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

    2202 Rainier S Ave Seattle, WA 98144

    • Office buildings
    • 6,848 SF
    • 0.48 lot acres
    OFF-MARKET
    Value Estimations
    $1,715,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0696132
    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

    • Office buildings

    Property Details for 2202 Rainier S Ave

    Year built
    1964
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.48 lot acres
    Property size
    6,848 SF
    Zone code
    NC3-75 (M)
    Property type
    Office buildings
    APN
    159460-0030
    APU
    1594600030

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,135,000
      6.5%
      $1,975,000
      7%
      $1,830,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,420,000
      Current use
      AUTO REPAIR, GARAGE
      $2,815,000
      Change: +16% Conversion: Difficult
      RETAIL STORES
      $2,745,000
      Change: +13% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $2,430,000
      Change: +0% Conversion: Easy
      MEDICAL BUILDING
      $2,355,000
      Change: -3% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,025,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.301
    Latitude
    47.5834
    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
    $31,116
    $3,344,600
    $1,000
    $3,345,600
    -
    $3,344,600
    $1,000
    $3,345,600

    Comparable in this City

    • Value Estimation
      $3,165,000
      13,648 SF

      2529 Rainier S Ave

      OFFICE BUILDING • 13,648 SF
      2529 Rainier S Ave, Seattle, WA 98144
      View Details
    • Value Estimation
      $1,250,000
      6,132 SF

      3120 Rainier S Ave

      OFFICE BUILDING • 6,132 SF
      3120 Rainier S Ave, Seattle, WA 98144-6015
      View Details
    • Value Estimation
      $9,990,000
      62,220 SF

      1130 Rainier S Ave

      OFFICE BUILDING • 62,220 SF
      1130 Rainier S Ave, Seattle, WA 98144-2842
      View Details
    • Value Estimation
      $850,000
      3,264 SF

      1130 Rainier S Ave

      OFFICE BUILDING • 3,264 SF
      1130 Rainier S Ave, Seattle, WA 98144-2842
      View Details
    • Value Estimation
      $1,305,000
      7,283 SF

      1916 23rd S Ave

      OFFICE BUILDING • 7,283 SF
      1916 23rd S Ave, Seattle, WA 98144-4616
      View Details
    • Value Estimation
      $1,195,000
      5,860 SF

      611 20th S Ave

      OFFICE BUILDING • 5,860 SF
      611 20th S Ave, Seattle, WA 98144-2208
      View Details

    Similar Nearby for Sale

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      11,039 SF

      Rainier Avenue Office Building For Sale

      34,929 SF owner-user investment opportunity in Seattle, WA.
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    • $1,950,000

      Fully Leased Medical/Dental Building

      Fully leased medical/dental building with parking and development potential.
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      Historic Mixed-Use Building in Seattle

      Iconic Seattle building with retail, office, and parking.
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      View Details
    • $5,395,000
      12 SF

      Beacon Hill Renovated Apartment Building

      22-unit apartment building in Seattle's Beacon Hill neighborhood.
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      View Details
    • Contact for pricing
      29 SF

      Rainier Avenue R&D Building

      Class A high-tech facility in central Seattle.
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    • $3,600,000
      13,740 SF

      Magnolia Industrial Manufacturing Facility

      13,740 SF manufacturing facility with office/warehouse space for sale.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      17,340 SF

      Two-Story Office Space Available

      Two-story office space with convenient access to transportation.
      2300 26Th Ave S, Seattle, WA 98144
      View Details
    • $19 SF/Yr
      31,720 SF

      Pacific Tower Historic Office Quarters

      Historic office campus atop Beacon Hill in Seattle available for lease.
      1200 12Th Ave S, Seattle, WA 98144
      View Details
    • $19 SF/Yr
      31,720 SF

      Seattle Office Space: Historic Charm

      31,720 sq ft, Iconic Beacon Hill location.
      1200 12Th Ave, Seattle, WA 98144
      View Details
    • $22 SF/Yr
      8,826 SF

      Rainier Ave S Executive Office Suites

      Seattle Office/Retail Space: 3 Suites Available
      502 Rainier Ave, Seattle, WA 98144
      View Details
    • $1.65 SF/Yr
      13,365 SF

      Interbay Flex/Industrial/Office Building For Lease

      13,365 SF building in thriving Interbay submarket, Seattle.
      4237 24Th Ave W, Seattle, WA 98144
      View Details
    • $26 SF/Yr
      2,097 SF

      Office Space with Private Offices

      Office space featuring eight private offices, conference room, and reception.
      1225 S Weller St, Seattle, WA 98144
      View Details
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    Seattle, WA 98144
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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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