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    22511 Marine View Dr Des Moines, WA 98198

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    22511 Marine View Dr Des Moines, WA 98198

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    • Retail properties & Spaces
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    • Retail properties & Spaces

    Property Details for 22511 Marine View Dr

    Year built
    1965
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional commercial property, located at 22511 Marine View Dr S in Des Moines, WA 98198, presents a unique investment opportunity. The building, constructed in 1965, is a two-story structure classified as Class C and zoned for Downtown Commercial use within King County. The property features a total of 1,513 square feet of space currently available for lease. The tenancy is multiple, offering flexibility for various business needs. The property's "Traditional Office" subtype within a retail setting provides a versatile space suitable for a range of commercial uses. Des Moines offers a highly desirable location, approximately 20 miles south of Seattle, providing convenient access to major transportation routes and SeaTac Airport. The property's proximity to the Puget Sound waterfront adds significant appeal, with stunning water views and access to recreational activities and a first-class marina. This vibrant community, a true Northwest gem, provides a thriving market for businesses seeking a prime location with exceptional amenities. The property's zoning and location make it ideal for a variety of retail and office uses. This is a rare opportunity to secure a well-situated commercial space in a highly sought-after area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    King
    State
    Washington
    Longitude
    -122.325
    Latitude
    47.4

    Comparable in this City

    • Value Estimation by Request
      0.21 Acres

      216th St

      Land • 9,069 SF
      216th St, Des Moines, WA 98198
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    • Value Estimation
      $1,580,000
      6,700 SF

      22815 Pacific S Hwy

      OFFICE BUILDING • 6,700 SF
      22815 Pacific S Hwy, Des Moines, WA 98198-7264
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    • Value Estimation
      $2,875,000
      12,704 SF

      23200 Pacific S Hwy

      OFFICE BUILDING • 12,704 SF
      23200 Pacific S Hwy, Des Moines, WA 98198
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    • Value Estimation
      $4,135,000
      20,988 SF

      22323 Pacific S Hwy

      OFFICE BUILDING • 20,988 SF
      22323 Pacific S Hwy, Des Moines, WA 98198-5104
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    • Value Estimation by Request
      293,349 SF

      2200 216th St

      OFFICE BUILDING • 293,349 SF
      2200 216th St, Des Moines, WA 98198-6547
      View Details
    • Value Estimation
      $1,900,000
      4,992 SF

      22221 7th S Ave

      DENTAL BUILDING • 4,992 SF
      22221 7th S Ave, Des Moines, WA 98198-6223
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      21624 Pacific Highway S, Des Moines, WA 98198

      Retail properties & Spaces
      21624 Pacific Hwy S, Des Moines, WA 98198
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    • Contact for pricing

      Class A Office Suites Available

      Prime SeaTac location with nearby retail and transportation.
      21400 International Blvd, Seatac, WA 98198
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    • Contact for pricing

      Professional Office Building Suite Available

      Class 'A' office suite available with utilities included.
      22506 Marine View Dr S, Des Moines, WA 98198
      View Details
    • $2,300,000
      5,925 SF

      Des Moines Office Building For Sale

      5,925 SF office building in Des Moines, Washington.
      22608 Marine View Dr S, Des Moines, WA 98198
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    • $2,300,000

      New Office Building with Views

      New office building with Puget Sound views for sale.
      22608 Marine View Dr, Des Moines, WA 98198
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    • Contact for pricing

      Class A Office Suites Available

      Prime SeaTac location with plentiful parking and nearby amenities.
      21400 International Blvd, Seatac, WA 98198
      View Details

    Similar Nearby for Lease

    • $3,031 /Mo
      1,653 SF

      Mixed-Use Development with Commercial Spaces

      New development with retail, office, and flex space available.
      21800 Pacific Hwy S, Des Moines, WA 98198
      View Details
    • Contact for pricing

      Des Moines Mixed-Use Building

      Mixed-use building with office, retail, and basement spaces.
      22501 Marine View Dr South, Des Moines, WA 98198
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    • Contact for pricing
      1,065 SF

      New Mixed-Use Development Retail Space

      Commercial spaces available in a new mixed-use development.
      21800 Pacific Hwy S, Des Moines, WA 98198
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    • $4,527 /Mo
      1,509 SF

      Office Space on Marine View

      Office space for lease in high-traffic area.
      21804 Marine View Dr S, Des Moines, WA 98198
      View Details
    • Contact for pricing
      1,509 SF

      High-Traffic Office/Retail Space Available

      Office/retail space for lease on high-traffic Marine View Drive.
      21804 Marine View Dr S, Des Moines, WA 98198
      View Details
    • $1,953 /Mo
      1,065 SF

      Mixed-Use Development with Commercial Spaces

      New development with retail, office, and flex spaces available.
      21800 Pacific Hwy S, Des Moines, WA 98198
      View Details
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    22511 Marine View Dr
    Des Moines, WA 98198
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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.

    More about this property
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