WA 98109

Commercial · Seattle · Seattle-Bellevue metro, WA

One of 1,805 reachable commercial buildings in Seattle. Larger than 35% of commercial buildings in Seattle (median 7,940 SF), derived from assessor records.

Usable building area
3,393 SF, King County Assessor
Lot size
63,325 SF, King County Assessor
Year built
1975, King County Assessor
Stories
3, King County Assessor
Buildings on parcel
2, King County Assessor
Predominant use
Marina, King County Assessor
Assessed value
$4,736,200, per the King County Assessor (not a market appraisal)
Assessed value per usable SF
$1,396/SF, derived from assessor records
Usable area / lot
0.05, derived from assessor records
Vintage
1970s vintage
Zoning
C2-40, King County
County use code
Marina

Nearby comparable buildings

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

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Sale history and market context

MakeMe Estimate range: $5.21M to $7.57M (estimated market value range). This building's own 2024 recorded sale at $11.3M sits 80% above this estimate's midpoint, so we lead with the range rather than a single number. Based on 8 verified arm's-length comparable sales (through 2026-06-01). Not an appraisal. How this estimate works.

lower confidence: 7 comparable sales within 3 miles; nearest 1.1 mi. This property type carries wider measured error; treat the estimate as a starting point. Recent sale check: this building sold for $11,300,000 in 2024; the estimate is about 45% apart. Treat the recorded trade as strong evidence alongside the model. Comparable-sale caveat: the estimate is well above (more than 3x apart from) the $598.80/SF median of the shown comparable sales.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. The strongest 5 of 7 nearby verified sales are shown. Buyer and seller names are withheld. Get this data via API.

Market context: Commercial in Seattle

median verified sale $529.93/SF over the trailing 24 months; 37 sales in the last 12 months and 66 in 24 (newest verified sale 2026-05); the middle 80% of recent sales traded at 0.72x to 1.89x their county assessed value, median 1.08x (64 sales with usable county values).

  • 2022: $516.78/SF median (29 sales)
  • 2023: $485.41/SF median (28 sales)
  • 2024: $533.38/SF median (24 sales)
  • 2025: $478.16/SF median (37 sales)
  • 2026 YTD: $669.37/SF median (10 sales)

This estimate sits at 1.32x county assessed value, the 73rd percentile of those recent sale premiums.

Computed from 1,281 verified arm's-length sales in King County public records (66 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 2024-08-30 for $11,300,000 (recorded arm's-length sale).

Current ownership dates to 2024 (about 2 years) per recorded transfers.

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

Value over time

$0$5M$10M$15M201120142017202020232026Last sold $11.3M · 2024$6.27M$4.74MCounty assessed valueMakeMe Estimate rangeRecorded sale

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 $1,754,600 (2011) to $4,736,200 (2026), up 170% over 15 years, per county tax rolls. The 2026 roll splits $4,736,200 into $1,583,100 land and $3,153,100 improvements.

Taxes

Permit history

Source: King County permit records (newest first).