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Property profile

1002 15Th St SW Auburn, WA 98001

FOR LEASE
Office buildings
Property ID
US90-1397919
116,538 SF 8.39 ac lot Built 1989
Last sale Apr 2005 · $8,700,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 21-yr Hold Held for 21 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

Auburn Corporate Center II, located at 1002 15th St SW, Auburn, WA 98001, offers exceptional office space in a prime location. This two-story Class B building, constructed in 1989, boasts 116,000 square feet on 8.39 acres of land. The property features multiple tenancies, with two available spaces ranging from 2,819 to 5,559 square feet. Ample parking is provided with 428 spaces, and a convenient metro transit stop is situated directly in front of the building. Enjoy the benefits of…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2022

What does the county charge?
$180k
Tax billed · 2022
Assessed value$14.95M
Assessed land$4.75M
Assessed improvement$10.20M
Effective rate1.21%

Value estimate

· Oct 2026
$15.89M
$14.30M – $17.47M
Submarket $/SF estimate$17.55M
NOI build-up
Gross scheduled income$4.18M
Vacancy & credit loss−$915k
Operating expenses−$815k
NOI · 12,874,168.42% cap applied$2.45M

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$290/SF
Submarket average, outlier-cleaned · 50 recorded sales of this use type
Observed band · Q1–Q3$151 – $396

Cap rate analysis

How does the asset earn?
12,874,168.42%
$2.45M estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
C3
JurisdictionKING

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency16.6
Garden Center9.6
Smoke and Vape Shop9.6

Location

1002 15Th St SW Auburn, WA 98001
County assessor Recorded deeds · 5 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 16 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1302 26th NW, Auburn, WA 98001-1604 $7,090,000 Jan 2026 10,500 SF
32129 Weyerhaeuser S, Federal Way, WA 98001-9801 $4,850,000 Feb 2024 30,240 SF
3201 323rd, Federal Way, WA 98001-5023 $93,527,390 May 2022 160,493 SF
30682 Military S, Auburn, WA 98001-3215 $450,000 Sep 2021 1,920 SF
508 Main, Auburn, WA 98001-5227 $555,000 Jun 2020 1,752 SF
3450 344th, Federal Way, WA 98001-9540 $5,600,000 Jun 2019 64,965 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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