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    Property profile & analytics

    10818 Myers Way Seattle, WA 98168

    • Warehouses
    • 2,726 SF
    • 0.29 lot acres
    For Sale
    View listing
    $4,000,000
    Last Sale
    Jun 19, 2020
    $1,040,000
    Value Estimations
    Cap Rate Potential
    3%
    Warehouses
    Location Intelligence
    Property ID
    US90-0591112
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Macadons (Headquarter) / Wholesale Bakery
    • Vinason Kitchen / Restaurant

    Property Details for 10818 Myers Way

    Year built
    1975
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.29 lot acres
    Property size
    2,726 SF
    Zone code
    CBSO
    Property type
    Warehouses
    APN
    079500-0025
    APU
    795000025

    Description

    This exceptional Seattle industrial property, located at 10818 Myers Way S, offers a compelling investment opportunity. The property encompasses a substantial 10,833 square feet of warehouse and distribution space, spread across three single-story buildings situated on a 0.285-acre lot. Built in 1975, the property boasts a desirable location in King County, Washington, with the zip code 98168. The asking price is $4,000,000, translating to a price per square foot of $369.24. This represents a strong value proposition for investors seeking a well-located, established industrial asset in a thriving market. The property's size and configuration make it suitable for a variety of distribution and warehousing operations. Its strategic location within Seattle provides easy access to major transportation arteries, facilitating efficient logistics and distribution networks. The property's solid construction and established infrastructure offer immediate occupancy and operational readiness. Detailed property information and specifications are available upon request. This is an excellent opportunity to acquire a high-quality industrial property in a prime Seattle location. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,010,000
      ML approach
      $1,045,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,243,000
      Market price range: $494k - $1.24M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $805,000
      Current use
      COMMERCIAL (GENERAL)
      $1,380,000
      Change: +71% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,120,000
      Change: +39% Conversion: Easy
      RETAIL STORES
      $1,095,000
      Change: +36% Conversion: Moderate
      OFFICE BUILDING
      $965,000
      Change: +20% Conversion: Difficult
      MEDICAL BUILDING
      $935,000
      Change: +16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.332
    Latitude
    47.506
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $13,315
    $223,800
    $760,400
    $984,200
    -
    $223,800
    $760,400
    $984,200

    Comparable in this City

    • Value Estimation
      $4,385,000
      38,360 SF

      6440 144th St

      WAREHOUSE, STORAGE • 38,360 SF
      6440 144th St, Tukwila, WA 98168-4609
      View Details
    • Value Estimation
      $1,405,000
      11,506 SF

      10847 Marginal S Way

      WAREHOUSE, STORAGE • 11,506 SF
      10847 Marginal S Way, Tukwila, WA 98168-1931
      View Details
    • Value Estimation by Request
      1,738 SF

      14460 Des Moines Memorial S Dr

      MINI-WAREHOUSE, STORAGE • 1,738 SF
      14460 Des Moines Memorial S Dr, Seatac, WA 98168-3721
      View Details
    • Value Estimation
      $13,170,000
      79,540 SF

      12855 48th S Ave

      WAREHOUSE, STORAGE • 79,540 SF
      12855 48th S Ave, Tukwila, WA 98168-3301
      View Details
    • Value Estimation by Request
      9,660 SF

      3425 146th St

      WAREHOUSE, STORAGE • 9,660 SF
      3425 146th St, Tukwila, WA 98168-4309
      View Details
    • Value Estimation
      $2,760,000
      21,000 SF

      2922 112th St

      WAREHOUSE, STORAGE • 21,000 SF
      2922 112th St, Tukwila, WA 98168-1800
      View Details

    Similar Nearby for Sale

    • $4,000,000
      10,833 SF

      Seattle Industrial Distribution Center

      10,833 SF Warehouse, $4M Asking
      10818 Myers Way, Seattle, WA 98168
      View Details
    • Contact for pricing
      28,403 SF

      Tukwila Flex Space Available

      Flex space with quick I-5 access in Tukwila submarket.
      3514 South 116Th St, Seattle, WA 98168
      View Details
    • $4,000,000

      Equipped Commercial Kitchen For Sale

      Occupied commercial kitchen with grade-level loading and high ceilings.
      10818 Myers Way S, Seattle, WA 98168
      View Details
    • $694,000

      Residential Land with Development Potential

      Land with options for development near transit in Seattle, WA.
      10616 8Th Ave S, Seattle, WA 98168
      View Details
    • $3,200,000
      18,362 SF

      Prime Commercial Property in Seatac

      Versatile commercial building in high-traffic area near the Airport.
      2040 142Nd St, Seatac, WA 98168
      View Details
    • $785,000

      Development Opportunity Near Rainier Golf

      Two platted lots near Seattle, ideal for multifamily development.
      11250 Military Rd S, Seattle, WA 98168
      View Details

    Similar Nearby for Lease

    • $12,750 /Mo
      7,500 SF

      Tukwila Warehouse Space Available

      7,500 SF warehouse space for lease in Tukwila.
      3215 South 116Th St, Tukwila, WA 98168
      View Details
    • Contact for pricing
      50,444 SF

      Warehouse Near SeaTac Airport Tarmac

      Warehouse space with dock doors and secure truck court.
      1842 S 144Th St, Seatac, WA 98168
      View Details
    • $1.25 SF/Yr
      5,786 SF

      Tukwila Warehouse Space Available

      Warehouse space available for rent in Tukwila, Washington.
      12664-12668 Interurban Ave S, Tukwila, WA 98168
      View Details
    • $1.92 SF/Yr
      5,009 SF

      Tukwila Flex Space Available

      Flex space in Tukwila with easy access to amenities.
      4487-4497 S 134Th Pl, Tukwila, WA 98168
      View Details
    • Contact for pricing
      5,050 SF

      Tukwila Flex Space Available Now

      5,050 SF flex space with excellent access to highways.
      12600-12608 Interurban Ave S, Tukwila, WA 98168
      View Details
    • Contact for pricing
      13,550 SF

      SeaTac Warehouse with Expansion Potential

      13,550 SF warehouse near Sea-Tac Airport with expansion potential.
      1840-1844 S 144Th St, Seatac, WA 98168
      View Details
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    10818 Myers Way
    Seattle, WA 98168
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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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