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

    402 Strander Blvd Tukwila, WA 98188-2919

    • Retail space
    • 44,616 SF
    • 1.71 lot acres
    OFF-MARKET
    Last Sale
    Nov 22, 2021
    $10,300,000
    Value Estimations
    $9,685,000
    Show details
    Cap Rate Potential
    7%
    Retail space
    Location Intelligence
    Property ID
    US90-0406778
    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

    • Retail space

    Property Details for 402 Strander Blvd

    Year built
    1966
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.71 lot acres
    Property size
    44,616 SF
    Zone code
    TUC-TOD
    Property type
    Retail space
    APN
    022320-0010
    APU
    223200010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,505,000
      ML approach
      $7,870,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,090,000
      6.5%
      $10,235,000
      7%
      $9,505,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $15,825,000
      OFFICE BUILDING
      $15,765,000
      MEDICAL BUILDING
      $15,340,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Tukwila
    County
    King
    State
    Washington
    Longitude
    -122.251
    Latitude
    47.4563
    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
    $82,561
    $3,015,900
    $4,294,600
    $7,310,500
    -
    $3,015,900
    $4,294,600
    $7,310,500

    Comparable in this City

    • Value Estimation
      $685,000
      130,245 SF

      Seattle, WA 98188

      RETAIL STORES (PERSONAL SERVICES) • 130,245 SF
      Seattle, WA 98188
      View Details
    • Value Estimation
      $330,000
      7,260 SF

      19039 International Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,260 SF
      19039 International Blvd, Seatac, WA 98188-5207
      View Details
    • Value Estimation
      $5,230,000
      25,380 SF

      290 Andover E Park

      RETAIL STORES (PERSONAL SERVICES) • 25,380 SF
      290 Andover E Park, Tukwila, WA 98188-2970
      View Details
    • Value Estimation
      $295,000
      2,848 SF

      15047 Military S Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,848 SF
      15047 Military S Rd, Seatac, WA 98188-2139
      View Details
    • Value Estimation
      $435,000
      9,712 SF

      7100 Fun Ctr Way

      RETAIL STORES (PERSONAL SERVICES) • 9,712 SF
      7100 Fun Ctr Way, Tukwila, WA 98188-5540
      View Details
    • Value Estimation
      $540,000
      34,714 SF

      17855 Southcenter Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 34,714 SF
      17855 Southcenter Pkwy, Tukwila, WA 98188-3725
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2 SF

      Retail Space in Parking Garage

      Retail space available within a 24-hour airport parking facility.
      18613 International Blvd, Seattle, WA 98188
      View Details
    • $5,600,000
      6,101 SF

      Southcenter Parkway Retail Opportunity

      Retail property with high visibility on Southcenter Parkway.
      16415-16425 Southcenter Pkwy, Tukwila, WA 98188
      View Details
    • $5,600,000
      6,101 SF

      Southcenter Parkway Retail Opportunity

      Retail property with high visibility on Southcenter Parkway.
      16415 Southcenter Pkwy, Tukwila, WA 98188
      View Details
    • $550,000

      Turn-Key Restaurant in Tukwila

      Established Restaurant, High Traffic Area
      1142024 Bizop Undisclosed, Tukwila, WA 98188
      View Details
    • $150,000

      Turnkey Dessert Shop in Tukwila Mall

      High-Traffic Location, Excellent Sales!
      11525 Bz Undisclosed, Tukwila, WA 98188
      View Details
    • $99,900
      648 SF

      New Singlewide in 55+ Community

      New 2-bedroom singlewide in SeaTac's Bow Lake 55+ community.
      3255 S 181St St, Seattle, WA 98188
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,055 SF

      Retail Space Near Southcenter Mall

      Retail space available across from Southcenter Mall in Tukwila, WA.
      505 Andover Park W, Tukwila, WA 98188
      View Details
    • Contact for pricing
      34,714 SF

      Retail Space Near Southcenter Mall

      Available retail space close to Westfield Southcenter Mall and I-5.
      17855 Southcenter Pkwy, Tukwila, WA 98188
      View Details
    • $25 SF/Yr
      25,560 SF

      Tukwila Showroom Sublease Opportunity

      High-end showroom sublease near I-5, I-405, and Highway 167.
      5951 South 180Th St, Seattle, WA 98188
      View Details
    • $25 SF/Yr
      14,392 SF

      Retail Space in Southcenter Parkway

      Flexible retail space in a high-traffic location.
      16875 Southcenter Pkwy, Tukwila, WA 98188
      View Details
    • $30 SF/Yr
      8,000 SF

      Prime Retail Space Southcenter Parkway

      High-visibility retail space in a vibrant shopping hub.
      16901 Southcenter Pkwy, Tukwila, WA 98188
      View Details
    • $32 SF/Yr
      2,635 SF

      Retail Space in Tukwila, WA

      2,635 SF retail space available for lease.
      7100 Fun Center Way, Tukwila, WA 98188
      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.
    402 Strander Blvd
    Tukwila, WA 98188-2919
    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.