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Property profile & analytics
FOR LEASE
Medical Office Space
101 2Nd St NE Auburn, WA 98002
Entity Owned
Free & Clear
Property ID
US90-1310650
For Lease
1 / 2
Contact for pricing
101 2Nd St NE, Auburn, WA 98002
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Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
17,740 SF
Lot
0.58 ac (25,242 SF)
Zoning code
DUC
APN
049250-0215
UPID
US90-1310650
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.73M
Blend (final)
Blend
$2.43M
Owner & transaction history
Davis Medical LLC
Davis Medical LLC
since 2025
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
DUC · Auburn, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
theast Auburn Special Area Plan and Auburn Gateway Planned Action 18.09 R-MHC Manufactured/Mobile Home Community Zone 18.21 Overlays 18.23 Commercial and Industrial Zones 18.25 Middle Housing Development Standards 18.29 DUC Downtown Urban Center District 18.31 Supplemental Development Standards 18.32 Accessory Dwelling Unit Development Standards 18.35 Specia…
Zone name
Downtown Urban Center
General category
CIVIC_INSTITUTIONAL
Zone area
167.83 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Auburn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Auburn submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.43M
Range $2.19M – $2.67M · ±10% · vs last sale $3.15M (Jun 17 2025)
Last sale anchor
$3.15M
Jun 17 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$137 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$38,104
Tax year 2022
Assessed value
$3,106,500
Assessed 2022
Previous assessed
$3,106,500
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$378,600
Assessed improvement
$2,727,900
Land market value
$378,600
Improvement market value
$2,727,900
Total market value
$3,106,500
Applied tax rate
133.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Total area
17,740 SF
Lot
0.58 ac (25,242 SF)
Zoning code
DUC
APN
049250-0215
UPID
US90-1310650
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
DUC · Auburn, WAZoning DUC · permitted uses
DUC · Auburn, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
theast Auburn Special Area Plan and Auburn Gateway Planned Action 18.09 R-MHC Manufactured/Mobile Home Community Zone 18.21 Overlays 18.23 Commercial and Industrial Zones 18.25 Middle Housing Development Standards 18.29 DUC Downtown Urban Center District 18.31 Supplemental Development Standards 18.32 Accessory Dwelling Unit Development Standards 18.35 Special Purpose Zones 18.36 Repealed 18.38 L-F Airport Landing Field District, Overlay, a
Zone name
Downtown Urban Center
General category
CIVIC_INSTITUTIONAL
Zone area
167.83 ac
Building & site characteristics
From public records
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Stories
1
Lot
0.58 ac
Current owner
From public records · entity-resolved
Davis Medical LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 1409, AUBURN, WA 98071-1409
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2025
$3,150,000
Davis Medical LLC
South Sound Surgery Properties LLC
Warranty Deed
—
Oct 28, 2019
—
South Sound Surgery Properties LLC
—
Deed
related
—
May 17, 2018
—
South Sound Surgery Prop LLC
Conrad,john
Quit Claim Deed
related
—
Apr 3, 2017
—
John Conrad
Auburn Surgical Center LLC
Quit Claim Deed
related
$2,178,686 · Us Bank NA
Dec 13, 2011
$2,750,000
Auburn Surgical Center LLC
Caroline Jill Davis
Warranty Deed
$2,475 · Us Bank NA
Aug 23, 2007
—
Davis Caroline J Trust
Davis,caroline J
Quit Claim Deed
related
—
Jun 20, 1997
$1,580,000
Caroline J Davis
Johnson,nancy A
Grant Deed
—
Apr 15, 1994
—
Thomas Familty LP
Auburn Ear Nose
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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