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

    15800 Redmond Way Redmond, WA 98052-3829

    • Grocery and convenience stores
    • 47,043 SF
    • 6.93 lot acres
    OFF-MARKET
    Value Estimations
    $12,985,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0677105
    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

    • QFC / Florist / Health Food Store
    • Coinme at Coinstar - Bitcoin Kiosk / Kiosk / Atm
    • Western Union / Money Transfer Service
    • Redbox / Movie Rental Kiosk / Dvd Store
    • QFC Money Services / Money Transfer Service / Money Order Service

    Property Details for 15800 Redmond Way

    Year built
    1966
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.93 lot acres
    Property size
    47,043 SF
    Zone code
    TR
    Property type
    Grocery and convenience stores
    APN
    719890-0080
    APU
    7198900080

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $14,025,000
      6.5%
      $12,945,000
      7%
      $12,020,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $18,455,000
      Current use
      AUTO REPAIR, GARAGE
      $21,595,000
      Change: +17% Conversion: Difficult
      MEDICAL BUILDING
      $18,580,000
      Change: +1% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $17,940,000
      Change: -3% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $16,310,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Redmond
    County
    King
    State
    Washington
    Longitude
    -122.129
    Latitude
    47.6755
    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
    $221,699
    $30,201,200
    $1,000
    $30,202,200
    -
    $30,201,200
    $1,000
    $30,202,200

    Comparable in this City

    • Value Estimation by Request
      1,008 SF

      16010 Redmond Way

      CONVENIENCE STORE • 1,008 SF
      16010 Redmond Way, Redmond, WA 98052-3827
      View Details
    • Value Estimation
      $14,215,000
      66,000 SF

      8817 161st NE Ave

      GROCERY, SUPERMARKET • 66,000 SF
      8817 161st NE Ave, Redmond, WA 98052
      View Details
    • Value Estimation by Request
      2,419 SF

      8009 164th NE Ave

      CONVENIENCE STORE (W/FUEL PUMP) • 2,419 SF
      8009 164th NE Ave, Redmond, WA 98052-3819
      View Details
    • Value Estimation
      $16,960,000
      105,670 SF

      14810 24th St

      GROCERY, SUPERMARKET • 105,670 SF
      14810 24th St, Redmond, WA 98052-5533
      View Details
    • Value Estimation by Request
      1,056 SF

      15815 Bear Crk Pkwy

      CONVENIENCE STORE • 1,056 SF
      15815 Bear Crk Pkwy, Redmond, WA 98052-4370
      View Details
    • Value Estimation by Request
      1,380 SF

      11520 Avondale NE Rd

      CONVENIENCE STORE • 1,380 SF
      11520 Avondale NE Rd, Redmond, WA 98052-2880
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      148,673 SF

      Redmond Retail Redevelopment Opportunity

      Large retail property in Redmond, WA, suitable for redevelopment.
      17667 NE 76Th St, Redmond, WA 98052
      View Details
    • $3,950,000
      5,800 SF

      Redmond Industrial/Retail/Automotive Building For Sale

      Stand-alone building in Marymoor, near future light rail station.
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      5,800 SF

      Redmond Industrial/Retail/Automotive Building For Sale

      Stand-alone building near future light rail station with flexible zoning.
      18080 68Th St, Redmond, WA 98052
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    • Contact for pricing
      7,095 SF

      Redmond Office Building Investment Opportunity

      95% occupied office building near downtown Redmond and upcoming light rail.
      16455 Northeast 85Th St, Redmond, WA 98052
      View Details
    • $6,000,000
      18,000 SF

      Redmond Development Site For Sale

      18,000 SF corner development site in the heart of Redmond.
      8520 164Th Ave NE, Redmond, WA 98052
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    • $4,750,000
      21,750 SF

      Redmond Land with Development Potential

      21,750 SF property in Downtown Redmond with development potential.
      16440 85Th St, Redmond, WA 98052
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    Similar Nearby for Lease

    • Contact for pricing
      1,019 SF

      Downtown Redmond Commercial Space For Rent

      Premier commercial space in the heart of Downtown Redmond.
      16615 Redmond Way NE, Redmond, WA 98052
      View Details
    • $40 SF/Yr
      1,716 SF

      Redmond Retail Space For Rent

      Prime retail or restaurant space available in downtown Redmond.
      15808 Bear Creek Pkwy, Redmond, WA 98052
      View Details
    • $1.80 SF/Yr
      4,970 SF

      Redmond Warehouse with Retail Frontage

      Warehouse space with retail frontage available for lease in Redmond.
      15203-15209 NE 95Th St, Redmond, WA 98052
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    • $30 SF/Yr
      49,432 SF

      Downtown Redmond Retail and Office

      Visible retail and professional office spaces in downtown Redmond.
      16150 NE 85Th St, Redmond, WA 98052
      View Details
    • Contact for pricing
      946 SF

      Redmond Way Retail Space

      New retail space in high-profile mixed-use project near Downtown Park.
      8020-8058 161St Ave NE, Redmond, WA 98052
      View Details
    • Contact for pricing
      2,535 SF

      Redmond Retail/Restaurant Space Available

      2,535 SF retail or restaurant space with mezzanine.
      16135 NE 85Th St, Redmond, WA 98052
      View Details
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    15800 Redmond Way
    Redmond, WA 98052-3829
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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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