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

    23263 Pacific S Hwy Seattle, WA 98198

    • Strip malls
    • 1,270 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Aug 06, 2024
    Value Estimations
    $185,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1885101
    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

    • Strip malls

    Property Details for 23263 Pacific S Hwy

    Year built
    1931
    Lot size
    0.36 lot acres
    Property size
    1,270 SF
    Zone code
    H-C
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    250060-0612
    APU
    2500600612

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $185,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $215,000
      AUTO REPAIR, GARAGE
      $165,000
      OFFICE BUILDING
      $155,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.297
    Latitude
    47.3922
    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
    $5,750
    $387,500
    $0.00
    $387,500
    -
    $387,500
    $0.00
    $387,500

    Comparable in this City

    • Value Estimation
      $205,000
      0.55 Acres

      23311 Pacific S Hwy

      SHOPPING CENTER, STRIP CENTER • 0.55 Acres
      23311 Pacific S Hwy, Seattle, WA 98198
      View Details
    • Value Estimation
      $205,000
      700 SF

      23261 Pacific S Hwy

      SHOPPING CENTER, STRIP CENTER • 700 SF
      23261 Pacific S Hwy, Seattle, WA 98198
      View Details
    • Value Estimation
      $210,000
      0.38 Acres

      23319 Pacific S Hwy

      SHOPPING CENTER, STRIP CENTER • 0.38 Acres
      23319 Pacific S Hwy, Seattle, WA 98198
      View Details
    • Value Estimation
      $385,000
      2.91 Acres

      23313 Pacific S Hwy

      SHOPPING CENTER, STRIP CENTER • 2.91 Acres
      23313 Pacific S Hwy, Seattle, WA 98198
      View Details
    • Value Estimation
      $195,000
      0.03 Acres

      23201 Pacific S Hwy

      SHOPPING CENTER, STRIP CENTER • 0.03 Acres
      23201 Pacific S Hwy, Seattle, WA 98198
      View Details
    • Value Estimation
      $555,000
      15,655 SF

      21815 Marine Vw S Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 15,655 SF
      21815 Marine Vw S Dr, Des Moines, WA 98198-6176
      View Details

    Similar Nearby for Sale

    • $2,000,000

      Des Moines Retail Investment Opportunity

      Retail property with long-term tenant and stable income stream.
      21624 Pacific Hwy, Des Moines, WA 98198
      View Details
    • $1,995,000
      46,609 SF

      Mixed-Use Development Opportunity

      Mixed-use development site with completed drawings for apartments and retail.
      22725 Pacific Hwy S, Des Moines, WA 98198
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    • $4,750,000

      Mixed-Use Development Opportunity Near Waterfront

      Two buildings on 2.34 acres near Des Moines waterfront.
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    • $1,450,000

      Des Moines Commercial Buildings For Sale

      Two commercial buildings for sale in Des Moines, Washington.
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    • Contact for pricing
      18 SF

      International Boulevard Flex/Retail Space

      Flexible retail/flex/assembly/shop/showroom space on International Boulevard.
      20812-20816 International Blvd, Seattle, WA 98198
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    • $6,950,000
      9,574 SF

      Waterfront Restaurant with Redevelopment Potential

      Waterfront restaurant with redevelopment potential in Des Moines, WA.
      28201 Redondo Beach Dr S, Des Moines, WA 98198
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    Similar Nearby for Lease

    • $42 SF/Yr
      56,741 SF

      Redondo Square Retail Spaces

      Des Moines retail center, multiple spaces available.
      27005 Pacific Hwy, Des Moines, WA 98198
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    • $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
    • $17 SF/Yr
      1,470 SF

      Des Moines Retail Space Available

      Retail space available for lease in Des Moines, Washington.
      23100 Pacific Hwy S, Des Moines, WA 98198
      View Details
    • $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
    • $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
    • $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
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    23263 Pacific S Hwy
    Seattle, 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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