Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Development with Commercial Spaces Title is generated by Realmo AI

    21800 Pacific Hwy S, Des Moines, WA 98198

    View on Map
    Claim this Listing
    For Lease
    $1,953/Mo $22 SF/Yr (calc)

    New development with retail, office, and flex spaces available.

    Type:Commercial
    Property size:
    1,065 SF
    Added:
    Jan 21, 2026
    Days on Market:
    134
    Last Refresh:
    Apr 5 at 11:31 pm

    Property Features for 21800 Pacific Hwy S

    General Information

    Standard status
    Active
    Size
    1,065 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2020

    We can help!

    Listing Contact
    CRAMER FOSTER

    Listing agent CRAMER FOSTER

    Listing office WESTCOM PROPERTIES, INC.

    Listing date Jan 21, 2026

    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 WESTCOM PROPERTIES, INC.

    HighLights

    • New 9‑building development project.
    • Includes 3 mixed‑use buildings with commercial spaces.
    • 6 multi‑family buildings with 326 apartment units.
    • Commercial spaces suitable for retail, professional, and flex uses.
    • Commercial space sizes range from 1,065 sf to 3,077 sf (combinable).
    • Built in 2020.

    Overview

    This new nine-building development project features three mixed-use buildings offering commercial spaces, alongside six multi-family buildings comprising a total of 326 apartment units. The commercial spaces are suitable for retail, professional, and flex applications. Individual spaces range in size from 1,065 square feet to 3,077 square feet, with the possibility of combining some spaces. The property is located at 21800 Pacific Hwy S, Des Moines, WA 98198. The Tax ID number is 2156400263.
    Property Profile 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 Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    King
    State
    Washington
    Longitude
    -122.2980362
    Latitude
    47.4057211

    Nearby Similar for Lease

    • $22 SF/Yr
      818 SF

      Des Moines Waterfront Office Space

      Professional office space with ocean views in thriving Marina District.
      22007 Marine View Drive S, Des Moines, WA 98198
      View Details
    • $2,915/Mo
      1,019 SF

      Des Moines Office Space Available

      Office suite for rent with utilities included and free parking.
      22506 Marine View Dr S, Des Moines, WA 98198
      View Details
    • $3,031/Mo
      1,653 SF

      Mixed-Use Development with Commercial Spaces

      New development with retail, office, and flex space available.
      21800 Pacific Hwy S, Des Moines, WA 98198
      View Details
    • $4,527/Mo
      1,509 SF

      Office Space on Marine View

      Office space for lease in high-traffic area.
      21804 Marine View Dr S, Des Moines, WA 98198
      View Details
    • $2,648/Mo
      1,513 SF

      Prime Retail Frontage Available

      Retail space for rent on busy Marine View Drive.
      22509 Marine View Dr S, Des Moines, WA 98198
      View Details
    • $14 SF/Yr
      1,762 SF

      Des Moines Retail Space Available

      New commercial retail spaces in the heart of Des Moines.
      22525 7th Ave S, Des Moines, WA
      View Details
    • $42 SF/Yr
      3,282 SF

      Turnkey Office Space Near Marina

      Professional office suite in walkable marina-front district with parking.
      612 S 227th St, Des Moines, WA
      View Details
    • $22 SF/Yr
      8,057 SF

      Waterfront-Adjacent Professional Office Space

      Professional office space with ocean views in Des Moines.
      22007 Marine View Drive S, Des Moines, WA 98198
      View Details
    • $20 SF/Yr
      746 SF

      Des Moines Office Space Available

      746 square feet of office space for lease.
      22221 7th Ave S, Des Moines, WA
      View Details
    • $1.00 SF/Yr
      575 SF

      Des Moines Office/Retail/Yard Space

      Office, retail, and yard space available in Des Moines.
      20710 1st Ave S, Des Moines, WA
      View Details
    • $36 SF/Yr
      1,509 SF

      High-Traffic Office/Retail Space Available

      Office/retail space for lease on high-traffic Marine View Drive.
      21804 Marine View Dr S, Des Moines, WA
      View Details
    • $21 SF/Yr
      1,513 SF

      Prime Retail Frontage on Marine

      Retail space for rent in Des Moines, Washington.
      22509-22517 Marine View Dr S, Des Moines, WA
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - New development with retail, office, and flex spaces available.
    Where is this mixed-use property located?
    The property is located at 21800 Pacific Hwy S Des Moines, WA.
    What is the lease rate?
    The lease rate is $1,953 /Mo.
    What are key features of this property?
    This property features: New 9‑building development project.; Includes 3 mixed‑use buildings with commercial spaces.; 6 multi‑family buildings with 326 apartment units.
    We can help!
    Listing Contact
    CRAMER FOSTER
    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
    21800 Pacific Hwy S, Des Moines, WA 98198
    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!