Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12462 1st S Ave Burien, WA 98168-2615

    • Commercial land
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Sep 15, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1795913
    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

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 12462 1st S Ave

    Lot size
    0.17 lot acres
    Zone code
    CN
    Property type
    Commercial land
    APN
    144680-0315
    APU
    1446800315

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Burien
    County
    King
    State
    Washington
    Longitude
    -122.333
    Latitude
    47.4906
    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
    $4,829
    $127,600
    $0.00
    $127,600
    -
    $127,600
    $0.00
    $127,600

    Comparable in this City

    • Value Estimation by Request
      0.18 Acres

      14005 Interurban S Ave

      VACANT COMMERCIAL LAND • 0.18 Acres
      14005 Interurban S Ave, Seattle, WA 98168-4722
      View Details
    • Value Estimation by Request
      0.16 Acres

      12629 34th S Ave

      VACANT COMMERCIAL LAND • 0.16 Acres
      12629 34th S Ave, Tukwila, WA 98168-2501
      View Details
    • Value Estimation by Request
      0.14 Acres

      13258 1st S Ave

      VACANT COMMERCIAL LAND • 0.14 Acres
      13258 1st S Ave, Burien, WA 98168-2688
      View Details
    • Value Estimation by Request
      2.43 Acres

      Seattle, WA 98168

      VACANT COMMERCIAL LAND • 2.43 Acres
      Seattle, WA 98168
      View Details
    • Value Estimation
      $515,000
      0.91 Acres

      Seattle, WA 98168

      VACANT COMMERCIAL LAND • 1,590 SF
      Seattle, WA 98168
      View Details
    • Value Estimation
      $605,000
      0.18 Acres

      11625 Des Moines Memorial S Dr

      VACANT COMMERCIAL LAND • 0.18 Acres
      11625 Des Moines Memorial S Dr, Burien, WA 98168-1227
      View Details

    Similar Nearby for Sale

    • $325,000

      Development Land in Burien, WA

      Vacant land parcel with development potential in a growing area.
      13240 12Th Ave, 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
    • $299,000

      Tukwila Land Near Amenities

      Shy acre lot in Tukwila near I-5 and Southcenter Mall.
      4 S 150Th St, Seattle, WA 98168
      View Details
    • $695,000
      1,152 SF

      SeaTac Investment Opportunity For Sale

      1,152 SF facility in SeaTac, offering versatile development possibilities.
      14463 Military Rd S, Seattle, WA 98168
      View Details
    • $169,000

      Residential Lot with Woods

      Secluded 3/4 acre lot near city amenities.
      13501 42Nd Ave, 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

    Similar Nearby for Lease

    • $0.50 SF/Yr
      116,557 SF

      Tukwila Land Parcel For Rent

      2.68 acre Tukwila land parcel available for rent.
      10215 E Marginal Way S, Seattle, WA 98168
      View Details
    • Contact for pricing
      7,948 SF

      Dahlgren Office Building: Tukwila, WA

      7,948 SF Office Space - Prime Location
      13975 Interurban Avenue South | Tukwila, WA 98168, Tukwila, WA 98168
      View Details
    • Contact for pricing

      Modern Office Spaces in Tukwila

      Prime office spaces with flexible layouts and convenient transportation access.
      12620 Interurban Ave South, Tukwila, WA 98168
      View Details
    • $25 SF/Yr
      1,597 SF

      Tukwila Office Space Available

      Office space for rent in Tukwila, Washington.
      14240 Interurban Ave S, Tukwila, WA 98168
      View Details
    • Contact for pricing

      Versatile Space in Tukwila, WA

      Spacious, well-maintained property ideal for industrial, manufacturing, or distribution.
      12501 E Marginal Way 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
    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.
    12462 1st S Ave
    Burien, WA 98168-2615
    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.