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    Well-Designed Church with Pastor Residence Title is generated by Realmo AI

    10622 8th St E, Edgewood, WA 98372

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    For Sale
    $15,000,000

    Spacious church with sanctuary, classrooms, and separate pastor residence.

    Type:Commercial
    Property size:
    33,708 SF
    Price / SF:
    $444/SF
    Added:
    Oct 21, 2025
    Days on Market:
    227
    Last Refresh:
    Apr 5 at 8:17 pm

    Property Features for 10622 8th St E

    General Information

    Standard status
    Active
    Size
    33,708 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1959

    We can help!

    Listing Contact
    SUSIE HORAN
    SUSIE HORAN

    Listing agent SUSIE HORAN

    Listing office BERKSHIRE HATHAWAY HOME SERVICES NORTHWEST REAL ESTATE

    Listing date Oct 21, 2025

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of BERKSHIRE HATHAWAY HOME SERVICES NORTHWEST REAL ESTATE

    HighLights

    • Large 1000‑person sanctuary suitable for a growing parish.
    • Separate pastor residence included on the property.
    • Expansive reception area with entertaining space and fully equipped kitchen for large gatherings.
    • Eleven classrooms plus additional rooms for education and meetings.
    • Balcony with choir, video, and recording rooms.
    • Outdoor play area for children.

    Overview

    This well-designed and decorated church provides the necessary facilities for a growing parish. The property includes a large sanctuary with seating for 1000 people. An expansive reception area opens to an entertaining area suitable for large receptions and dinners. A fully equipped kitchen is located right off the reception area, ready to serve large gatherings. Additional features include a charming library and cafe. The education level includes 11 classrooms, with 4 more located upstairs. There is a reception office, a meeting/flex room, and private offices, plus an outdoor play area for children. The upstairs balcony provides additional parishioner seating, a full choir room, a video room, and a recording room. The property also offers ample parking. A separate pastor residence is located on the property. The property size is 33708 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Edgewood
    County
    Pierce
    State
    Washington
    Longitude
    -122.288
    Latitude
    47.2492

    Nearby Similar for Sale

    • $825,000
      2,172 SF

      Two-Story Professional Building For Sale

      Two-story commercial building with renovation potential on Meridian Street.
      1715 Meridian Ave E, Edgewood, WA 98371
      View Details
    • $15,000,000

      Well-Designed Church with Pastor Residence

      Spacious church with sanctuary, classrooms, and separate pastor residence.
      10622 8th Street E, Edgewood, WA 98372
      View Details

    FAQs

    What type of property is this?
    Church & religious facility - Spacious church with sanctuary, classrooms, and separate pastor residence.
    Where is this church & religious facility located?
    The property is located at 10622 8th St E Edgewood, WA.
    What is the asking price?
    The asking price for this property is $15,000,000.
    What are key features of this property?
    This property features: Large 1000‑person sanctuary suitable for a growing parish.; Separate pastor residence included on the property.; Expansive reception area with entertaining space and fully equipped kitchen for large gatherings.
    (206) 227-3900
    We can help!
    Listing Contact
    SUSIE HORAN
    SUSIE HORAN
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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