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    1501 15th NW St Auburn, WA 98001-3507
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    Property profile & analytics

    1501 15th NW St Auburn, WA 98001-3507

    View on Map
    • Warehouses
    • 16,640 SF
    • 1.18 lot acres
    Off-Market
    Property ID
    US90-1746163
    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
    $1,680,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jet City Laser / Industrial Manufacturer / Production Facility
    • Crafted Wellness / Alternative Medicine Practice / Spa & Massage Center
    • Coastal Marketing Consultants / Advertising Agency / Marketing & Advertising
    • Rodda Paint Co. - Auburn / Hardware & Home Improvement / Building Supply
    • Essential Self / Crisis Center / Medical Clinic

    Property Details for 1501 15th NW St

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.18 lot acres
    Property size
    16,640 SF
    Zone code
    M1
    Property type
    Warehouses
    APN
    030351-0210
    APU
    303510210

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    King
    State
    Washington
    Longitude
    -122.253
    Latitude
    47.3228
    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
    $25,519
    $719,600
    $1,240,100
    $1,959,700
    -
    $719,600
    $1,240,100
    $1,959,700

    Comparable in this City

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      WAREHOUSE, STORAGE • 22,736 SF
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      $2,665,000
      26,664 SF

      701 6th NW St

      WAREHOUSE, STORAGE • 26,664 SF
      701 6th NW St, Auburn, WA 98001-3945
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    • Value Estimation
      $25,100,000
      205,443 SF

      701 15th SW St

      WAREHOUSE, STORAGE • 205,443 SF
      701 15th SW St, Auburn, WA 98001-6533
      View Details
    • Value Estimation
      $1,065,000
      10,300 SF

      1501 20th NW St

      WAREHOUSE, STORAGE • 10,300 SF
      1501 20th NW St, Auburn, WA 98001-3422
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    • Value Estimation
      $1,130,000
      10,602 SF

      1435 22nd NW St

      WAREHOUSE, STORAGE • 10,602 SF
      1435 22nd NW St, Auburn, WA 98001-3330
      View Details
    • Value Estimation
      $1,170,000
      11,692 SF

      706 2nd NW St

      WAREHOUSE, STORAGE • 11,692 SF
      706 2nd NW St, Auburn, WA 98001-5255
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,465 SF

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      Well-located truck lot with building space and highway access.
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    • $1,100,000
      0.39 Acres

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      Corner lot with high visibility and income-generating espresso stand.
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      Auburn Commercial Development Opportunity

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      1,360 SF

      Corner Lot on Military Road

      Prime Auburn corner lot with high visibility and income potential.
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      Corner Lot with Income Potential

      Auburn corner lot with high visibility and income potential.
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      Class-A Office Buildings For Sale

      Four Class-A office buildings totaling 250,000 SF.
      33810 Weyerhaeuser Way South, Federal Way, WA 98001
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    Similar Nearby for Lease

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      Auburn Warehouse Space Available

      Warehouse space for rent with highway access in Auburn.
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      60,027 SF

      Auburn Warehouse and Distribution Space

      60,027 SF warehouse with easy access to major routes.
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      11,609 SF

      Auburn Warehouse Space Available

      11,879 SF warehouse space for lease in Auburn, WA.
      1307 W Valley Hwy N, Auburn, WA 98001
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      Auburn Warehouse with Lab Space

      28,000 SF warehouse with lab space available for lease.
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      14,510 SF

      Auburn Warehouse with Mezzanine

      14,246 SF warehouse space with convenient highway access.
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    • Contact for pricing
      105,208 SF

      Auburn Warehouse with Highway Frontage

      105,208 SF warehouse with excellent West Valley Highway frontage.
      6620 S 287Th St, Auburn, WA 98001
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    Auburn, WA 98001-3507
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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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