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

    505 Strander Blvd Tukwila, WA 98188-2920

    • Warehouses
    • 16,136 SF
    • 1.07 lot acres
    OFF-MARKET
    Last Sale
    Jun 11, 2024
    $4,400,000
    Value Estimations
    $4,290,000
    Show details
    Cap Rate Potential
    4%
    Warehouses
    Location Intelligence
    Property ID
    US90-1049534
    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

    • Warehouses

    Property Details for 505 Strander Blvd

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.07 lot acres
    Property size
    16,136 SF
    Zone code
    TUC-TOD
    Property type
    Warehouses
    APN
    022320-0061
    APU
    223200061

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,400,000
      ML approach
      $4,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,955,000
      6.5%
      $2,730,000
      7%
      $2,535,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,172,000
      Market price range: $2.92M - $7.36M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $4,765,000
      Current use
      AUTO REPAIR, GARAGE
      $6,640,000
      Change: +39% Conversion: Easy
      RETAIL STORES
      $6,470,000
      Change: +36% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $5,725,000
      Change: +20% Conversion: Difficult
      OFFICE BUILDING
      $5,700,000
      Change: +20% Conversion: Difficult
      MEDICAL BUILDING
      $5,550,000
      Change: +16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Tukwila
    County
    King
    State
    Washington
    Longitude
    -122.249
    Latitude
    47.4554
    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
    2024
    $35,436
    $1,633,900
    $1,329,600
    $2,963,500
    -
    $1,633,900
    $1,329,600
    $2,963,500

    Comparable in this City

    • Value Estimation
      $900,000
      60,364 SF

      5920 180th St

      WAREHOUSE, STORAGE • 60,364 SF
      5920 180th St, Tukwila, WA 98188-3803
      View Details
    • Value Estimation
      $885,000
      75,000 SF

      5950 Southcenter Blvd

      MINI-WAREHOUSE, STORAGE • 75,000 SF
      5950 Southcenter Blvd, Tukwila, WA 98188-5718
      View Details
    • Value Estimation
      $530,000
      4,100 SF

      16219 Military S Rd

      MINI-WAREHOUSE, STORAGE • 4,100 SF
      16219 Military S Rd, Seatac, WA 98188-3053
      View Details
    • Value Estimation
      $570,000
      29,900 SF

      15660 Nelson Pl

      WAREHOUSE, STORAGE • 29,900 SF
      15660 Nelson Pl, Tukwila, WA 98188-5506
      View Details
    • Value Estimation by Request
      74,476 SF

      18296 Andover Park

      Distribution properties • 74,476 SF
      18296 Andover Park, Tukwila, WA 98188
      View Details
    • Value Estimation by Request

      Seattle Exchange @ Southcenter

      office and industrial spaces from 200-10,000 square feet
      601-699 Strander Blvd | Tukwila, WA 98188, Tukwila, WA 98188
      View Details

    Similar Nearby for Sale

    • $8,989,000
      26,674 SF

      Tukwila Freestanding Building For Sale

      26,674 SF building with office space and high ceilings.
      1226 Andover Park E, Tukwila, WA 98188
      View Details
    • Contact for pricing
      26,674 SF

      Tukwila Freestanding Building For Sale

      26,674 SF building with office space and high ceilings.
      1224 Andover Park E, Tukwila, WA 98188
      View Details
    • Contact for pricing
      3.00 Acres

      Tukwila Industrial Land - 3 Acres

      Prime Tukwila industrial land, lease or sale.
      18200 Andover Park, Tukwila, WA 98188
      View Details
    • Contact for pricing
      521 SF

      Tukwila Industrial and Office Spaces

      Centrally located industrial and office spaces with freeway access.
      601-699 Strander Blvd, Seattle, WA 98188
      View Details
    • $15,000,000

      Well-Located Storage Facility For Sale

      Storage facility with strong occupancy history, professionally managed.
      5950 Southcenter Blvd, Seattle, WA 98188
      View Details
    • $99,900
      648 SF

      New Singlewide in 55+ Community

      New 2-bedroom singlewide in SeaTac's Bow Lake 55+ community.
      18306 35Th Ave S, Seatac, WA 98188
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      9,374 SF

      Tukwila Flex Space For Sale/Lease

      9,374 SF Flex Space, High Visibility
      131 Andover Park, Tukwila, WA 98188
      View Details
    • Contact for pricing
      19,158 SF

      Tukwila Warehouse with Office Space

      Rail-served warehouse with office space available for sublease in Tukwila.
      1177 Andover Park W, Tukwila, WA 98188
      View Details
    • Contact for pricing
      120,094 SF

      Tukwila Warehouse Space Available

      Available warehouse space in Tukwila, Washington, totaling 120,094 square feet.
      510-550 Andover Park W, Tukwila, WA 98188
      View Details
    • Contact for pricing
      15,320 SF

      Tukwila Warehouse Space Available

      15,320 SF warehouse/industrial space for lease in Tukwila, WA.
      355 Treck Dr, Tukwila, WA 98188
      View Details
    • Contact for pricing
      60,137 SF

      Tukwila Warehouse with Storage Mezzanine

      60,137 SF warehouse with easy access to major routes.
      18200-18340 Andover Park W, Tukwila, WA 98188
      View Details
    • Contact for pricing
      18,874 SF

      Tukwila Warehouse Space Available

      18,874 SF warehouse space with I-5 access.
      720-790 Andover Park E, Tukwila, WA 98188
      View Details
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    505 Strander Blvd
    Tukwila, WA 98188-2920
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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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