51 University St, Seattle, WA 98101

Office · Seattle · Seattle-Bellevue metro, WA

One of 957 reachable office buildings in Seattle. Larger than 78% of office buildings in Seattle (median 20,410 SF), derived from assessor records.

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Building size: 113,413 SF, King County Assessor
Lot size: 17,992 SF, King County Assessor
Year built: 1918, King County Assessor
Stories: 6, King County Assessor
Predominant use: Office Building, King County Assessor
Assessed value: $25,612,000, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $225.83/SF, derived from assessor records
Lot coverage: 630%, derived from assessor records
Vintage: pre-war vintage
Zoning: DMC-170, King County
County use code: Office Building

Nearby comparable buildings

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

1201 Western Ave, Seattle · 0 mi · 122,356 SF · built 1910 · assessed $146.20/SF
1201 2nd Ave, Seattle · 0.1 mi · 899,127 SF · built 2018 · assessed $258.38/SF
1191 2nd Ave, Seattle · 0.1 mi · 635,303 SF · built 1991 · assessed $226.42/SF
1008 Western Ave, Seattle · 0.1 mi · 167,860 SF · built 1905 · assessed $135.36/SF
1101 2nd Ave, Seattle · 0.1 mi · 147,672 SF · built 1968 · assessed $376.11/SF
1414 Alaskan Way, Seattle · 0.1 mi · 51,218 SF · built 1909 · assessed $201.32/SF

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Sale history and market context

MakeMe Estimate: $23,232,707 (estimated market value), with a likely range of $20,996,609 to $30,271,118 (half of recent verified sales in this segment landed inside that range). Based on 12 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Current ownership dates to 2013 (about 13 years) per recorded transfers.

2015-07-27: $146,271 from University & Western LLC to Tilt49 Office Developers LLC, rec. 20150727002022

2015-01-07: $1,059,040 from University & Western LLC to Fifth & Columbia Investors LLC (non-market transfer), rec. 20150108001500

2013-05-15: $32,500,000 from Eqr-51 University LLC to University & Western LLC (part of a 2-parcel sale; price is the whole deal), rec. 20130517001651

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 $11,617,700 (2013) to $25,612,000 (2026), up 120% over 13 years, per county tax rolls. The 2026 roll splits $25,612,000 into $13,494,000 land and $12,118,000 improvements.

Zoning: DMC-170 (per King County)

Lot: 17,992 sq ft

Rated views: Olympic Mountains, Puget Sound

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Street surface: Paved

Floor and use mix: Office Building 76,315 SF; Basement, Parking 15,591 SF; Retail Store 10,685 SF; Open Office 3,931 SF (county building sections)

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

Permit history

2022-12-13: Remodel, declared value $75,000 (Screened), permit 6937855-CN

2018-08-24: Remodel, declared value $40,000 (Screened), permit 6685312-CN

2015-07-17: Remodel, declared value $350,000 (Screened), permit 6483570

2014-09-15: Remodel, declared value $800,000 (Complete), permit 6434607

2013-11-08: Remodel, declared value $1,720,000 (Complete), permit 6380114

Source: King County permit records (newest first).