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    19119 16Th Ave S Seattle, WA 98177
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    19119 16Th Ave S Seattle, WA 98177

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    • Office buildings
    • 27,794 SF
    • 1.50 lot acres
    For Lease
    View Listing →
    19119 16th Ave S, Seattle, WA For Lease
    Contact for pricing

    19119 16th Ave S, Seattle, WA

    Office property available for purchase in Seattle, Washington.

    19119 16Th Ave S, Seattle, WA 98177
    View Listing
    Property ID
    US90-0799293
    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

    • 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 19119 16Th Ave S

    Year built
    1982
    Construction
    WOOD
    Lot size
    1.50 lot acres
    Property size
    27,794 SF
    Zone code
    I
    Property type
    Office buildings
    APN
    322304-9039
    APU
    3223049039

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $8,210,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Seatac
    County
    King
    State
    Washington
    Longitude
    -122.315
    Latitude
    47.4316
    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
    $50,756
    $914,700
    $3,707,000
    $4,621,700
    -
    $914,700
    $3,707,000
    $4,621,700

    Comparable in this City

    • Value Estimation
      $9,890,000
      46,055 SF

      19521 International Blvd

      OFFICE BUILDING • 46,055 SF
      19521 International Blvd, Seatac, WA 98188-5402
      View Details
    • Value Estimation by Request
      1,697 SF

      3211 154th St

      OFFICE BUILDING • 1,697 SF
      3211 154th St, Seatac, WA 98188-2137
      View Details
    • Value Estimation by Request
      1,120 SF

      3610 158th St

      OFFICE BUILDING • 1,120 SF
      3610 158th St, Tukwila, WA 98188-2666
      View Details
    • Value Estimation
      $2,360,000
      11,000 SF

      Seattle, WA 98188

      OFFICE BUILDING • 11,000 SF
      Seattle, WA 98188
      View Details
    • Value Estimation
      $2,280,000
      12,267 SF

      6510 Southcenter Blvd

      OFFICE BUILDING • 12,267 SF
      6510 Southcenter Blvd, Tukwila, WA 98188-2549
      View Details
    • Value Estimation
      $2,065,000
      15,000 SF

      6450 Southcenter Blvd

      OFFICE BUILDING • 15,000 SF
      6450 Southcenter Blvd, Tukwila, WA 98188-2552
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      22,222 SF

      Tukwila Office Building For Sale

      22,222 SqFt office building in Tukwila, Washington.
      6835 Fort Dent Way, Tukwila, WA 98188
      View Details
    • $5,890,000
      23,422 SF

      Tukwila Freestanding Retail/Office Building

      Three-story building suitable for retail, showroom, office, or live-work.
      16705 Southcenter Pkwy, Tukwila, WA 98188
      View Details
    • Contact for pricing

      Southcenter Office Building Suites

      Office suites available in convenient Southcenter location with easy access.
      320 Andover Park E, Tukwila, WA 98188
      View Details
    • Contact for pricing

      Flexible Use Development Site

      Development site near Southcenter Mall with access to I-5.
      444 Andover Park East, Tukwila, WA 98188
      View Details
    • $5,043,375
      22,415 SF

      Tukwila Office Building For Sale

      Office building with 22,415 square feet of space in Tukwila.
      655 Andover Park W, Tukwila, WA 98188
      View Details
    • $2,768,500
      11,070 SF

      Tukwila Office Building For Sale

      Office building with 10,358 square feet of space in Tukwila.
      565 Andover Park West, Tukwila, WA 98188
      View Details

    Similar Nearby for Lease

    • $1,636 /Mo
      1,309 SF

      19530 International Blvd S, SeaTac, WA 98188

      Office buildings • 1,309 SF
      19530 International Blvd S, Seatac, WA 98188
      View Details
    • Contact for pricing

      Two-Story Office Building Available

      Two-story office building with flexible spaces and ample parking.
      19530 International Blvd, Seatac, WA 98188
      View Details
    • $29 SF/Yr

      Southcenter Office Campus For Rent

      Premier office campus in Southcenter with on-site amenities.
      555 Andover Park W, Tukwila, WA 98188
      View Details
    • $15 SF/Yr
      12,100 SF

      Shores I Office Building, Seatac

      Prime Seatac Office Space, Ample Parking
      19530 International Boulevard | Seatac, WA 98188, Seatac, WA 98188
      View Details
    • Contact for pricing
      2,421 SF

      Tukwila Office Space Available

      Office space available for lease in Tukwila, Washington.
      16400 Southcenter Pkwy, Tukwila, WA 98188
      View Details
    • $4,644 /Mo
      1,889 SF

      Tukwila Office Space Available

      Market-ready office space in Southcenter with planned improvements.
      635 Andover Park W, Tukwila, WA 98188
      View Details
    View Listing
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    19119 16Th Ave S
    Seattle, WA 98177
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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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