Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    N & 15 Stne Auburn, WA 98002

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    N & 15 Stne Auburn, WA 98002

    View on Map
    • Retail properties & Spaces
    • 172,203 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 N & 15 Stne

    Property size
    172,203 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Auburn North, a vibrant retail center in King County, Washington, presents an exceptional investment opportunity. Located at the intersection of Auburn Way N. & 15th St. NE, this 172,203 square foot strip center offers multiple tenancy options, with spaces ranging from 1,170 to 21,875 contiguous square feet. Currently, 44,171 square feet are available for lease. The property boasts 603 parking spaces, ensuring ample convenience for customers and employees. This strategically located center benefits from its proximity to major retailers, including LA Fitness, Big 5 Sporting Goods, Office Depot, and Dollar Tree, creating a strong synergy and high foot traffic. A significant opportunity exists with Suite 13, a two-story, stand-alone pad building currently occupied by a bank featuring a drive-thru and excellent visibility on Auburn Way North. Plans are underway to redevelop this space into a multi-tenant building, further enhancing the center's appeal and potential. Auburn, a rapidly growing suburb of Seattle, is the 15th largest city in Washington state, known for its outdoor recreation opportunities and proximity to Mt. Rainier. The property's location is also within one mile of Emerald Downs racecourse, adding to its attractive location and accessibility. This is a rare chance to acquire a well-positioned retail property in a thriving market with significant upside potential. The minimum divisible space is 1,170 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    King
    State
    Washington
    Longitude
    -122.223
    Latitude
    47.3198

    Comparable in this City

    • Value Estimation by Request
      5.68 Acres

      3734-4018 A St

      Lifestyle centers • 5.68 Acres
      3734-4018 A St, Auburn, WA 98002
      View Details
    • Value Estimation by Request

      1113 A St

      Office properties & Spaces
      1113 A St, Auburn, WA 98002
      View Details
    • Value Estimation by Request
      1,064 SF

      4107 Auburn N Way

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,064 SF
      4107 Auburn N Way, Auburn, WA 98002
      View Details
    • Value Estimation by Request
      23,857 SF

      3734 A St

      Retail properties & Spaces • 23,857 SF
      3734 A St, Auburn, WA 98002
      View Details
    • Value Estimation by Request
      2,423 SF

      902 Auburn S Way

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,423 SF
      902 Auburn S Way, Auburn, WA 98002-6101
      View Details
    • Value Estimation by Request
      2,631 SF

      1118 Auburn N Way

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,631 SF
      1118 Auburn N Way, Auburn, WA 98002
      View Details

    Similar Nearby for Sale

    • $1,650,000

      Auburn Retail/Office Investment Opportunity

      Fully leased retail/office building with upside potential in Auburn, WA.
      2 Auburn Way N, Auburn, WA 98002
      View Details
    • $1,650,000

      Auburn Retail/Office Investment Property

      10,900 SF fully leased retail/office building in Auburn, WA.
      2 Auburn Way N, Auburn, WA 98002
      View Details
    • Contact for pricing

      Auburn Warehouse/Distribution Sublease Opportunity

      Warehouse/distribution facility with office space available for sublease.
      3104 C St NE, Auburn, WA 98002
      View Details
    • $1,499,950

      Prime Auburn Way Commercial Land

      High-exposure commercial land with development potential near Highway 167.
      4735 Auburn Way North, Auburn, WA 98002
      View Details
    • Contact for pricing

      Corner Lot Ready for Development

      19,166 SqFt corner lot ready for development.
      1201 Auburn Way South Auburn WA USA, Auburn, WA 98002
      View Details
    • $1,150,000

      Contemporary Office Building in Auburn

      Modern office building with customizable layouts and excellent highway access.
      918 A St Se, Auburn, WA 98002
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Auburn Retail/Office Space

      Retail/office space in downtown Auburn, near amenities and services.
      329 E Main St, Auburn, WA 98002
      View Details
    • Contact for pricing

      Auburn Retail Space For Lease

      Retail spaces available for lease in Auburn, Washington.
      3734 A St SE, Auburn, WA 98002
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space Near Highway 18

      Retail space with highway access, ample parking, and signage.
      102-202 Cross St SE, Auburn, WA 98002
      View Details
    • Contact for pricing
      1,785 SF

      Retail Space in Auburn, WA

      Retail space available for lease in Auburn, Washington.
      3734-4018 A St SE, Auburn, WA 98002
      View Details
    • Contact for pricing
      7,000 SF

      Auburn Retail Space Available

      4,400 SF retail space with high ceilings and signage.
      3705 Auburn Way N, Auburn, WA 98002
      View Details
    • $15 SF/Yr
      1,598 SF

      Auburn Retail/Office Space Available

      1,598 SF retail or office space for lease.
      1200-1221 A St NE, Auburn, WA 98002
      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.
    N & 15 Stne
    Auburn, WA 98002
    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!