Renovated Office
For Sale
Contact for pricing
515 B St NE, Auburn, WA 98002
Move-in-ready office property with private parking and RO zoning.
Property Size1,820 SF
Price / SF$343.41
Days on Market50
Property Features for 515 B St NE
General Information
Standard status
Active
Size
1,820 SF
Property subtype
OFFICE
Zoning
RO
Listing Agency:
The Andover Company, Inc.
(206) 244-0770
Listed By:
Arne Svendsen
(206) 336-5331
Source:
Moodyscre
Added: Sep 8
Changed: Oct 26
Last Checked: Oct 26 at 1:37PM
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 The Andover Company, Inc.
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Investment Insights
Based on property information with market context.
This 1,820-square-foot office property has been newly renovated and is available immediately. The building is described as move-in ready and includes private parking for users and visitors.
Zoned RO, or residential office, the property is positioned in a quiet neighborhood with access to SR-167 and 277th St. Its office configuration and recent renovation support immediate occupancy for an office user.
Zoned RO, or residential office, the property is positioned in a quiet neighborhood with access to SR-167 and 277th St. Its office configuration and recent renovation support immediate occupancy for an office user.
Key Highlights
- 1,820 SF office property
- Newly renovated and available immediately
- Move‑in‑ready condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,378
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,560
$767.6K
Cap Rate 7%
$548,257
$548.3K
Cap Rate 9%
$426,422
$426.4K
Market Conditions
NOI Build-Up for 1,820 SF
Gross rent
$65.5K $36.00/SF
− Vacancy
−$14.3K −$7.88/SF
EGI
$51.2K $28.12/SF
− OpEx
−$12.8K −$7.03/SF
NOI
$38.4K $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 Rate 5%
$767,560
Cap Rate 7%
$548,257
Cap Rate 9%
$426,422
Alternative Uses
Best Use
Office B
$548.3K
$479.7K – $639.6K
NOI $38,378 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$729.0K
$637.8K – $850.5K
NOI $51,027 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Move-in-ready office property with private parking and RO zoning.
Where is this office building located?
The property is located at 515 B St NE Auburn, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 1,820 SF office property; Newly renovated and available immediately; Move‑in‑ready condition
