Building Details

Year Built 1954

Year Renovated 2008

Buildings 1

Listing Agency: Madison Bay Commercial Show Phone

Listed By: Dean Anderson Show Phone

Source: Moodyscre

Added: Sep 4 Changed: Oct 1 Last Checked: Oct 20 at 7:06PM

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Investment Insights

Based on property information with market context.

Located at 903 E Street SE, this office building contains approximately 1,880 square feet on an 8,409 square foot parcel. Originally built in 1954 and renovated in 2008, the property includes private offices, reception and client meeting areas, and open workspace. ADA accessibility, monument signage, mature landscaping, and parking for five or more vehicles are also provided.

The property sits along a commercial corridor in Auburn with access to Downtown Auburn, SR-167, Highway 18, retail services, and business amenities. C-3 Commercial zoning and the existing office configuration provide a clearly defined setting for professional office operations.

Key Highlights

• Approximately 1,880 square feet of office space on an 8,409 square foot parcel
• C‑3 Commercial zoning
• Renovated in 2008; originally constructed in 1954

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,644

Cap Rate

4.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$792,880 $792.9K

Cap Rate 7%

$566,343 $566.3K

Cap Rate 9%

$440,489 $440.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,880 SF

Gross rent

$67.7K $36.00/SF

− Vacancy

−$14.8K −$7.88/SF

EGI

$52.9K $28.12/SF

− OpEx

−$13.2K −$7.03/SF

NOI

$39.6K $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%

$792,880

Cap Rate 7%

$566,343

Cap Rate 9%

$440,489

Alternative Uses

Best Use

Office B

$566.3K

$495.6K – $660.7K (±1% cap)

NOI $39,644 @ 7.0% cap · market cap 4.66%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$753.0K

$658.9K – $878.5K (±1% cap)

NOI $52,709 @ 7.0% cap · market cap 6.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

AAA Washington Insurance ... Insurance Agency Carrie Lange Insurance Agency

Suggested Use

Top Pick Tanning Salon (Bike/Boat/Book/etc) Store Catering Service Pet Store & Service Garden Center Mobile Phone Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,804

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office building - C-3 Commercial zoning with private offices, reception, client meeting areas, and open workspace.

Where is this office building located?

The property is located at 903 E Street SE Auburn, WA.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Approximately 1,880 square feet of office space on an 8,409 square foot parcel; C‑3 Commercial zoning; Renovated in 2008; originally constructed in 1954