Ground-Floor Office
For Sale
$1,300,000
600 S 227th St, Des Moines, WA 98198
Vacant commercial condominium with established professional-office layout and nine parking spaces.
Property Size3,282 SF
Price / SF$396.10
Days on Market35
Property Features for 600 S 227th St
General Information
Standard status
Active
Size
3,282 SF
Total Parking Spaces
9
Property subtype
Commercial
Additional Details
Floor
Ground Floor
Highway Access
Yes
Building Details
Year Built
2000
Listing Agency:
Engel & Voelkers Seattle DT
Listed By:
Roberto Laing
(206) 623-9697
Source:
Pierceandkingcountyhouses
Added: Sep 2
Changed: Oct 1
Last Checked: Oct 5 at 6:58PM
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 Engel & Voelkers Seattle DT
Investment Insights
Based on property information with market context.
This ground-floor commercial condominium contains approximately 3,282 SF in a corner configuration and will be delivered vacant. The existing office buildout includes 9 private offices, a large conference room/library, reception and waiting areas, a kitchen, three restrooms, and substantial storage. Several offices are large enough to serve as meeting or conference rooms.
The property includes 9 parking spaces and is near the Des Moines Marina, waterfront destinations, restaurants, parks, and downtown amenities. Access is available to I-5, SR-509, and Sea-Tac Airport. The condominium declaration allows office and retail use, subject to applicable zoning and condominium requirements. Property records identify the commercial unit as 600 S 227th St #COML, with a commercial entrance and mailing address at 612 S 227th St.
The property includes 9 parking spaces and is near the Des Moines Marina, waterfront destinations, restaurants, parks, and downtown amenities. Access is available to I-5, SR-509, and Sea-Tac Airport. The condominium declaration allows office and retail use, subject to applicable zoning and condominium requirements. Property records identify the commercial unit as 600 S 227th St #COML, with a commercial entrance and mailing address at 612 S 227th St.
Key Highlights
- Approximately 3,282 SF ground‑floor commercial condominium
- 9 private offices plus conference room/library, reception, kitchen, three restrooms, and storage
- 9 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,208
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,384,160
$1.4M
Cap Rate 7%
$988,686
$988.7K
Cap Rate 9%
$768,978
$769.0K
Market Conditions
NOI Build-Up for 3,282 SF
Gross rent
$118.2K $36.00/SF
− Vacancy
−$25.9K −$7.88/SF
EGI
$92.3K $28.12/SF
− OpEx
−$23.1K −$7.03/SF
NOI
$69.2K $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%
$1,384,160
Cap Rate 7%
$988,686
Cap Rate 9%
$768,978
Alternative Uses
Best Use
Office B
$988.7K
$865.1K – $1.15M
NOI $69,208 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $92,017 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Explore this area
Business Placement
Demographics for 98198, WA
38,727
Population
15,267
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
7.7 sq mi
ZIP Area
5,029
Density / Sq Mi
$83,938
Median Household Income
$48,776
Median Earnings
$1,770
Median Rent
$527,100
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Vacant commercial condominium with established professional-office layout and nine parking spaces.
Where is this office units located?
The property is located at 600 S 227th St Des Moines, WA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approximately 3,282 SF ground‑floor commercial condominium; 9 private offices plus conference room/library, reception, kitchen, three restrooms, and storage; 9 on‑site parking spaces
