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

    19320 Elderberry SW St Rochester, WA 98579-9249

    • Warehouses
    • 5,500 SF
    • 1.19 lot acres
    OFF-MARKET
    Last Sale
    Jun 17, 2024
    $650,000
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    8.3%
    Warehouses
    Location Intelligence
    Property ID
    US90-0774836
    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

    • Warehouses

    Property Details for 19320 Elderberry SW St

    Year built
    1979
    Construction
    WOOD FRAME
    Lot size
    1.19 lot acres
    Property size
    5,500 SF
    Property type
    Warehouses
    APN
    5570-04-00300
    APU
    55700400300

    Description

    This exceptional 5,500-square-foot warehouse, located at 19320 Elderberry St SW in Rochester, Washington, presents a significant opportunity for businesses seeking a single-tenant industrial space. Situated on a 1.19-acre lot in Thurston County, this property boasts a 16-foot ceiling height, providing ample vertical storage capacity. The building features five convenient drive-in doors, ensuring efficient loading and unloading operations. Power is supplied by a robust 3-phase system with two separate panels, offering flexibility and reliability. The entire 5,500 square feet is currently vacant, allowing for immediate occupancy and customization to suit specific operational needs. The property's location in Rochester, WA, zip code 98579, offers convenient access to major transportation routes, making it an attractive option for businesses requiring seamless logistics. This warehouse is perfect for a variety of industrial uses and presents a rare opportunity to secure a substantial, well-equipped space in a desirable location. The property is available for lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000
      ML approach
      $650,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $900,000
      6.5%
      $835,000
      7%
      $775,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $635,000
      Current use
      AUTO REPAIR, GARAGE
      $920,000
      Change: +46% Conversion: Easy
      RESTAURANT
      $780,000
      Change: +24% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $740,000
      Change: +17% Conversion: Easy
      RETAIL STORES
      $735,000
      Change: +16% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $705,000
      Change: +11% Conversion: Difficult
      OFFICE BUILDING
      $650,000
      Change: +3% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $515,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Thurston
    State
    Washington
    Longitude
    -123.011
    Latitude
    46.8068
    CBSA code
    36500
    CBSA name
    OLYMPIA, 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
    $4,720
    $251,100
    $209,300
    $460,400
    -
    $251,100
    $209,300
    $460,400

    Comparable in this City

    • Value Estimation
      $2,490,000
      28,248 SF

      6011 193rd SW Ave

      WAREHOUSE, STORAGE • 28,248 SF
      6011 193rd SW Ave, Rochester, WA 98579-9230
      View Details
    • Value Estimation by Request
      5,625 SF

      6348 196Th Ave

      Distribution properties • 5,625 SF
      6348 196Th Ave, Rochester, WA 98579
      View Details
    • Value Estimation by Request
      6.04 Acres

      Loganberry St

      Land • 6.04 Acres
      0 Loganberry St, Rochester, WA 98579
      View Details
    • Value Estimation
      $695,000
      9.77 Acres

      Rochester, WA 98579

      INDUSTRIAL (GENERAL) • 9.77 Acres
      Rochester, WA 98579
      View Details
    • Value Estimation by Request
      480 SF

      5845 193rd SW Ave

      INDUSTRIAL (GENERAL) • 480 SF
      5845 193rd SW Ave, Rochester, WA 98579-8763
      View Details
    • Value Estimation
      $540,000
      4,992 SF

      10500 173rd SW Ave

      LIGHT INDUSTRIAL • 4,992 SF
      10500 173rd SW Ave, Rochester, WA 98579
      View Details

    Similar Nearby for Sale

    • $750,000
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      6.04 Acres, I-5 Visibility, RRC Zoning
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    • $300,000

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      Cleared, level 9+ acre lot in Grand Mound/Rochester, ready to build.
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      10-acre land parcel ready for building your dream home.
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      Two 5-Acre Commercial Parcels

      Two 5-acre commercial parcels near Rochester, WA, for sale.
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      4.54 Acres, I-5 Corridor, $900,000
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    Similar Nearby for Lease

    • Contact for pricing

      Industrial Space Near I-5

      Light industrial space in opportunity zone, near I-5.
      6348 SW 196Th Ave, Rochester, WA 98579
      View Details
    • Contact for pricing
      460,000 SF

      Prime Land for Retail

      Retail opportunity in South Thurston County with excellent visibility.
      19635 Sargent Rd SW, Rochester, WA 98579
      View Details
    • Contact for pricing
      1,200 SF

      Rochester Industrial Land & Office

      4.5-acre lot, 1200 sq ft office, ready for business.
      6490 196th Ave SW Rochester, WA 98579, Rochester, WA 98579
      View Details
    • $5,500 /Mo

      Fenced Lot Near I-5

      Paved, fenced commercial lot with I-5 visibility for rent.
      5803 192Nd Ave Southwest, Rochester, WA 98579
      View Details
    • $1.80 SF/Yr
      558,874 SF

      Rochester Commercial Land Opportunity

      Prime I-5 Corridor Land Lease, 0.5-12.83 Acres
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      View Details
    • Contact for pricing
      196,000 SF

      Rochester Industrial Land - 4.5 Acres

      Prime Thurston County industrial land, ready for development.
      6490 196th Ave SW Rochester, WA 98579, Rochester, WA 98579
      View Details
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    19320 Elderberry SW St
    Rochester, WA 98579-9249
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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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