Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    623 Richmond Beach Rd Shoreline, WA 98177

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $4,000 /Mo ($30 SF/Yr)

    Recently remodeled retail space in Shoreline, anchored by QFC.

    Property size:
    1,600 SF
    Lot size:
    1,600 SF

    Property Features for 623 Richmond Beach Rd

    General Information

    Standard status
    Active
    Size
    1,600 SF

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Angela Oliveri
    Source: Corcoran

    Listing Agency: FIRST WESTERN PROPERTIES, INC. Listing Agent: Angela Oliveri

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

    Learn more

    Overview

    Remodeled Retail Space Available

    This recently remodeled retail space is located in a center anchored by QFC and Swedish Medical. Current tenants include Starbucks, The Greek Kitchen, and Beach House Greetings. The property offers 1,600 square feet of space. The property is located on Richmond Beach Rd in Shoreline, WA.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Shoreline
    County
    King
    State
    Washington
    Longitude
    -122.3648636
    Latitude
    47.7644653

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Ballard

      All-inclusive access to workspace, virtual office and meeting rooms in O'Hare Airport
      1455 Leary Way, Shoreline, WA 98107
      View Details
    • New
      $2,400 /Mo
      1,200 SF

      Professional Office Space Available

      Office space for professional service users with ample parking.
      18532 Firlands Way, Shoreline, WA 98133
      View Details
    • New
      $4,883 /Mo
      1,542 SF

      Shoreline Medical/Dental Office Space

      Dental office with 4 ops, across from Costco.
      1515 200Th St, Shoreline, WA 98133
      View Details
    • $22 SF/Yr
      1,554 SF

      Office Space at Ballinger Park

      Office space available with reception, conference room, and kitchen.
      19936-19944 Ballinger Way NE, Shoreline, WA 98155
      View Details
    • $20 SF/Yr
      530 SF

      Shoreline Office Space For Lease

      Office space for lease in Shoreline Aurora Village Medical Center.
      1151-1207 N 200Th St, Shoreline, WA 98133
      View Details
    • $28 SF/Yr
      1,343 SF

      Turnkey Office Suite For Lease

      Turnkey office suite in prime Shoreline location for lease.
      1207 N 152Nd St, Shoreline, WA 98155
      View Details
    • $2,006 /Mo
      1,094 SF

      Commercial Space in Shoreline, WA

      Commercial space for lease with modern amenities and customizable floorplans.
      17544 Midvale Ave N, Shoreline, WA 98133
      View Details
    • $2,884 /Mo
      1,331 SF

      Professional Office Suite Available

      Turn-key office suite with excellent visibility and convenient access.
      20011 Ballinger Way NE, Shoreline, WA 98155
      View Details
    • $3,360 /Mo
      1,680 SF

      Professional Office Suite For Rent

      Office suite in Rose Crossing Plaza with flexible layout.
      20011 Ballinger Way NE, Shoreline, WA 98155
      View Details
    • $2,240 /Mo
      960 SF

      Retail Space with Facade Signage

      Retail space featuring facade signage and recent upgrades.
      928 160Th St, Shoreline, WA 98133
      View Details
    • $2,505 /Mo
      791 SF

      High Visibility Corner Retail Space

      Retail space in a mixed-use development with outdoor patio.
      132 145Th St, Shoreline, WA 98155
      View Details
    • $2,600 /Mo
      1,300 SF

      Aurora Avenue Retail Space Available

      Retail space with enclosed patio, suitable for cafe or bar.
      15544 Aurora Ave N, Shoreline, WA 98133
      View Details

    FAQs

    What type of property is this?
    Retail space - Recently remodeled retail space in Shoreline, anchored by QFC.
    Where is this retail space located?
    The property is located at 623 Richmond Beach Rd Shoreline, WA.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: - Anchored by QFC and Swedish Medical; - Recently remodeled center; - Join Starbucks, The Greek Kitchen, and Beach House Greetings
    Request Owner's contact information
    623 Richmond Beach Rd Shoreline, WA 98177
    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.
    623 Richmond Beach Rd
    Shoreline, WA 98177
    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
    623 Richmond Beach Rd Shoreline, WA 98177
    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

    We can help!
    Listing Contact
    Angela Oliveri
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!