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    534 N 5Th Ave Sequim, WA 98382
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    534 N 5Th Ave Sequim, WA 98382

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    • Office Spaces
    • 1,228 SF
    For Sale
    $295,000
    View Listing →
    Sequim Office Space For Sale For Sale
    $295,000
    1,228 SF

    Sequim Office Space For Sale

    Prime office space in Sequim's 5th Avenue Professional Plaza.

    534 N 5th Ave, Sequim, WA 98382
    View Listing
    Property ID
    US90-2865550
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 534 N 5Th Ave

    Year built
    2007
    Property size
    1,228 SF
    Property type
    Office Spaces
    APN
    330196500603070
    APU
    330196500603070

    Description

    This exceptional 1,228-square-foot office space is located at 534 N 5th Ave, Unit 7, Sequim, WA 98382, within the 5th Avenue Professional Plaza. Built in 2007, this single-tenant space is situated in a vibrant Lifestyle District zoning area and offers a blend of functionality and convenience. The property features a shared lobby and bathrooms, multiple individual offices, a dedicated storage room, and a comfortable employee lounge complete with a sink and dishwasher. High-speed internet access is readily available. Ample parking is provided for tenants and clients, and the building allows for exterior signage. The two-story building is served by Clallam County PUD power and includes elevators. The property's location on a highly trafficked road ensures excellent visibility and accessibility. Its proximity to Olympic Medical Center (OMC) and Jamestown medical facilities makes it particularly attractive for medical practices. The property's APN is 0330196500603070. Cross street is Fir St. This versatile space is perfect for a variety of professional uses, offering a combination of modern amenities and a strategic location in the heart of Sequim.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sequim
    County
    Clallam
    State
    Washington
    Longitude
    -123.112
    Latitude
    48.0839
    CBSA code
    38820
    CBSA name
    PORT ANGELES, WA MICROPOLITAN 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
    2023
    $1,832
    $15,964
    $218,000
    $233,964
    -
    $15,964
    $218,000
    $233,964

    Comparable in this City

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      $900,000
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      305 Sequim Ave

      OFFICE (GENERAL) • 3,104 SF
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    • Value Estimation
      $2,050,000
      712 SF

      5th Ave

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    • Value Estimation by Request
      1,078 SF

      261043 Hwy 101

      OFFICE (GENERAL) • 1,078 SF
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      120 Maple St

      OFFICE (GENERAL) • 1,463 SF
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      4,368 SF

      495 Spruce St

      OFFICE (GENERAL) • 4,368 SF
      495 Spruce St, Sequim, WA 98382-3373
      View Details
    • Value Estimation by Request
      1,800 SF

      720 Washington St

      OFFICE (GENERAL) • 1,800 SF
      720 Washington St, Sequim, WA 98382-4744
      View Details

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    Similar Nearby for Lease

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      Sequim Commercial Office Space Available

      Commercial office space with great exposure in Sequim, Washington.
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    • $1,100 /Mo
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      Sequim Office Space For Rent

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      Sequim Commercial Space For Rent

      Commercial space with great exposure and mountain views in Sequim.
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    • $1,850 /Mo
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      Sequim Office Space For Rent

      Professional office space available in Sequim, WA.
      534 N 5Th Ave, Sequim, WA 98382
      View Details
    • Contact for pricing

      Retail/Restaurant Space for Lease

      Retail and restaurant spaces available for lease.
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      View Details
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    Sequim, WA 98382
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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.

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