5531 Airport Way S, Seattle, WA 98108

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

Imagery suggests: small 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 AI estimate from public imagery; may be outdated.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 46% of small-bay industrial buildings in Seattle (median 14,469 SF), derived from assessor records.

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Building size: 13,000 SF, King County Assessor
Lot size: 13,000 SF, King County Assessor
Year built: 1928, King County Assessor
Stories: 1, King County Assessor
Predominant use: Light Mfg, King County Assessor
Assessed value: $3,130,000, per the King County Assessor (not a market appraisal)
Assessed value per building SF: $240.77/SF, derived from assessor records
Lot coverage: 100%, derived from assessor records
Vintage: pre-war vintage
Zoning: NC3-55 (M), King County
County use code: Industrial(Gen Purpose)
Construction (observed): masonry, 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.

5515 Airport Way S, Seattle · 0 mi · 14,160 SF · built 1947 · assessed $221.37/SF
5510 Airport Way S, Seattle · 0 mi · 32,369 SF · built 1998 · assessed $280.34/SF
5620 Airport Way S, Seattle · 0.1 mi · 4,000 SF · built 1998 · assessed $225.78/SF
5622 Corson Ave S, Seattle · 0.1 mi · 7,914 SF · built 1938 · assessed $165.19/SF
5629 Airport Way S, Seattle · 0.1 mi · 9,775 SF · built 1910 · assessed $176.84/SF
745 S Lucile St, Seattle · 0.1 mi · 16,426 SF · built 1948 · assessed $352.70/SF

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Sale history and market context

MakeMe Estimate: $4,175,558 (estimated market value), with a likely range of $2,932,250 to $4,624,434 (half of recent verified sales in this segment landed inside that range). Based on 86 verified arm's-length comparable sales (through 2026-05-29). Not an appraisal. How this estimate works.

Last sold: 1997-12-22 for $456,000 (recorded arm's-length sale).

Current ownership dates to 2019 (about 7 years) per recorded transfers.

2019-04-12: $4,250,000 from Private party to Airport Way Properties LLC (part of a 3-parcel sale; price is the whole deal), rec. 20190412001137

1997-12-22: $456,000 from Private party to Private party, rec. 199712240658

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 $906,800 (2011) to $3,130,000 (2026), up 245% over 15 years, per county tax rolls. The 2026 roll splits $3,130,000 into $780,000 land and $2,350,000 improvements.

Zoning: NC3-55 (M) (per King County)

Lot: 13,000 sq ft

Water: Water District (per King County)

Sewer: Public (per King County)

Access: Public

Floor and use mix: Industrial Light Manufacturing 13,000 SF (county building sections)

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