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

    602 Main St Auburn, WA 98001-5225

    • Office buildings
    • 15,750 SF
    • 0.48 lot acres
    OFF-MARKET
    Value Estimations
    $355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3345627
    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

    • Public School Employees-Wash / Labor Union

    Property Details for 602 Main St

    Year built
    2002
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.48 lot acres
    Property size
    15,750 SF
    Zone code
    DUC
    Property type
    Office buildings
    APN
    391500-0105
    APU
    3915000105

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    King
    State
    Washington
    Longitude
    -122.237
    Latitude
    47.3074
    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
    $41,437
    $230,900
    $3,243,800
    $3,474,700
    -
    $230,900
    $3,243,800
    $3,474,700

    Comparable in this City

    • Value Estimation
      $685,000
      64,965 SF

      3450 344th Way

      OFFICE BUILDING • 64,965 SF
      3450 344th Way, Federal Way, WA 98001-9540
      View Details
    • Value Estimation
      $840,000
      71,704 SF

      33940 Weyerhaeuser S Way

      OFFICE BUILDING • 71,704 SF
      33940 Weyerhaeuser S Way, Federal Way, WA 98001-9663
      View Details
    • Value Estimation
      $5,075,000
      30,240 SF

      32129 Weyerhaeuser S Way

      OFFICE BUILDING • 30,240 SF
      32129 Weyerhaeuser S Way, Federal Way, WA 98001-9801
      View Details
    • Value Estimation
      $305,000
      1,937 SF

      3820 320th St

      OFFICE BUILDING • 1,937 SF
      3820 320th St, Auburn, WA 98001-3115
      View Details
    • Value Estimation
      $230,000
      6,050 SF

      2711 Vly N Hwy

      OFFICE BUILDING • 6,050 SF
      2711 Vly N Hwy, Auburn, WA 98001-1662
      View Details
    • Value Estimation
      $390,000
      1,100 SF

      34622 Vly S Hwy

      OFFICE BUILDING • 1,100 SF
      34622 Vly S Hwy, Auburn, WA 98001-4320
      View Details

    Similar Nearby for Sale

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      Class-A Office Buildings For Sale

      Four Class-A office buildings totaling 250,000 SF in Federal Way.
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    • $6,600,000
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      Industrial Warehouse Near SR-167

      Divisible industrial warehouse space available near SR-167 in Auburn, WA.
      1802 Pike St NW, Auburn, WA 98001
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    • $199,950

      Commercial Lot on Auburn Way

      Commercial lot in Auburn, water and sewer in street.
      223 3Rd St NE, Auburn, WA 98001
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    • $199,950
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      Residential Land in Auburn, WA

      RM3600 zoned site suitable for up to 4 units.
      32400 Military Rd S, Auburn, WA 98001
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    Similar Nearby for Lease

    • $20 SF/Yr
      47,800 SF

      New Office Building For Lease

      New office building with excellent access on the east side.
      32200 Weyerhaeuser Way S, Federal Way, WA 98001
      View Details
    • $18 SF/Yr
      105,807 SF

      Federal Way Class A Office

      Class A office building with I-5 access in Federal Way.
      32001 32Nd Ave S, Federal Way, WA 98001
      View Details
    • $17 SF/Yr
      149,268 SF

      Auburn Corporate Center Office Space

      Executive Suites & Office Space in Auburn, WA
      1102 15Th St, Auburn, WA 98001
      View Details
    • Contact for pricing
      76,728 SF

      Auburn Warehouse/Distribution Facility Sublease

      Warehouse/distribution facility with office space available for sublease in Auburn.
      3500 W Valley Hwy N, Auburn, WA 98001
      View Details
    • $1,395 /Mo
      800 SF

      Downtown Auburn Office Space Available

      800 SF office suite in downtown Auburn for lease.
      201 South Division St, Auburn, WA 98001
      View Details
    • $18 SF/Yr
      105,807 SF

      East Campus Corporate Park Office Space

      Prime Federal Way Office Suites Available
      32001 32Nd Ave, Federal Way, WA 98001
      View Details
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    602 Main St
    Auburn, WA 98001-5225
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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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