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    17100-17250 Southcenter Pkwy Tukwila, WA 98188
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    17100-17250 Southcenter Pkwy, Tukwila, WA 98188

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    • Retail properties & Spaces
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    Cap Rate Potential
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    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 17100-17250 Southcenter Pkwy

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Southcenter Square offers a prime retail or restaurant opportunity in Tukwila, WA, at 17100-17250 Southcenter Pkwy, 98188. This multi-tenant property currently has 6,078 square feet of vacant space available, divisible into units as small as 3,404 square feet and expandable up to a contiguous 9,372 square feet. The space is ideally suited for a junior anchor tenant, offering excellent visibility and high foot traffic. A prominent pylon signage opportunity is also available, enhancing brand visibility. The property is located in a thriving commercial area, providing easy access for customers and employees. While one space is currently occupied by AAA Travel & Cruise (please do not disturb), the vacant space will be available in the first quarter of 2025. This presents a unique chance to establish a strong presence in a busy and desirable location. The property's strategic location and ample space make it an attractive option for businesses seeking to expand or establish a new location in the Southcenter area. Interested parties should inquire about lease terms and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tukwila
    County
    King
    State
    Washington
    Longitude
    -122.26
    Latitude
    47.4495

    Comparable in this City

    • Value Estimation by Request
      44,470 SF

      17025 Southcenter Pkwy

      Neighborhood centers
      17025 Southcenter Pkwy, Tukwila, WA 98188
      View Details
    • Value Estimation
      $14,210,000
      97,961 SF

      17150 Southcenter Pkwy

      DEPARTMENT STORE
      17150 Southcenter Pkwy, Tukwila, WA 98188-3333
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    • Value Estimation by Request
      468,857 SF

      Southcenter Pkwy & Minkler Blvd

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      25,560 SF

      5951 180Th St

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      5951 180Th St, Tukwila, WA 98188
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    • Value Estimation by Request
      2,196 SF

      16350 Vly Hwy

      RESTAURANT
      16350 Vly Hwy, Tukwila, WA 98188-5580
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    • Value Estimation by Request
      2,684 SF

      15010 Tukwila International Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD
      15010 Tukwila International Blvd, Seattle, WA 98188-2244
      View Details

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      Retail Space Near Southcenter Mall

      Available retail space close to Westfield Southcenter Mall and I-5.
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    • $5,600,000
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      Southcenter Parkway Retail Opportunity

      Retail property with high visibility on Southcenter Parkway.
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    • $5,890,000
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      Tukwila Freestanding Retail/Office Building

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      Tukwila Industrial Flex Space

      41,286 SF building suitable for industrial, flex, retail uses.
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      Tukwila Office Building For Sale

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      Flexible Use Development Site

      Development site near Southcenter Mall with access to I-5.
      444 Andover Park East, Tukwila, WA 98188
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    Similar Nearby for Lease

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      40,400 SF

      Tukwila Retail Space Available

      Retail property available for lease in Tukwila, Washington.
      17500 Southcenter Pkwy, Tukwila, WA 98188
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      Tukwila Retail and Commercial Center

      Premier commercial and retail hub in Tukwila, Washington.
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      Retail Space in Southcenter Parkway

      Flexible retail space in a high-traffic location.
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    • $8,719 /Mo
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      Prime Retail Space For Rent

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      SeaTac Commercial Spaces For Lease

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      Cost-effective commercial spaces for lease in SeaTac.
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    Tukwila, WA 98188
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    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.

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