3131 E Madison St, Seattle, WA 98112

NNN Retail · Seattle · Seattle-Bellevue metro, WA

One of 1,026 reachable nnn retail buildings in Seattle. Larger than 89% of nnn retail buildings in Seattle (median 5,208 SF), derived from assessor records.

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Building size: 24,518 SF, King County Assessor
Lot size: 11,038 SF, King County Assessor
Year built: 1986, King County Assessor
Stories: 2, King County Assessor
Predominant use: Retail & Office, King County Assessor
Assessed value: $4,459,600, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $181.89/SF, derived from assessor records
Lot coverage: 222%, derived from assessor records
Vintage: 1980s vintage
Zoning: NC2P-55 (M), King County
County use code: Retail Store

Nearby comparable buildings

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

3121 E Madison St, Seattle · 0 mi · 29,836 SF · built 1989 · assessed $206.40/SF
3130 E Madison St, Seattle · 0 mi · 31,757 SF · built 1988 · assessed $184.50/SF
2812 E Madison St, Seattle · 0.3 mi · 8,940 SF · built 1906 · assessed $336.36/SF
2800 E Madison St, Seattle · 0.3 mi · 9,453 SF · built 1912 · assessed $284.71/SF
2332 E Madison St, Seattle · 0.7 mi · 6,972 SF · built 1909 · assessed $277.35/SF
4016 E Madison St, Seattle · 0.7 mi · 3,920 SF · built 1946 · assessed $353.42/SF

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Sale history and market context

MakeMe Estimate: $4,740,698 (estimated market value), with a likely range of $3,960,384 to $5,371,167 (half of recent verified sales in this segment landed inside that range). Based on 152 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Current ownership dates to 2000 (about 26 years) per recorded transfers.

2 administrative transfers (no consideration), 1996 to 2000

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 $2,824,100 (2011) to $4,459,600 (2026), up 58% over 15 years, per county tax rolls. The 2026 roll splits $4,459,600 into $3,587,300 land and $872,300 improvements.

Zoning: NC2P-55 (M) (per King County)

Lot: 11,038 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Floor and use mix: Basement, Parking 8,738 SF; Retail Store 7,890 SF; Office Building 7,890 SF (county building sections)

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

Permit history

2024-05-06: Electrical, declared value $733 (Screened), permit 7023482-EL

2024-04-29: Electrical, declared value $338 (Screened), permit 7022255-EL

2022-10-04: Remodel (Complete), permit 6918181-CN

2022-05-27: Remodel, declared value $20,000 (Complete), permit 6890267-CN

2019-07-16: Remodel, declared value $84,700 (Screened), permit 6701618-CN

2017-08-01: Remodel, declared value $206,000 (Complete), permit 6598527

Source: King County permit records (newest first).