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    2354 N 148Th St Shoreline, WA 98133
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    2354 N 148Th St Shoreline, WA 98133

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    • Commercial land
    For Sale
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    Transit-Oriented Development Land Opportunity For Sale
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    Transit-Oriented Development Land Opportunity

    Prime 3.78-acre TOD site near upcoming Shoreline South Station.

    2354 N 148th St, Shoreline, WA 98133
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    Property ID
    US90-3011397
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 2354 N 148Th St

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Properties are occupied. Do not disturb tenants. Shoreline South/148th St. Station: Zoned MUR-45 (Mixed-Use Residential to 45 feet high), this is a 20-parcel Transit-Oriented Development (TOD) site for sale. The total land area is 163,749 square feet (3.78 acres). The area is primed for redevelopment in tune with the highly anticipated Shoreline South/148th Station, which will open on 8/29/2024. A pedestrian overpass, currently under construction, will provide a short path to the transit platform. The site is adjacent to Twin Ponds Park, which has pickle/tennis courts, a playground, a picnic area, and a turf field. Many townhomes have been built in the area, with new apartment buildings coming online in 2024 and 2025. Located immediately north of the Seattle city limits, Shoreline has excellent economic opportunities to support population growth. Residents will connect to employment centers throughout King County via a robust transit network. Shoreline South to Seattle in 20 minutes. In 2025, riders can get to Bellevue in 40 minutes. For drivers, the I-5 on-ramp is located only a few blocks SE of the property for quick access to north or southbound lanes. The City of Shoreline is an enticing area for developers to build on assemblages of up-zoned parcels. It is next to Seattle yet a smaller municipality with an interest in growth and redevelopment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Shoreline
    County
    King
    State
    Washington
    Longitude
    -122.3292053
    Latitude
    47.7365614

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      Aurora Avenue Land Opportunity

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      Prime Mixed-Use Development Opportunity

      1.126-acre parcel zoned TC-3, ideal for mixed-use development.
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      Prime Land on Aurora Avenue

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      Greenwood Avenue Development Site

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      Aurora Avenue Development Opportunity

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    Similar Nearby for Lease

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      8,800 SF

      Retail and Warehouse Space Available

      8,800 SF retail/warehouse space in high-density area.
      15403-15507 Westminster Way N, Shoreline, WA 98133
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      3,172 SF

      Aurora Avenue Commercial Property For Rent

      Shop and office space available for rent on Aurora Avenue.
      12715 Aurora Ave North, Seattle, WA 98133
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      27,488 SF

      Warehouse with Office and Showroom

      Warehouse/office/showroom with 22' ceilings, dock and grade doors.
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      Second Story Office Space Available

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      Northgate Commercial Space For Rent

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      Shoreline Office Space For Lease

      Commercial space for lease with modern amenities and customizable floorplans.
      17544 Midvale Ave N, Shoreline, WA 98133
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    View Listing
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    2354 N 148Th St
    Shoreline, WA 98133
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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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