5400 Airport Way S, Seattle, WA 98108

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

Imagery suggests: industrial facility. 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 AI estimate from public imagery; may be outdated.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 85% of small-bay industrial buildings in Seattle (median 14,469 SF), derived from assessor records.

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Building size: 47,715 SF, King County Assessor
Lot size: 54,964 SF, King County Assessor
Year built: 2017, King County Assessor
Stories: 2, King County Assessor
Predominant use: Light Commercial Manufacturing, King County Assessor
Assessed value: $14,266,600, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $299/SF, derived from assessor records
Lot coverage: 87%, derived from assessor records
Vintage: 2010s vintage
Zoning: MML U/85, King County
County use code: Industrial(Lignt)
Construction (observed): metal, AI estimate from public imagery
Parking (observed): surface lot, AI estimate from public imagery

Nearby comparable buildings

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

5510 Airport Way S, Seattle · 0.1 mi · 32,369 SF · built 1998 · assessed $280.34/SF
5515 Airport Way S, Seattle · 0.1 mi · 14,160 SF · built 1947 · assessed $221.37/SF
745 S Lucile St, Seattle · 0.1 mi · 16,426 SF · built 1948 · assessed $352.70/SF
5531 Airport Way S, Seattle · 0.1 mi · 13,000 SF · built 1928 · assessed $240.77/SF
710 S Lucile St, Seattle · 0.1 mi · 15,016 SF · built 1965 · assessed $152.75/SF
707 S Lucile St, Seattle · 0.1 mi · 13,392 SF · built 1970 · assessed $208.95/SF

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Sale history and market context

MakeMe Estimate: $18,891,342 (estimated market value), with a likely range of $14,601,566 to $19,080,255 (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: 2014-10-28 for $2,250,000 (recorded arm's-length sale).

Current ownership dates to 2017 (about 9 years) per recorded transfers.

2017-11-30: $21,450,000 from NCD-GT LLC to Encore Elysian LLC (part of a 2-parcel sale; price is the whole deal), rec. 20171130001737

2016-04-28: transfer from NCD Georgetown LLC+JST George Town LLC to NCD-GT LLC (part of a 2-parcel sale; price is the whole deal), rec. 20160429001563

2014-10-28: $2,250,000 from Kelly-Moore Paint Company INC to NCD Georgetown LLC, rec. 20150116001333

2009-09-28: $1,800 from Kelly-Moore Paint CO INC to Qwest Corp, rec. 20090929001445

2004-06-28: transfer from KM Industries Holding CO INC to Kelly-Moore Paint Company INC (non-market transfer), rec. 20040921000313

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 $2,838,000 (2011) to $14,266,600 (2026), up 403% over 15 years, per county tax rolls. The 2026 roll splits $14,266,600 into $3,023,000 land and $11,243,600 improvements.

Zoning: MML U/85 (per King County)

Lot: 54,964 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 31,631 SF; Office Building 11,540 SF; Apartment 800 SF (county building sections)

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

Permit history

2023-07-06: Electrical, declared value $1,000 (Screened), permit 6973851-EL

2017-07-21: Remodel, declared value $74,812 (Complete), permit 6576670

2017-04-24: Remodel, declared value $212,856 (Complete), permit 6566925

2015-05-13: Building, New, declared value $3,657,024 (Complete), permit 6407657

2014-10-31: Demolition (Complete), permit 6425808

2011-04-08: Remodel, declared value $25,000 (Complete), permit 6273764

1998-01-07: Building, New, declared value $857,000 (Complete), permit 696396

Source: King County permit records (newest first).