Add Listing
    For Sale
    • 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

    16313 64th St E Sumner, WA 98390

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    2.18-acre commercial land suitable for retail and multifamily development.

    Type:Land
    Property size:
    1,984 SF
    Lot size:
    2.18 Acres
    Added:
    Oct 29, 2021
    Days on Market:
    1617
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 16313 64th St E

    General Information

    Standard status
    Active
    Size
    1,984 SF
    Lot size
    2.18 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Leon Titus

    Listing agent Leon Titus License #WA 104536

    Listing office CBRE - Tacoma

    Listing date Oct 29, 2021

    Source Crexi

    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 CBRE - Tacoma

    Overview

    Sumner Commercial Land Opportunity

    This 2.18-acre commercial land in Sumner presents a development opportunity suitable for retail and multifamily ventures. The property is zoned General Commercial and is located in the East Sumner Urban Village. Existing structures include a 1,984-SF house and a 2,050-SF storage building, which currently generate rental income. The site benefits from city utilities. Its location near Hwy 410, Bonney Lake, and Lake Tapps enhances its accessibility. Demographically, the area within a 5-mile radius has a projected population of 139,960, with an average household income exceeding $100,000. The property is adjacent to the Gordon Family YMCA. Seller financing is available to qualified parties.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sumner
    County
    Pierce
    State
    Washington
    Longitude
    -122.2116016
    Latitude
    47.1996166

    Nearby Similar for Sale

    • $799,950
      87,120 SF

      Prime Commercial Land in Sumner

      High-visibility commercial land with redevelopment potential in a growing corridor.
      16219 64th St E, Sumner, WA 98390
      View Details
    • $38,200,000
      159,250 SF

      Sumner Warehouse/Manufacturing Facility For Sale

      159,250 SF warehouse/manufacturing facility with convenient access to SR-167.
      1607 136th Avenue E, Sumner, WA 98390
      View Details
    • $1,989,500
      2,520 SF

      Prime Land Near Highway 410

      Land with high visibility and access near Highway 410.
      6709 166th Ave E, Sumner, WA 98390
      View Details
    • $9,200,000

      Sumner Veterinary Hospital For Sale

      Mission-critical veterinary hospital in Sumner, WA, long-term NVA lease.
      16024 60th St E, Sumner, WA 98390
      View Details
    • $1,100,000
      2,400 SF

      Restaurant and Cafe Space

      2,400 SF free-standing restaurant and cafe space for sale.
      813 Academy Street, Sumner, WA 98390
      View Details
    • $664,000

      Sumner Church Redevelopment Opportunity

      Church for sale or lease, prime redevelopment site in Sumner.
      611 McKinnon Avenue, Sumner, WA 98390
      View Details
    • $0.75
      20,000 SF

      Sumner Warehouse Space Available

      20,000 SF dry storage space for sublease in Sumner.
      14513 32nd St E, Sumner, WA 98390
      View Details
    • $17,000,000
      77,500 SF

      77,500 SF Industrial Building

      100% leased industrial building in Sumner, Washington.
      1515 Puyallup St, Sumner, WA
      View Details
    • $1,989,500
      2,520 SF

      Prime Location Drive-Through Opportunity

      Drive-through QSR location near Highway 410 and WinCo.
      6709 166th Avenue E, Sumner, WA 98390
      View Details
    • $8,250,000
      37,395 SF

      Sumner Square Retail Investment Opportunity

      Fully leased retail property with development potential in Sumner, WA.
      15716-15720 Main St E, Sumner, WA
      View Details
    • $9,200,000
      36,348 SF

      Sumner Veterinary Hospital Investment Opportunity

      Long-term leased medical facility in Sumner, WA.
      16024-16102 60th St E, Sumner, WA 98390
      View Details
    • $1,499,000
      6,725 SF

      Sumner Office Building For Sale

      Three-story office building in Sumner with four tenants.
      1006 Fryar Ave, Sumner, WA 98390
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.18-acre commercial land suitable for retail and multifamily development.
    Where is this commercial land located?
    The property is located at 16313 64th St E Sumner, WA.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: Prime 2.18‑acre commercial land in East Sumner Urban Village with General Commercial zoning, ideal for retail and multifamily development.; Strategic location adjacent to the Gordon Family YMCA and proximity to Hwy 410, Bonney Lake, and Lake Tapps.; High‑growth area with a strong demographic profile: 139,960 population within 5 miles and average household income exceeding $100,000.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Leon Titus
    Real Estate License ID: WA 104536
    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!