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    Property profile & analytics

    22815 216th Way Maple Valley, WA 98038-8459

    • Office buildings
    • 2,204 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0106380
    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 22815 216th Way

    Year built
    1955
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property size
    2,204 SF
    Zone code
    NB
    Property type
    Office buildings
    APN
    102206-9036
    APU
    1022069036

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $830,000
      Current use
      RETAIL STORES
      $865,000
      Change: +4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Maple Valley
    County
    King
    State
    Washington
    Longitude
    -122.036
    Latitude
    47.4074
    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
    $400
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,760,000
      9,989 SF

      26837 Maple Vly Black Diamond SE Rd

      OFFICE BUILDING • 9,989 SF
      26837 Maple Vly Black Diamond SE Rd, Maple Valley, WA 98038-9917
      View Details
    • Value Estimation
      $2,880,000
      17,451 SF

      22017 Wax Rd

      OFFICE BUILDING • 17,451 SF
      22017 Wax Rd, Maple Valley, WA 98038-5525
      View Details
    • Value Estimation by Request
      2,654 SF

      Maple Valley, WA 98038

      OFFICE BUILDING • 2,654 SF
      Maple Valley, WA 98038
      View Details
    • Value Estimation by Request
      700 SF

      22807 216th Way

      OFFICE BUILDING • 700 SF
      22807 216th Way, Maple Valley, WA 98038-8459
      View Details
    • Value Estimation
      $775,000
      4,080 SF

      23660 Maple Vly Black Diamond SE Rd

      OFFICE BUILDING • 4,080 SF
      23660 Maple Vly Black Diamond SE Rd, Maple Valley, WA 98038
      View Details
    • Value Estimation
      $6,040,000
      1,935 SF

      22520 231st St

      OFFICE BUILDING • 1,935 SF
      22520 231st St, Maple Valley, WA 98038
      View Details

    Similar Nearby for Sale

    • $895,000

      Corner Lot Retail/Office Opportunity

      Retail/office space with detached shop/warehouse and fenced storage yard.
      22805 SE 216Th Way, Maple Valley, WA 98038
      View Details
    • $2,400,000
      8,320 SF

      Riverwood Plaza: Maple Valley Investment

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    • $895,000

      Retail/Office Space with Shop/Warehouse

      Retail/office space with detached shop/warehouse and fenced yard/parking.
      22805 SE 216Th Way, Maple Valley, WA 98038
      View Details
    • Contact for pricing
      2,400 SF

      Maple Valley Retail/Office/Industrial Building

      Multi-tenant retail, office, and industrial building with value-add potential.
      21505 Renton Maple Valley Rd SE, Maple Valley, WA 98038
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,255 SF

      Move-in Ready Office Space

      Office space featuring a mix of offices and open space.
      23175 224Th Pl SE, Maple Valley, WA 98038
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    • Contact for pricing
      3,250 SF

      Retail Space in Maple Valley

      Retail spaces available for lease in Maple Valley, WA.
      Maple Valley Black Diamond Rd SE, Maple Valley, WA 98038
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    • Contact for pricing
      15,209 SF

      Maple Valley Retail Space Available

      Retail space available for lease in Maple Valley, Washington.
      22117-22131 SE 237Th St, Maple Valley, WA 98038
      View Details
    • $0.18 SF/Yr

      Maple Valley Land for Lease

      Secured land near Highway 18, suitable for various uses.
      23056 Witte Rd SE, Maple Valley, WA 98038
      View Details
    • Contact for pricing
      2,395 SF

      Retail Space in Maple Valley

      Retail space available in a 12,312 SF building.
      26424 242Nd Ave SE, Maple Valley, WA 98038
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    • $38 SF/Yr
      908 SF

      Retail Space in Maple Valley

      Retail space available for lease in Maple Valley, Washington.
      26217 Maple Valley Black Diamond Rd SE, Maple Valley, WA 98038
      View Details
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    Maple Valley, WA 98038-8459
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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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