Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    308 Orcas St Seattle, WA 98108-2443

    • Distribution centers
    • 9,670 SF
    • 0.22 lot acres
    OFF-MARKET
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0031235
    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

    • Northwest Shipping Room Supply / Packaging Supply Store
    • PackageIt / Mailing Service

    Property Details for 308 Orcas St

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.22 lot acres
    Property size
    9,670 SF
    Zone code
    IG2 U/85
    Property type
    Distribution centers
    APN
    172280-1375
    APU
    1722801375

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $316,000
      Market price range: $206k - $542k

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

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.33
    Latitude
    47.5521
    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
    $17,735
    $481,200
    $1,477,800
    $1,959,000
    -
    $481,200
    $1,477,800
    $1,959,000

    Comparable in this City

    • Value Estimation
      $470,000
      17,142 SF

      9369 8th S Ave

      DISTRIBUTION WAREHOUSE • 17,142 SF
      9369 8th S Ave, Seattle, WA 98108-4624
      View Details
    • Value Estimation
      $570,000
      33,388 SF

      5501 1st S Ave

      DISTRIBUTION WAREHOUSE • 33,388 SF
      5501 1st S Ave, Seattle, WA 98108-2402
      View Details
    • Value Estimation
      $905,000
      56,572 SF

      4101 Airport S Way

      DISTRIBUTION WAREHOUSE • 56,572 SF
      4101 Airport S Way, Seattle, WA 98108-5218
      View Details
    • Value Estimation
      $810,000
      123,061 SF

      651 Alaska St

      DISTRIBUTION WAREHOUSE • 123,061 SF
      651 Alaska St, Seattle, WA 98108-1728
      View Details
    • Value Estimation
      $660,000
      42,420 SF

      7777 7th S Ave

      DISTRIBUTION WAREHOUSE • 42,420 SF
      7777 7th S Ave, Seattle, WA 98108-4311
      View Details
    • Value Estimation
      $525,000
      43,380 SF

      4329 7th S Ave

      DISTRIBUTION WAREHOUSE • 43,380 SF
      4329 7th S Ave, Seattle, WA 98108-1705
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      55,700 SF

      Georgetown Office/Warehouse Space

      24,000 SF office/warehouse space in Seattle's Georgetown neighborhood.
      6001-6017 6Th Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing
      93,020 SF

      Georgetown Industrial Space For Sale

      29,753 SF industrial space in Georgetown, Seattle.
      549 S Dawson St, Seattle, WA 98108
      View Details
    • Contact for pricing
      12 SF

      Warehouse Space Near Boeing Field

      Warehouse space suitable for manufacturing, fabrication, or light distribution.
      6401 Carleton Ave S | Seattle, Seattle, WA 98108
      View Details
    • Contact for pricing
      65,562 SF

      Seattle Warehouse with Secured Parking

      Standalone warehouse building with fenced parking on 2.62 acres.
      5900 1St Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing
      129,625 SF

      Seattle Industrial Spaces for Lease

      Industrial spaces for lease in Seattle commercial park.
      715 S Michigan St, Seattle, WA 98108
      View Details
    • $3,100,000
      6,500 SF

      Georgetown Warehouse with Secure Yard

      6,500 SF warehouse with 1,500 SF office space.
      808 Fidalgo St, Seattle, WA 98108
      View Details

    Similar Nearby for Lease

    • $1.35 SF/Yr
      36,544 SF

      Georgetown Office/Warehouse Space Available

      Prime Seattle office/warehouse space available for lease now.
      600 S Brandon St, Seattle, WA 98108
      View Details
    • Contact for pricing
      18,124 SF

      Industrial Space Available For Lease

      18,124 SF industrial space with office and multiple doors.
      1521-1541 South 92Nd Pl, Seattle, WA 98108
      View Details
    • Contact for pricing
      16,257 SF

      Industrial Space Available For Lease

      16,257 SF industrial space with 2,686 SF office.
      6753-6795 E Marginal Way S, Seattle, WA 98108
      View Details
    • Contact for pricing
      12,240 SF

      Industrial Space with Fenced Yard

      12,240 SF industrial space with office and fenced yard.
      7501 2Nd Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing
      27,560 SF

      Seattle Warehouse Space For Rent

      27,560 SF warehouse with easy access to I-5 & I-90.
      4201 6Th Ave S, Seattle, WA 98108
      View Details
    • Contact for pricing
      37,203 SF

      Industrial Warehouse Building For Rent

      37,203 SF industrial warehouse with superior location and upgrades.
      7700 2Nd Ave S, Seattle, WA 98108
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    308 Orcas St
    Seattle, WA 98108-2443
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.