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    213 E Washington St Sequim, WA 98382
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    213 E Washington St, Sequim, WA 98382

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    • Grocery and convenience stores
    • 6,240 SF
    • 0.29 lot acres
    For Sale
    $895,000
    View Listing →
    Sequim Commercial Building For Sale For Sale
    $895,000
    6,240 SF

    Sequim Commercial Building For Sale

    Fully leased commercial building with long-term tenants in Sequim, WA.

    213 E Washington St, Sequim, WA 98382
    View Listing
    Property ID
    US90-2971161
    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

    • Grocery and convenience stores

    Property Details for 213 E Washington St

    Year built
    1940
    Lot size
    0.29 lot acres
    Property type
    Grocery and convenience stores
    APN
    330205301100000
    APU
    330205301100000

    Description

    This exceptional commercial property at 213 E Washington Street in Sequim, WA, presents a compelling investment opportunity. Located on Sequim's busiest street, this building enjoys high visibility and traffic, benefiting from its proximity to the US Post Office. The 975,000 USD property is currently fully leased to a diverse mix of established tenants, including Edward Jones Investments, La Petite Maison, Pedego Electric Bikes, and Beal Carpet and Drapes. The building offers a total of approximately 7,040 square feet of leasable space, distributed among the tenants as follows: La Petite Maison occupies 1200 square feet at a monthly rent of $16,500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $754,000
      Market price range: $754k - $3.45M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $875,000
      RETAIL STORES
      $805,000
      RESTAURANT
      $795,000
      INDUSTRIAL (GENERAL)
      $750,000
      APARTMENT HOUSE (5+ UNITS)
      $465,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Sequim
    County
    Clallam
    State
    Washington
    Longitude
    -123.1
    Latitude
    48.0794
    CBSA code
    38820
    CBSA name
    PORT ANGELES, WA MICROPOLITAN 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
    2023
    $2,563
    $137,500
    $190,000
    $327,500
    -
    $137,500
    $190,000
    $327,500

    Comparable in this City

    • Value Estimation
      $900,000
      1,558 SF

      822 Washington St

      CONVENIENCE STORE
      822 Washington St, Sequim, WA 98382-3520
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    • Value Estimation by Request
      2.76 Acres

      103 Taylor Cutoff Rd

      CONVENIENCE STORE
      103 Taylor Cutoff Rd, Sequim, WA 98382
      View Details
    • Value Estimation
      $820,000
      3,540 SF

      10200 Old Olympic Hwy

      GROCERY, SUPERMARKET
      10200 Old Olympic Hwy, Sequim, WA 98382-3180
      View Details
    • Value Estimation
      $6,145,000
      53,475 SF

      680 Washington St

      GROCERY, SUPERMARKET
      680 Washington St, Sequim, WA 98382-3264
      View Details
    • Value Estimation
      $545,000
      4,536 SF

      4661 Sequim Dungeness Way

      GROCERY, SUPERMARKET
      4661 Sequim Dungeness Way, Sequim, WA 98382-7834
      View Details
    • Value Estimation
      $3,210,000
      35,664 SF

      990 Washington St Bldg B

      GROCERY, SUPERMARKET
      990 Washington St Bldg B, Sequim, WA 98382-3517
      View Details

    Similar Nearby for Sale

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      Sequim Commercial Property with Updates

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      6,240 SF

      Sequim Retail Investment Opportunity

      Fully leased retail property with long-term tenants in prime location.
      213 E Washington St, Sequim, WA 98382
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    • Contact for pricing

      Retail Property in Sequim, WA

      Retail property available for sale in Sequim, Washington.
      1280 W Washington St, Sequim, WA 98382
      View Details
    • $394,000
      0.60 Acres

      Highway Commercial Land in Sequim

      0.58-acre commercial parcel zoned for a wide range of uses.
      999 Grant Rd, Sequim, WA 98382
      View Details
    • $895,000
      6,240 SF

      Sequim Commercial Building For Sale

      Fully leased commercial building with long-term tenants in Sequim, WA.
      213 E Washington St, Sequim, WA 98382
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,250 SF

      Retail Space in Sequim Center

      Grocery-anchored retail spaces available in Sequim, Washington.
      990 E Washington St, Sequim, WA 98382
      View Details
    • Contact for pricing

      Retail/Restaurant Space for Lease

      Retail and restaurant spaces available for lease.
      1250 W Washington St, Sequim, WA 98382
      View Details
    • Contact for pricing
      1,902 SF

      Restaurant End-Cap with Drive-Thru

      Second-generation restaurant space with drive-thru in Sequim, Washington.
      1250-1256 W Washington St, Sequim, WA 98382
      View Details
    • Contact for pricing

      Retail Pads in Sequim, WA

      Retail pads for lease, ground lease, or build to suit.
      190 North Priest Rd, Sequim, WA 98382
      View Details
    • $275 SF/Yr
      360 SF

      Sequim Commercial Space For Rent

      Commercial space with great exposure and mountain views in Sequim.
      502 S Still Rd, Sequim, WA 98382
      View Details
    View Listing
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    Sequim, WA 98382
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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.

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