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

    2748 Milton Way Milton, WA 98354

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $3,503 /Mo

    Unfinished 2,473 SF office space ready for improvements.

    Type:Commercial
    Property size:
    2,473 SF
    Added:
    Jan 21, 2026
    Days on Market:
    90
    Last Refresh:
    Apr 5 at 11:25 pm

    Property Features for 2748 Milton Way

    General Information

    Standard status
    Active
    Size
    2,473 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1991

    We can help!

    Listing Contact
    TIMOTHY JOHNSON

    Listing agent TIMOTHY JOHNSON

    Listing office TIMOTHY JOHNSON COMMERCIAL PROPERTIES, LLC

    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 TIMOTHY JOHNSON COMMERCIAL PROPERTIES, LLC

    Overview

    Unfinished Office Space Available

    Suite 210 offers 2,473 square feet of unfinished office space. The suite features a bank of windows that overlook the Milton neighborhood. The space is ready for tenant improvements and can be combined with other vacancies for additional space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Surprise Lake Professional ... Medical Clinic Hopkins & Associates Dental Office Franciscan Medical Clinic ... Medical Clinic Chenoa A. Torklep, LMP Physician Estrelino D Velasco ... Pediatrician

    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
    Milton
    County
    Pierce
    State
    Washington
    Longitude
    -122.297
    Latitude
    47.2505

    Nearby Similar for Lease

    • Contact for pricing

      Milton House/Office with Large Yard

      House/Office with 15,000 SF yard in Milton, WA.
      95 5th Ave, Milton, WA 98354
      View Details
    • Contact for pricing

      Secured Truck Yard with Repair

      Fenced truck yard with repair shop near Port of Tacoma.
      300 Birch Street, Milton, WA 98354
      View Details
    • Contact for pricing

      Fenced Truck Yard with Shop

      2.08 acre fenced truck yard with repair shop.
      300 Birch Street, Milton, WA 98354
      View Details
    • Contact for pricing

      Kent Valley Industrial New Construction

      New construction industrial space in close-in Kent Valley location.
      50 5th Ave, Milton, WA
      View Details
    • Contact for pricing

      Kent Valley New Construction Opportunity

      New industrial construction for rent near I-5 and Tacoma Port.
      70 5th Ave, Milton, WA
      View Details
    • Contact for pricing

      Kent Valley New Construction Opportunity

      New industrial construction for lease near I-5 and Tacoma Port.
      60 5th Ave, Milton, WA
      View Details
    • $21/mo

      Corner Office Space Available

      Office suite featuring natural light and spacious work areas.
      2748 Milton Way, Milton, WA
      View Details
    • Contact for pricing

      Corner Office Space Available

      Office suite with natural light and spacious work area.
      2748 Milton Way, Milton, WA 98354
      View Details
    • Contact for pricing

      Professional Office Spaces Available

      Quality office spaces for lease in well-maintained professional building.
      2748 Milton Way, Milton, WA 98354
      View Details
    • Contact for pricing

      Grocery Anchored Shopping Center Space

      Neighborhood shopping center with national anchors and high visibility.
      816-900 Meridian Ave E, Milton, WA 98354
      View Details
    • $24/mo

      Retail Space in Milton, WA

      Retail space available for lease in Milton, Washington.
      900-980 Meridian Ave E, Milton, WA
      View Details

    FAQs

    What type of property is this?
    Office units - Unfinished 2,473 SF office space ready for improvements.
    Where is this office units located?
    The property is located at 2748 Milton Way Milton, WA.
    What is the lease rate?
    The lease rate is $3,503 /Mo.
    What are key features of this property?
    This property features: Large, unfinished space (2,473sf) allows for customized tenant improvements.; Bank of windows provides natural light and views of the Milton neighborhood.; Opportunity to combine with other vacant spaces for an even larger footprint.
    We can help!
    Listing Contact
    TIMOTHY JOHNSON
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!