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    128 E Main St Auburn, WA 98002
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    Property profile & analytics

    128 E Main St Auburn, WA 98002

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    • Investment properties
    • 53,802 SF
    • 0.28 lot acres
    For Lease
    $6,430,000
    View Listing →
    Retail Space in Auburn, WA For Lease
    $6,430,000
    787 SF

    Retail Space in Auburn, WA

    Retail space available for lease in Auburn, Washington.

    128 E Main St, Auburn, WA
    View Listing
    Property ID
    US90-0340398
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lincoln Apt / Apartment Building
    • Divine Court Apartments / Apartment Complex

    Property Details for 128 E Main St

    Year built
    1921
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.28 lot acres
    Property size
    53,802 SF
    Zone code
    DUC
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    733140-0055
    APU
    7331400055

    Description

    Divine Court, a vibrant retail center located at 128 E Main St, Auburn, WA 98002, presents an exceptional opportunity for businesses seeking prime retail space in King County. This 74,000 square foot multi-tenant property sits on 0.21 acres of land (APN 733140-0055) and currently has 3,900 square feet of vacant space available. The property offers flexible lease options with spaces ranging from 450 to 1,193 square feet, with a minimum divisible space of 787 square feet. This allows for a variety of business types and sizes to thrive within the center. Auburn, a thriving city of approximately 80,000 residents, boasts a blend of urban amenities and natural beauty, offering stunning views of Mount Rainier and a strong local customer base. Its convenient location in the Green River Valley, approximately 25 miles south of Seattle, provides excellent accessibility and visibility. This is an ideal location for businesses seeking high foot traffic and exposure in a dynamic and growing community. The property's strategic location and flexible space options make it an attractive investment for both established businesses and new ventures looking to establish a presence in the heart of Auburn. Contact us today to learn more about the available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,734,000
      Market price range: $8.73M - $47.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    King
    State
    Washington
    Longitude
    -122.228
    Latitude
    47.3072
    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
    2024
    $99,972
    $288,000
    $0.00
    $288,000
    -
    $288,000
    $0.00
    $288,000

    Comparable in this City

    • Value Estimation
      $1,465,000
      7,900 SF

      705 Auburn N Way

      OFFICE/RESIDENTIAL (MIXED USE) • 7,900 SF
      705 Auburn N Way, Auburn, WA 98002
      View Details
    • Value Estimation
      $535,000
      2,442 SF

      14 A SE St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,442 SF
      14 A SE St, Auburn, WA 98002
      View Details
    • Value Estimation
      $590,000
      2,720 SF

      5 G SE St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,720 SF
      5 G SE St, Auburn, WA 98002-5649
      View Details
    • Value Estimation
      $865,000
      5,844 SF

      709 F NE Pl

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,844 SF
      709 F NE Pl, Auburn, WA 98002-4377
      View Details
    • Value Estimation
      $615,000
      4,020 SF

      1014 37th SE St

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,020 SF
      1014 37th SE St, Auburn, WA 98002-8749
      View Details
    • Value Estimation by Request
      2,186 SF

      2219 D SE St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,186 SF
      2219 D SE St, Auburn, WA 98002-6883
      View Details

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      Auburn Retail/Office Space Available

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      View Details
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      Auburn Retail Office Center Space

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      View Details
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      View Details
    View Listing
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    Auburn, WA 98002
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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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