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

    22221 7th S Ave Des Moines, WA 98198-6223

    • Medical offices
    • 4,992 SF
    • 0.34 lot acres
    OFF-MARKET
    Last Sale
    Feb 16, 2024
    $1,900,000
    Value Estimations
    $1,900,000
    Show details
    Cap Rate Potential
    3.8%
    Medical offices
    Location Intelligence
    Property ID
    US90-0934052
    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

    • Osterhout Marvin J DDS / Dentist
    • Des Moines Orthodontic Center/ Sean Liu Orthodontics / Orthodontist
    • Dr. Peyton / Orthodontist
    • Old Town Insurance Group, LLC / Insurance Broker / Motorcycle Insurance Agency

    Property Details for 22221 7th S Ave

    Year built
    1999
    Construction
    WOOD
    Lot size
    0.34 lot acres
    Property size
    4,992 SF
    Zone code
    D-C
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    200900-4195
    APU
    2009004195

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,900,000
      ML approach
      $1,900,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,699,000
      Market price range: $898k - $2.33M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,715,000
      Current use
      COMMERCIAL (GENERAL)
      $2,525,000
      Change: +47% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,055,000
      Change: +20% Conversion: Difficult
      RETAIL STORES
      $2,000,000
      Change: +17% Conversion: Difficult
      OFFICE BUILDING
      $1,765,000
      Change: +3% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,475,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    King
    State
    Washington
    Longitude
    -122.326
    Latitude
    47.4026
    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
    $17,521
    $345,000
    $1,157,400
    $1,502,400
    -
    $345,000
    $1,157,400
    $1,502,400

    Comparable in this City

    • Value Estimation
      $2,595,000
      22,352 SF

      22004 Marine Vw S Dr

      MEDICAL BUILDING • 22,352 SF
      22004 Marine Vw S Dr, Seattle, WA 98198
      View Details
    • Value Estimation
      $3,555,000
      16,881 SF

      2781 242nd St

      MEDICAL BUILDING • 16,881 SF
      2781 242nd St, Des Moines, WA 98198-5166
      View Details
    • Value Estimation
      $720,000
      4,037 SF

      22625 Pacific S Hwy

      DENTAL BUILDING • 4,037 SF
      22625 Pacific S Hwy, Des Moines, WA 98198-5110
      View Details
    • Value Estimation
      $885,000
      5,581 SF

      21904 Marine Vw S Dr

      DENTAL BUILDING • 5,581 SF
      21904 Marine Vw S Dr, Des Moines, WA 98198-6103
      View Details
    • Value Estimation
      $4,840,000
      34,270 SF

      26401 Pacific S Hwy

      MEDICAL BUILDING • 34,270 SF
      26401 Pacific S Hwy, Des Moines, WA 98198-9247
      View Details
    • Value Estimation
      $1,915,000
      14,658 SF

      22613 Pacific S Hwy

      MEDICAL BUILDING • 14,658 SF
      22613 Pacific S Hwy, Des Moines, WA 98198-5110
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,573 SF

      Class A Office Suites Available

      Prime SeaTac location with nearby retail and transportation.
      21400 International Blvd, Seatac, WA 98198
      View Details
    • $2,500,000

      New Office Building with Views

      Top quality office building with incredible Puget Sound views.
      22608 Marine View Dr, Des Moines, WA 98198
      View Details
    • $2,900,000
      124,582 SF

      Prime Development Land For Sale

      Three acres of level land with extensive street frontage.
      26505 Pacific Hwy S, Des Moines, WA 98198
      View Details
    • Contact for pricing
      18 SF

      Industrial Space with Secured Yard

      Industrial space with fenced yard, suitable for assembly or distribution.
      20820 International Blvd, Seattle, WA 98198
      View Details
    • $1,100,000

      Des Moines Multifamily Investment Opportunity

      6-unit apartment building near future light rail station.
      22707 30Th Ave S, Seattle, WA 98198
      View Details
    • Contact for pricing

      Development Site Near Light Rail

      Opportunity Zone development site near transit and airport.
      21010 International Blvd, Seatac, WA 98198
      View Details

    Similar Nearby for Lease

    • $36 SF/Yr
      2,156 SF

      Marine View Drive Retail Space

      High-traffic retail/office suites available.
      21804 Marine View Dr, Des Moines, WA 98198
      View Details
    • $36 SF/Yr
      1,509 SF

      High-Traffic Office/Retail Space Available

      Office/retail space for lease on high-traffic Marine View Drive.
      21804 Marine View Dr S, Des Moines, WA 98198
      View Details
    • $42 SF/Yr
      3,282 SF

      Turnkey Office Space Near Marina

      Professional office suite in walkable marina-front district with parking.
      612 S 227Th St, Des Moines, WA 98198
      View Details
    • $22 SF/Yr
      1,065 SF

      New Mixed-Use Development Retail Space

      Commercial spaces available in a new mixed-use development.
      21800 Pacific Hwy S, Des Moines, WA 98198
      View Details
    • $22 SF/Yr
      8,057 SF

      Waterfront-Adjacent Professional Office Space

      Professional office space with ocean views in Des Moines.
      22007 Marine View Dr S, Des Moines, WA 98198
      View Details
    • Contact for pricing
      11,625 SF

      SeaTac Warehouse with Yard

      11,625 SF warehouse with fenced yard, available now.
      2333 South 200Th St, Seattle, WA 98198
      View Details
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    22221 7th S Ave
    Des Moines, WA 98198-6223
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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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