Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Spanaway Land Parcel For Sale Title is generated by Realmo AI

    21812 Mountain Hwy E, Spanaway, WA 98387

    View on Map
    Claim this Listing
    For Sale
    $610,000

    Large land parcel available in Spanaway, Washington.

    Type:Commercial
    Property size:
    96,267 SF
    Price / SF:
    $6/SF
    Added:
    Mar 7, 2023
    Days on Market:
    1187
    Last Refresh:
    May 10 at 11:55 pm

    Property Features for 21812 Mountain Hwy E

    General Information

    Standard status
    Active
    Size
    96,267 SF
    Property subtype
    Commercial

    We can help!

    Listing Contact
    RAY VELKERS

    Listing agent RAY VELKERS

    Listing office FIRST WESTERN PROPERTIES - TACOMA, INC.

    Listing date Mar 7, 2023

    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 FIRST WESTERN PROPERTIES - TACOMA, INC.

    HighLights

    • Tax iD #: 0318104046

    Overview

    This property is a land parcel located in Spanaway, Washington. The property has a size of 96267 square feet. The tax ID number is 0318104046.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Spanaway
    County
    Pierce
    State
    Washington
    Longitude
    -122.403
    Latitude
    47.0577

    Nearby Similar for Sale

    • $135,000

      Spanaway Lot in Quiet Cul-de-Sac

      Third-acre lot in Spanaway, close to amenities and schools.
      4208 252nd Street Ct East, Spanaway, WA 98387
      View Details
    • $2,300,000
      7,571 SF

      Spanaway Showroom and Service Garage

      7,571 SF building with showroom and service garage.
      16002 Pacific Ave S, Spanaway, WA 98387
      View Details
    • $2,300,000

      High-Traffic Automotive/Retail Opportunity

      Former auto showroom with service bays on Pacific Avenue.
      16002 Pacific Ave S, Spanaway, WA
      View Details
    • $508,600
      4,800 SF

      Retail Space on Pacific Avenue

      Retail location with high exposure and ample parking.
      18823 Pacific Ave S, Spanaway, WA 98387
      View Details
    • $5,200,000

      Fully Leased Spanaway Office Buildings

      Four single-story, multi-tenant office buildings for sale.
      16204 Pacific Ave S, Spanaway, WA 98387
      View Details
    • $1,400,000
      4,200 SF

      Former Bingo Hall with Parking

      4,200 SF building with rental house and parking.
      22316 Mountain Hwy E, Spanaway, WA 98387
      View Details
    • $5,200,000

      Fully Leased Spanaway Office Buildings

      Four single-story office buildings, fully leased to multiple tenants.
      16204-16218 Pacific Ave S, Spanaway, WA
      View Details
    • $870,000

      Spanaway Land Parcels For Sale

      Six cleared land parcels totaling approximately 26,670 SF in Spanaway.
      230 170th Street E #39-44, Spanaway, WA 98387
      View Details
    • $2,720,000
      2,989 SF

      Spanaway Specialty Property For Sale

      Specialty property in Spanaway, WA, offering 2989 square feet.
      19918 Mountain Hwy E, Spanaway, WA 98387
      View Details
    • $375,000

      Secluded 5+ Acre Home Site

      Private 5+ acre lot with power and well installed!
      22110 70th Avenue, Spanaway, WA 98387
      View Details
    • $1,200,000

      Land in Developing Neighborhoods

      Land with development potential in an area of growing neighborhoods.
      20315 22nd Avenue E, Spanaway, WA 98387
      View Details
    • $790,000

      Commercial Land on Highway 7

      10 acres of commercial land with highway exposure.
      26527 Mountain Hwy, Spanaway, WA 98387
      View Details

    FAQs

    What type of property is this?
    Land - Large land parcel available in Spanaway, Washington.
    Where is this land located?
    The property is located at 21812 Mountain Hwy E Spanaway, WA.
    What is the asking price?
    The asking price for this property is $610,000.
    What are key features of this property?
    This property features: Tax iD #: 0318104046
    We can help!
    Listing Contact
    RAY VELKERS
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    21812 Mountain Hwy E, Spanaway, WA 98387
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!