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

    1102 15Th St Auburn, WA 98001

    • Office buildings
    • 149,268 SF
    • 11.94 lot acres
    For Lease
    View listing
    $17 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1372679
    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

    • SemaConnect Charging Station / Electric Vehicle Charging Station
    • Zones, LLC / Corporate Office
    • Blink Charging Station / Electric Vehicle Charging Station
    • Auburn Discount Porta Potty Rental / Portable Toilet Supplier / Waste Management Service
    • Sunlight Supply Inc / Corporate Office

    Property Details for 1102 15Th St

    Year built
    1991
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    11.94 lot acres
    Property size
    149,268 SF
    Zone code
    C3
    Property type
    Office buildings
    APN
    030150-0120
    APU
    301500120

    Description

    This exceptional Auburn, WA office property, Auburn Corporate Center - Building I, offers 149,268 square feet of prime commercial space. Located at 1102 15th St SW, 98001, this Class B building, constructed in 1991, boasts a convenient location with immediate access to major highways (Hwy-18 and Hwy-167), and a short 5-minute drive to I-5. The property sits on 11.94 acres of land (APN: 030150-0120) and is zoned M1, Auburn. Currently, one large suite of 25,683 square feet is available for lease. The building features abundant natural light thanks to large windows throughout. Tenants enjoy the convenience of a metro transit stop directly in front of the building, ample free parking (5.0/1,000 PSF), and proximity to SeaTac Airport (15 minutes away). Its strategic location places it across the street from The Outlet Collection Seattle and within walking distance of various restaurants. The property also benefits from state-of-the-art telecommunication access, including on-site fiber. This multi-tenant building presents a fantastic opportunity for businesses seeking a well-located, amenity-rich office space in a thriving area. The property is suitable for both executive office and traditional office uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $22,482,000
      Market price range: $22.5M - $59.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    King
    State
    Washington
    Longitude
    -122.246
    Latitude
    47.2948
    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
    $229,125
    $6,763,900
    $12,476,100
    $19,240,000
    -
    $6,763,900
    $12,476,100
    $19,240,000

    Comparable in this City

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      View Details
    • Value Estimation
      $13,155,000
      71,704 SF

      33940 Weyerhaeuser S Way

      OFFICE BUILDING • 71,704 SF
      33940 Weyerhaeuser S Way, Federal Way, WA 98001-9663
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    • Value Estimation
      $4,850,000
      30,240 SF

      32129 Weyerhaeuser S Way

      OFFICE BUILDING • 30,240 SF
      32129 Weyerhaeuser S Way, Federal Way, WA 98001-9801
      View Details
    • Value Estimation by Request
      1,937 SF

      3820 320th St

      OFFICE BUILDING • 1,937 SF
      3820 320th St, Auburn, WA 98001-3115
      View Details
    • Value Estimation
      $2,925,000
      20,428 SF

      1519 Vly N Hwy

      OFFICE BUILDING • 20,428 SF
      1519 Vly N Hwy, Auburn, WA 98001-1600
      View Details
    • Value Estimation
      $1,680,000
      8,400 SF

      1650 Vly S Hwy

      OFFICE BUILDING • 8,400 SF
      1650 Vly S Hwy, Auburn, WA 98001-6504
      View Details

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      Downtown Auburn Office Sublease

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      Residential Land in Auburn, WA

      RM3600 zoned site suitable for up to 4 units.
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      2.31 Acres

      Auburn Industrial Land - 2.31 Acres

      Prime Auburn industrial land, M-1 zoning.
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    Similar Nearby for Lease

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      I-5 Tech Center Office Space

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    • $17 SF/Yr
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      Auburn Corporate Center Office Space

      Executive Suites & Office Space in Auburn, WA
      1102 15Th St, Auburn, WA 98001
      View Details
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      76,728 SF

      Auburn Warehouse/Distribution Facility Sublease

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    Auburn, WA 98001
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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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