Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Commercial Lot on Auburn Way Title is generated by Realmo AI

    223 3rd St NE, Auburn, WA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial lot in Auburn, water and sewer in street.

    Type:LAND
    Lot size:
    0.09 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    174
    Last Refresh:
    Apr 5 at 8:47 pm

    Property Features for 223 3rd St NE

    General Information

    Standard status
    Active
    Lot size
    0.09 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Bill VanEngelenburg
    Bill VanEngelenburg

    Listing agent Bill VanEngelenburg

    Listing office RE/MAX Realty South

    Listing date Nov 24, 2025

    Source Moodyscre

    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 RE/MAX Realty South

    HighLights

    • Commercial lot on Auburn Way.
    • Located in the heart of Auburn.
    • Water and sewer in the street.
    • Suitable for a coffee shop.
    • Easy access.
    • Growing city.

    Overview

    This commercial lot is situated on Auburn Way in Auburn. Water and sewer connections are located in the street. The property may be suitable for a coffee shop. Buyers are advised to verify all information.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Auburn
    County
    King
    State
    Washington
    Longitude
    -122.227
    Latitude
    47.3101

    Nearby Similar for Lease

    • $13,000/Mo
      5,705 SF

      Auburn Yard and Office Space

      22,000 SF yard with office and warehouse space available.
      1400 W Main St, Auburn, WA 98001
      View Details
    • $15 SF/Yr
      1,598 SF

      Auburn Retail/Office Space Available

      1,598 SF retail or office space for lease.
      1200-1221 A Street NE, Auburn, WA
      View Details
    • $0.37 SF/Yr
      1,500 SF

      Auburn Yard with Office Building

      Auburn location with yard and 1,500 SF office.
      121 49th St NW, Auburn, WA 98001
      View Details
    • $1.35 SF/Yr
      3,500 SF

      Remodeled Industrial Incubator Space

      3,500 SF industrial space available for lease immediately.
      3401, 3411, 3419 C Street NE, Auburn, WA 98002
      View Details
    • $528/Mo
      7,040 SF

      Auburn Office Space For Lease

      7,040 SF office space available for lease in Auburn, WA.
      903 E Main St, Auburn , WA 98002
      View Details
    • $0.37 SF/Yr
      1,500 SF

      Auburn Touchdown Yard Available

      Auburn location with easy access to SR 167 & I-5.
      121 49th St NW, Auburn, WA 98001
      View Details
    • $17 SF/Yr
      116,000 SF

      Auburn Office Space For Lease

      Office space with highway access and transit stop in front.
      1002 & 1102 15th St SW, Auburn, WA 98001
      View Details
    • Contact for pricing
      13,506 SF

      Warehouse/Distribution Facility with Office Space

      Auburn warehouse/distribution facility with office space for sublease.
      3500 W Valley Hwy N, Auburn, WA 98001
      View Details
    • $58 SF/Yr
      861 SF

      Auburn Retail Space Available

      Retail space available for lease in Auburn, Washington.
      1404-1416 Lake Tapps Pkwy E, Auburn, WA
      View Details
    • $1.00 SF/Yr
      70,345 SF

      Industrial Space in Auburn

      Industrial property available for lease in Auburn, Washington.
      1620 Industry Dr SW, Auburn, WA 98001
      View Details
    • $1.35 SF/Yr
      24,500 SF

      Auburn Industrial Incubator Space

      3,500 SF industrial space available for lease.
      3401, 3411, 3419 C Street NE, Auburn, WA 98002
      View Details
    • $25 SF/Yr
      1,201 SF

      Retail Space on Auburn Way

      Retail space for lease with signage opportunities.
      1210 Auburn Way N, Auburn, WA
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial lot in Auburn, water and sewer in street.
    Where is this commercial land located?
    The property is located at 223 3rd St NE Auburn, WA.
    What are key features of this property?
    This property features: Commercial lot on Auburn Way.; Located in the heart of Auburn.; Water and sewer in the street.
    (206) 650-4435 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bill VanEngelenburg
    Bill VanEngelenburg
    Learn More
    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
    223 3rd St NE, Auburn, WA
    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!