Freestanding Office
For Sale
Contact for pricing
Pending
514 Auburn Way N, Auburn, WA 98002
Vacant office property with private work areas, meeting space, reception, kitchen, monument signage, and exclusive parking.
Property Size1,800 SF
Days on Market246
Property Features for 514 Auburn Way N
General Information
Standard status
Pending
Size
1,800 SF
Property subtype
OFFICE
Additional Details
Asking Price
$695,000
Road Access
Yes
Amenities
monument signage
Building Details
Buildings
1
Building Size
1,800 SF
Listing Agency:
NWC-KV LLC
(206) 787-1469
Listed By:
Fletcher Farrar
(206) 787-1469
Source:
Moodyscre
Added: Dec 10, 2025
Changed: Jul 31
Last Checked: Aug 12 at 12:21PM
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 NWC-KV LLC
Investment Insights
Based on property information with market context.
This 1,800 SF office building is vacant and available immediately for an owner-user. The interior build-out includes 4 private offices, a conference room, kitchen/break room, and reception area, providing a defined layout for office operations. Monument signage and exclusive parking are also included.
The property has frontage and visibility to Auburn Way North, supporting clear identification from the roadway. Its existing office configuration offers a ready-made setting for a range of office uses without requiring a new build-out.
The property has frontage and visibility to Auburn Way North, supporting clear identification from the roadway. Its existing office configuration offers a ready-made setting for a range of office uses without requiring a new build-out.
Key Highlights
- 1,800 SF vacant office building available immediately
- 4 private offices, conference room, kitchen/break room, and reception area
- Frontage and visibility to Auburn Way North
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,957
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$759,140
$759.1K
Cap Rate 7%
$542,243
$542.2K
Cap Rate 9%
$421,744
$421.7K
Market Conditions
NOI Build-Up for 1,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$64.8K $36.00/SF
− Vacancy
−$14.2K −$7.88/SF
EGI
$50.6K $28.12/SF
− OpEx
−$12.7K −$7.03/SF
NOI
$38.0K $21.09/SF
Area
King County, WA
Vacancy
21.90%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$759,140
Cap Rate 7%
$542,243
Cap Rate 9%
$421,744
Alternative Uses
Best Use
Office B
$542.2K
$474.5K – $632.6K
NOI $37,957 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$720.9K
$630.8K – $841.1K
NOI $50,466 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 98002, WA
38,474
Population
15,279
Households
2.5
Avg Household Size
36
Median Age
18%
College-Educated
84%
High-School Grad
7.2 sq mi
ZIP Area
5,344
Density / Sq Mi
$77,714
Median Household Income
$44,616
Median Earnings
$1,613
Median Rent
$397,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Vacant office property with private work areas, meeting space, reception, kitchen, monument signage, and exclusive parking.
Where is this office building located?
The property is located at 514 Auburn Way N Auburn, WA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 1,800 SF vacant office building available immediately; 4 private offices, conference room, kitchen/break room, and reception area; Frontage and visibility to Auburn Way North
