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    27005 Pacific S Hwy Des Moines, WA 98198-9250
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    Property profile & analytics

    27005 Pacific S Hwy, Des Moines, WA 98198-9250

    View on Map
    • Retail space
    • 91,026 SF
    • 11.14 lot acres
    Off-Market
    Property ID
    US90-1121816
    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
    $17,675,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 27005 Pacific S Hwy

    Year built
    1990
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    11.14 lot acres
    Zone code
    C-C
    Property type
    Retail space
    APN
    282204-9014
    APU
    2822049014

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 14, 2023 — Redondo Prime 1 LLC — Deed · related $19M · Aetna Life Insurance Co
    Nov 25, 2020 — Redondo Square Grf2 LLC — Deed · related —
    Mar 15, 2018 — Redondo Square Grf2 LLC — Grant Deed · related $200M · Wells Fargo Bk
    Jul 13, 2015 — Redondo Square Grf2 LLC Redondo Square Garp LLC Quit Claim Deed · related —
    May 15, 2014 $24,900,000 Redondo Square Garp LLC Pnw Redondo Square LLC Grant Deed —
    Nov 20, 2013 — Pnw Redondo Square LLC Joshua Green Corp Quit Claim Deed · related —
    Oct 31, 2012 — Pnw Redondo Square LLC Joshua Green Corp Quit Claim Deed · related —
    — — Northwestern Restaurants INC — Deed Of Trust · related —
    — — Redondo Square Grf2 LLC — Loan Modification · related —
    — — Northwestern Restaurants INC — Deed Of Trust · related —

    Description

    Redondo Square, located at 27005 Pacific Highway South in Des Moines, Washington 98198, offers exceptional retail opportunities in King County. This established shopping center boasts a total of 56,741 square feet, with multiple spaces currently available. Individual spaces range from a minimum of 1,400 square feet to a maximum contiguous space of 4,000 square feet, with a total of 8,900 square feet currently vacant. The property benefits from high visibility and convenient access from both Interstate 5 and Highway 99, ensuring significant foot traffic and exposure. Strong co-tenancy adds to the appeal, including established businesses such as Safeway, Bartell Drugs, and Planet Fitness, along with Banfield Pet Hospital and Taco Bell. This prime location presents a unique chance to establish or expand a retail presence in a thriving community. The property's strategic placement and impressive tenant mix make it an ideal investment for businesses seeking high visibility and a strong customer base. Interested parties should inquire about available space and lease terms. The property is categorized as an outparcel/pad, storefront, and shopping center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $22,620,000
      6.5%
      $20,880,000
      7%
      $19,390,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    King
    State
    Washington
    Longitude
    -122.311
    Latitude
    47.3591
    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
    $269,309
    $7,761,700
    $14,890,700
    $22,652,400
    -
    $7,761,700
    $14,890,700
    $22,652,400

    Comparable in this City

    • Value Estimation
      $1,510,000
      7,380 SF

      21050 International Blvd

      RETAIL STORES (PERSONAL SERVICES)
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      View Details
    • Value Estimation
      $1,220,000
      4,158 SF

      22862 Pacific S Hwy

      RETAIL STORES (PERSONAL SERVICES)
      22862 Pacific S Hwy, Des Moines, WA 98198-7262
      View Details
    • Value Estimation
      $1,980,000
      9,000 SF

      21105 International Blvd

      RETAIL STORES (PERSONAL SERVICES)
      21105 International Blvd, Seatac, WA 98198-6070
      View Details
    • Value Estimation by Request
      1,472 SF

      20848 International Blvd

      RETAIL STORES (PERSONAL SERVICES)
      20848 International Blvd, Seatac, WA 98198-5949
      View Details
    • Value Estimation
      $820,000
      5,402 SF

      22204 Marine Vw S Dr

      RETAIL STORES (PERSONAL SERVICES)
      22204 Marine Vw S Dr, Des Moines, WA 98198-6231
      View Details
    • Value Estimation by Request
      548 SF

      2501 Kent Des Moines Rd

      RETAIL STORES (PERSONAL SERVICES)
      2501 Kent Des Moines Rd, Des Moines, WA 98198-7105
      View Details

    Similar Nearby for Sale

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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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      Des Moines Commercial Buildings For Sale

      Two commercial buildings for sale in Des Moines, Washington.
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    • Contact for pricing
      4,533 SF

      International Boulevard Flex/Retail Space

      Flexible retail/flex/assembly/shop/showroom space on International Boulevard.
      20812-20816 International Blvd, Seatac, WA 98198
      View Details
    • Contact for pricing
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      Two Buildings in Des Moines

      Two buildings on 25,080 SF lot near Des Moines Marina.
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      Des Moines Commercial Buildings For Sale

      Two commercial buildings for sale in Des Moines, Washington.
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    Similar Nearby for Lease

    • Contact for pricing
      1,065 SF

      New Mixed-Use Development Retail Space

      Commercial spaces available in a new mixed-use development.
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      View Details
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      1,513 SF

      Prime Retail Frontage on Marine

      Retail space for rent in Des Moines, Washington.
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      View Details
    • Contact for pricing
      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
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    • Contact for pricing
      1,762 SF

      Des Moines Retail Space Available

      New commercial retail spaces in the heart of Des Moines.
      22525 7Th Ave S, Des Moines, WA 98198
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    • Contact for pricing
      575 SF

      Des Moines Office/Retail/Yard Space

      Office, retail, and yard space available in Des Moines.
      20710 1St Ave S, Des Moines, WA 98198
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    • Contact for pricing
      1,509 SF

      High-Traffic Office/Retail Space Available

      Office/retail space for lease on high-traffic Marine View Drive.
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      View Details
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    27005 Pacific S Hwy
    Des Moines, WA 98198-9250
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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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