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

    3021 Griffin Ave Enumclaw, WA 98022-2369

    • Medical offices
    • 21,640 SF
    • 2.42 lot acres
    OFF-MARKET
    Last Sale
    Nov 09, 2021
    $10,580,000
    Value Estimations
    $10,595,000
    Show details
    Cap Rate Potential
    2.5%
    Medical offices
    Location Intelligence
    Property ID
    US90-1718640
    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

    • Medical offices

    Property Details for 3021 Griffin Ave

    Year built
    1980
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.42 lot acres
    Property size
    21,640 SF
    Zone code
    GO
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    232006-9018
    APU
    2320069018

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $11,400,000
      ML approach
      $9,195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,222,000
      Market price range: $4.91M - $12.3M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $8,550,000
      Current use
      RESTAURANT
      $11,480,000
      Change: +34% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $11,030,000
      Change: +29% Conversion: Easy
      AUTO REPAIR, GARAGE
      $9,935,000
      Change: +16% Conversion: Difficult
      RETAIL STORES
      $8,490,000
      Change: -1% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $8,255,000
      Change: -3% Conversion: Difficult
      OFFICE BUILDING
      $8,160,000
      Change: -5% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $7,500,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Enumclaw
    County
    King
    State
    Washington
    Longitude
    -122.009
    Latitude
    47.2075
    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
    $64,269
    $1,053,000
    $6,023,000
    $7,076,000
    -
    $1,053,000
    $6,023,000
    $7,076,000

    Comparable in this City

    • Value Estimation
      $2,955,000
      13,292 SF

      2820 Griffin Ave

      MEDICAL BUILDING • 13,292 SF
      2820 Griffin Ave, Enumclaw, WA 98022-2373
      View Details
    • Value Estimation by Request
      950 SF

      860 Cole St

      MEDICAL BUILDING • 950 SF
      860 Cole St, Enumclaw, WA 98022-2549
      View Details
    • Value Estimation
      $3,495,000
      18,131 SF

      1427 Jefferson Ave

      MEDICAL BUILDING • 18,131 SF
      1427 Jefferson Ave, Enumclaw, WA 98022-3649
      View Details
    • Value Estimation
      $850,000
      6,653 SF

      2155 Farman N St

      MEDICAL BUILDING • 6,653 SF
      2155 Farman N St, Enumclaw, WA 98022-9260
      View Details
    • Value Estimation
      $535,000
      2,850 SF

      862 Cole St

      MEDICAL BUILDING • 2,850 SF
      862 Cole St, Enumclaw, WA 98022-2549
      View Details
    • Value Estimation
      $635,000
      3,648 SF

      1624 Pioneer St

      MEDICAL BUILDING • 3,648 SF
      1624 Pioneer St, Enumclaw, WA 98022-2299
      View Details

    Similar Nearby for Sale

    • $2,400,000
      6,500 SF

      Downtown Enumclaw Retail/Office/Restaurant Space

      Two buildings totaling 6,500 SF in downtown Enumclaw.
      1627 Cole St, Enumclaw, WA 98022
      View Details
    • $299,000

      5+ Acre Land Parcel

      Land with views, fencing, and livestock shelter for hobby farming.
      30210 SE 402Nd St, Enumclaw, WA 98022
      View Details
    • $799,950

      Downtown Enumclaw Work/Live Building Lot

      Prime downtown Enumclaw lot with work/live zoning.
      1107 Griffin Ave, Enumclaw, WA 98022
      View Details
    • $299,000

      Enumclaw Land with Mountain Views

      5+ acre parcel with mountain views, fenced, livestock shelter.
      30210 SE 402Nd St, Enumclaw, WA 98022
      View Details
    • $245,000

      Greenwater Land Parcel with Utilities

      Land parcel with water and electricity near Greenwater village.
      11101 Riverview Dr E, Enumclaw, WA 98022
      View Details
    • $400,000

      Charming Home on Acreage

      2-bedroom home on 1.19 acres with rental income potential.
      29317 SE 371St St, Enumclaw, WA 98022
      View Details

    Similar Nearby for Lease

    • $36 SF/Yr
      1,894 SF

      Enumclaw Retail Center Space Available

      Retail space available in primary Enumclaw shopping center.
      1009 Monroe Ave, Enumclaw, WA 98022
      View Details
    • Contact for pricing
      30,500 SF

      Enumclaw Retail Space Available

      30,500 SF retail space for lease in Enumclaw, WA.
      27925 SE 448Th St, Enumclaw, WA 98022
      View Details
    • Contact for pricing
      17,230 SF

      Enumclaw Land Build to Suit

      Prime land for build-to-suit in the heart of Enumclaw.
      1600-1899 Railroad St, Enumclaw, WA 98022
      View Details
    • $1.00 SF/Yr
      3,003 SF

      Enumclaw Industrial Space For Lease

      High-quality industrial space with modern office in Enumclaw, WA.
      702 Battersby Ave, Enumclaw, WA 98022
      View Details
    • $1,400 /Mo
      1,300 SF

      Enumclaw Storage and Garage Space

      Storage and garage space available for rent in Enumclaw, WA.
      2024 Farman St N, Enumclaw, WA 98022
      View Details
    • $12 SF/Yr
      64,317 SF

      Enumclaw Warehouse Space Available

      Industrial warehouse units, King County.
      2024 Farman St, Enumclaw, WA 98022
      View Details
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    3021 Griffin Ave
    Enumclaw, WA 98022-2369
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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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