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

    21804 Marine View Dr Des Moines, WA 98198

    • Commercial real estate
    • 2,156 SF
    • 0.17 lot acres
    For Lease
    View listing
    $36 SF/Yr
    Last Sale
    Aug 31, 2023
    $175,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0676434
    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

    • Commercial real estate

    Property Details for 21804 Marine View Dr

    Year built
    1998
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.17 lot acres
    Property size
    2,156 SF
    Zone code
    D-C
    Property type
    Commercial real estate
    APN
    200900-2200
    APU
    2009002200

    Description

    This exceptional property at 21804 Marine View Drive S, Suite A, offers a prime retail and/or office opportunity. The building, situated on a high-traffic location with 23,000 cars passing daily, boasts a total of 2,156 square feet across two suites. Suite A comprises 867 square feet, while Suite B offers 644 square feet. These suites can be leased individually or combined to create a contiguous space of 1,511 square feet, providing flexibility for various business needs. The minimum leasable space is 644 square feet. The building underwent renovations in 1989 and features ample parking with 15 spaces available. The property is zoned C and has an APN of 200900-2200. Currently, 1,511 square feet are vacant, presenting a unique chance for immediate occupancy. This is the first time this space has been available in over a decade, making it a rare and highly desirable opportunity. The property's prominent location on Marine View Drive, near S 218th, ensures excellent visibility and accessibility for your business. This is an ideal location for businesses seeking high visibility and convenient access for customers and employees.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    King
    State
    Washington
    Longitude
    -122.324
    Latitude
    47.407
    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
    $4,996
    $187,200
    $213,800
    $401,000
    -
    $187,200
    $213,800
    $401,000

    Comparable in this City

    • Value Estimation
      $6,525,000
      38,606 SF

      22325 Marine Vw S Dr

      COMMERCIAL (GENERAL) • 38,606 SF
      22325 Marine Vw S Dr, Des Moines, WA 98198-6833
      View Details
    • Value Estimation
      $1,795,000
      10,560 SF

      22509 Marine Vw S Dr

      COMMERCIAL (GENERAL) • 10,560 SF
      22509 Marine Vw S Dr, Seattle, WA 98198
      View Details
    • Value Estimation
      $1,585,000
      9,600 SF

      21903 Marine Vw S Dr

      COMMERCIAL (GENERAL) • 9,600 SF
      21903 Marine Vw S Dr, Des Moines, WA 98198-6159
      View Details
    • Value Estimation
      $780,000
      2,560 SF

      28200 9th S Ave

      COMMERCIAL (GENERAL) • 2,560 SF
      28200 9th S Ave, Des Moines, WA 98198-8259
      View Details
    • Value Estimation
      $2,175,000
      11,167 SF

      22021 7th S Ave

      COMMERCIAL (GENERAL) • 11,167 SF
      22021 7th S Ave, Des Moines, WA 98198-6218
      View Details
    • Value Estimation
      $1,030,000
      6,990 SF

      22341 Marine Vw S Dr

      COMMERCIAL (GENERAL) • 6,990 SF
      22341 Marine Vw S Dr, Des Moines, WA 98198-6886
      View Details

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      Industrial space with secured yard, suitable for various uses.
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      View Details
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    Des Moines, WA 98198
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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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