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    Property profile & analytics

    154 153 St Burien, WA 98166

    • Retail space
    • 7,000 SF
    • 0.17 lot acres
    For Lease
    View listing
    $24 SF/Yr
    Last Sale
    Mar 05, 2021
    $825,000
    Value Estimations
    $800,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0757878
    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

    • Retail space

    Property Details for 154 153 St

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.17 lot acres
    Property size
    7,000 SF
    Zone code
    DC
    Property type
    Retail space
    APN
    122100-0215
    APU
    1221000215

    Description

    Burien Lofts, located at 154 SW 153rd St, Burien, WA, presents a unique investment opportunity. This 7,000 square foot building, situated on a 7,405 square foot lot, offers a blend of creative and traditional office spaces, along with retail options. The property, classified as Class C, was originally built in 1966 and underwent a complete renovation in 2024. This renovation included updated electrical and plumbing systems, as well as new bathrooms, flooring, lighting, and paint in the downstairs commercial units. The building comprises one structure with two stories and features three commercial units total: two on the ground floor and one upstairs. Two of these units are currently available, ranging in size from 1,619 to 3,035 square feet. The building's corner location on 153rd St ensures high visibility and ample parking. Its convenient location near Highway 509 and Sea-Tac Airport, in a rapidly developing area north of 153rd Street, adds significant appeal. The property is zoned DC and located in King County, with easy access via 2nd Ave SW. Note that square footage is an estimate. The landlord is seeking tenants who are committed to Burien's growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $760,000
      ML approach
      $760,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $918,000
      Market price range: $415k - $1.88M

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.336
    Latitude
    47.4662
    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
    $10,438
    $195,000
    $677,800
    $872,800
    -
    $195,000
    $677,800
    $872,800

    Comparable in this City

    • Value Estimation
      $500,000
      10,913 SF

      717 148th St

      RETAIL STORES (PERSONAL SERVICES) • 10,913 SF
      717 148th St, Burien, WA 98166-1982
      View Details
    • Value Estimation
      $365,000
      8,400 SF

      621 153rd St

      RETAIL STORES (PERSONAL SERVICES) • 8,400 SF
      621 153rd St, Seattle, WA 98166
      View Details
    • Value Estimation
      $640,000
      24,650 SF

      13601 Ambaum SW Blvd

      RETAIL STORES (PERSONAL SERVICES) • 24,650 SF
      13601 Ambaum SW Blvd, Seattle, WA 98166
      View Details
    • Value Estimation
      $255,000
      6,080 SF

      625 152nd St

      RETAIL STORES (PERSONAL SERVICES) • 6,080 SF
      625 152nd St, Burien, WA 98166-2212
      View Details
    • Value Estimation
      $375,000
      3,750 SF

      145 152nd St

      RETAIL STORES (PERSONAL SERVICES) • 3,750 SF
      145 152nd St, Burien, WA 98166-2305
      View Details
    • Value Estimation
      $365,000
      3,972 SF

      430 153rd St

      RETAIL STORES (PERSONAL SERVICES) • 3,972 SF
      430 153rd St, Burien, WA 98166-2215
      View Details

    Similar Nearby for Sale

    • $1,150,000

      Burien Stand Alone Building

      Stand alone building in Burien, suitable for office or retail.
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    • $1,600,000
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      Historic Mixed-Use Property in Burien

      Mixed-use property with investment potential in the heart of Olde Burien.
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      Leased Retail Building in Burien

      Fully leased 1,600 SF retail building with USPS anchor.
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    • $1,800,000

      Automotive Shop Building For Sale

      Automotive shop building for sale with upside potential.
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      Established Burien Consignment Shop

      Profitable business, loyal clientele, huge potential.
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      Land with Development Potential

      Land available with new infrastructure and public transportation access.
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    Similar Nearby for Lease

    • $28 SF/Yr
      960 SF

      Shoreline Retail Space For Rent

      Retail space available for lease in Shoreline, Washington.
      928 N 160Th St, Shoreline, WA 98166
      View Details
    • $24 SF/Yr
      7,000 SF

      Burien Lofts: Prime Commercial Space

      Renovated Burien office/retail, high visibility.
      154 153 St, Burien, WA 98166
      View Details
    • Contact for pricing
      797 SF

      Office Space Available for Rent

      Office space available for rent in Burien, Washington.
      16259 Sylvester Rd SW, Burien, WA 98166
      View Details
    • $2,000 /Mo
      825 SF

      Townhome with Modern Amenities

      Comfortable townhome with updated kitchen, in-unit laundry, and outdoor space.
      15824 9Th Ave SW, Seattle, WA 98166
      View Details
    • $35 SF/Yr
      1,546 SF

      Office Space Available For Rent

      Office space available for lease in Burien, Washington.
      16233 Sylvester Rd SW, Burien, WA 98166
      View Details
    • $20 SF/Yr
      6,996 SF

      Highline Medical Office Space For Lease

      Burien medical office suites available.
      16122 8 Ave, Burien, WA 98166
      View Details
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    Burien, WA 98166
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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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