Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    17062 12Th Ave Shoreline, WA 98155

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 17062 12Th Ave

    Property type
    Land

    Description

    This exceptional 14,820 square foot commercial land parcel presents a unique redevelopment opportunity in Shoreline, Washington's desirable North City neighborhood. Located in the Community Business (CB) zone, this property allows for a diverse range of development options, including convenience stores, retail spaces, office buildings, and commercial services. The zoning also permits apartments and higher-density mixed-use projects, catering to the area's growing demand for both residential and commercial spaces. Its strategic location across from a Safeway and a half block from a Walgreens ensures high visibility and convenient access to essential amenities. Furthermore, the property benefits from excellent public transportation access, situated near 15th Avenue and the recently opened light rail stations at NE 185th St and NE 145th St. This prime location, coupled with the flexible zoning, makes this a highly attractive investment for developers seeking to capitalize on the North City area's continued growth and vibrant community. The asking price is $1,099,950, and the property's APN is 6163901462. The address is 17062 12th Ave NE, Shoreline, WA 98155.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Shoreline
    County
    King
    State
    Washington
    Longitude
    -122.316
    Latitude
    47.7537

    Comparable in this City

    • Value Estimation by Request

      18510 8Th Ave

      Land
      18510 8Th Ave, Shoreline, WA 98155
      View Details
    • Value Estimation by Request

      18504 8Th Ave

      Land
      18504 8Th Ave, Shoreline, WA 98155
      View Details
    • Value Estimation by Request

      18522 8Th Ave

      Land
      18522 8Th Ave, Shoreline, WA 98155
      View Details
    • Value Estimation by Request
      0.99 Acres

      139 147Th St

      Land • 0.99 Acres
      139 147Th St, Shoreline, WA 98155
      View Details
    • Value Estimation by Request
      1,070 SF

      14544 5Th Ave

      Multifamily properties • 1,070 SF
      14544 5Th Ave, Shoreline, WA 98155
      View Details
    • Value Estimation by Request

      14878 6Th Ave

      Multifamily properties
      14878 6Th Ave, Shoreline, WA 98155
      View Details

    Similar Nearby for Sale

    • $2,200,000

      Shoreline Land: Rail Station Opportunity

      Prime 13,569 SF lot, near light rail.
      18522 8Th Ave, Shoreline, WA 98155
      View Details
    • $6,825,000
      0.99 Acres

      Shoreline Commercial Land - $6.8M

      Prime MUR-70 zoned land, ideal for high-density development.
      139 147Th St, Shoreline, WA 98155
      View Details
    • $1,700,000

      Shoreline Land: Rail Station Opportunity

      Prime 9,910 SF lot, near light rail.
      18510 8Th Ave, Shoreline, WA 98155
      View Details
    • $13,000,000
      1.85 Acres

      Ridgecrest Rail Station Development

      Prime Shoreline land, light rail access.
      14701 8Th Ave, Shoreline, WA 98155
      View Details
    • $1,000,000

      Shoreline Land: Mixed-Use Potential

      Prime Shoreline land, MUR70 zoning, Light Rail proximity.
      814 185Th St, Shoreline, WA 98155
      View Details
    • $2,200,000

      Shoreline Land: Rail Station Development

      Prime 11,739 sq ft lot, near light rail.
      18516 8Th Ave, Shoreline, WA 98155
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      1,560 SF

      Shoreline Office Space For Lease

      Prime Office Suite, Ballinger Way
      19944 Ballinger Way, Shoreline, WA 98155
      View Details
    • $16 SF/Yr
      2,119 SF

      SeaTac Retail Space For Lease

      Cost-effective commercial spaces for lease with excellent visibility and access.
      15300 33Rd Ave S, Seatac, WA 98155
      View Details
    • $22 SF/Yr
      1,554 SF

      Office Space at Ballinger Park

      Office space available with reception, conference room, and kitchen.
      19936-19944 Ballinger Way NE, Shoreline, WA 98155
      View Details
    • Contact for pricing
      219,961 SF

      Lake Forest Park Retail Center

      Prime Retail Space Available Now
      17171 Bothell Way, Lake Forest Park, WA 98155
      View Details
    • $16 SF/Yr
      1,040 SF

      SeaTac Retail Space For Lease

      Cost-effective retail spaces with excellent visibility and convenient access.
      15311 33Rd Ave S, Seatac, WA 98155
      View Details
    • $24 SF/Yr
      653 SF

      Professional Office Space Available

      653 SF office suite with flexible layout for rent.
      Ballinger Way NE 20011, Shoreline, WA 98155
      View Details
    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.
    17062 12Th Ave
    Shoreline, WA 98155
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.