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    700 M St NE Auburn, WA 98002

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    700 M St NE Auburn, WA 98002

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    • Medical Office Space
    • 8,248 SF
    • 0.64 lot acres
    For Sale
    $3,990,000
    View Listing →
    Established Medical Eye Center For Sale
    $3,990,000
    8,396 SF

    Established Medical Eye Center

    Medical and surgical eye care center in Puget Sound.

    700 M St NE, Auburn, WA 98002
    View Listing
    Property ID
    US90-1368049
    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
    2.7%
    Medical Office Space
    Location Intelligence

    Current Use by Public Records

    • Evergreen Eye Center / Physician / Ophthalmologist
    • Robert A. Tester, M.D. / Ophthalmologist
    • Joshua Frenkel M.D. / Ophthalmologist
    • Bradley A. Frederickson, OD / Physician
    • BRICE R NICHOLSON / Ophthalmologist

    Property Details for 700 M St NE

    Year built
    1998
    Construction
    WOOD
    Lot size
    0.64 lot acres
    Property size
    8,248 SF
    Zone code
    C1
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    182105-9328
    APU
    1821059328

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,985,000
      ML approach
      $3,890,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,697,000
      Market price range: $1.87M - $4.70M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $3,260,000
      Current use
      INDUSTRIAL (GENERAL)
      $5,240,000
      Change: +61% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,335,000
      Change: +33% Conversion: Easy
      RESTAURANT
      $4,115,000
      Change: +26% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,860,000
      Change: -12% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,835,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    King
    State
    Washington
    Longitude
    -122.213
    Latitude
    47.3146
    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
    $34,526
    $360,900
    $2,635,400
    $2,996,300
    -
    $360,900
    $2,635,400
    $2,996,300

    Comparable in this City

    • Value Estimation
      $6,270,000
      25,014 SF

      2704 I NE St

      MEDICAL BUILDING • 25,014 SF
      2704 I NE St, Auburn, WA 98002-2411
      View Details
    • Value Estimation
      $2,100,000
      10,156 SF

      1314 8th NE St

      MEDICAL BUILDING • 10,156 SF
      1314 8th NE St, Auburn, WA 98002-4587
      View Details
    • Value Estimation
      $1,440,000
      7,256 SF

      1000 Auburn S Way

      MEDICAL BUILDING • 7,256 SF
      1000 Auburn S Way, Auburn, WA 98002-6132
      View Details
    • Value Estimation
      $7,435,000
      2,880 SF

      122 3rd NE St

      MEDICAL BUILDING • 2,880 SF
      122 3rd NE St, Auburn, WA 98002-4008
      View Details
    • Value Estimation
      $725,000
      5,286 SF

      921 Harvey NE Rd

      MEDICAL BUILDING • 5,286 SF
      921 Harvey NE Rd, Auburn, WA 98002-4294
      View Details
    • Value Estimation
      $2,970,000
      20,367 SF

      125 3rd NE St

      MEDICAL BUILDING • 20,367 SF
      125 3rd NE St, Auburn, WA 98002-4035
      View Details

    Similar Nearby for Sale

    • $3,990,000

      Established Medical Eye Center

      Medical and surgical eye care center in Puget Sound.
      700 M St NE, Auburn, WA 98002
      View Details
    • $1,150,000

      Contemporary Office Building in Auburn

      Modern office building with customizable layouts and excellent highway access.
      918 A St Se, Auburn, WA 98002
      View Details
    • $1,650,000

      Auburn Retail/Office Investment Opportunity

      Fully leased retail/office building with upside potential in Auburn, WA.
      2 Auburn Way N, Auburn, WA 98002
      View Details
    • Contact for pricing

      Warehouse/Distribution Facility with Office Space

      Warehouse/distribution facility with office space in Auburn, Washington.
      3104 C St NE, Auburn, WA 98002
      View Details
    • $1,650,000

      Auburn Retail/Office Investment Property

      10,900 SF fully leased retail/office building in Auburn, WA.
      2 Auburn Way N, Auburn, WA 98002
      View Details
    • Contact for pricing

      Auburn Warehouse/Distribution Sublease Opportunity

      Warehouse/distribution facility with office space available for sublease.
      3104 C St NE, Auburn, WA 98002
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,102 SF

      Medical Facility Available For Lease

      9,102 SF medical facility available for lease in Auburn, WA.
      101 2Nd St NE, Auburn, WA 98002
      View Details
    • Contact for pricing

      Office Space Near Auburn Hospital

      Office space for rent near Auburn Regional Medical Center.
      125 3Rd St NE, Auburn, WA 98002
      View Details
    • Contact for pricing
      1,600 SF

      Medical/Professional Office Space Available

      Medical/professional office space for lease with high-end finishes.
      205 10Th St NE, Auburn, WA 98002
      View Details
    • Contact for pricing

      Downtown Auburn Retail/Office Space

      Retail/office space in downtown Auburn, near amenities and services.
      329 E Main St, Auburn, WA 98002
      View Details
    • Contact for pricing
      4,073 SF

      Auburn Retail Office Center Space

      Retail office center space for rent in Auburn, Washington.
      701-721 M St NE, Auburn, WA 98002
      View Details
    • $15 SF/Yr
      1,598 SF

      Auburn Retail/Office Space Available

      1,598 SF retail or office space for lease.
      1200-1221 A St NE, Auburn, WA 98002
      View Details

    Property Visit Statistics

    • Visits by month
      12.5k
    • Visitors by month
      6.3k
    • Avg Time on site
      7 min
    View Listing
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    700 M St NE
    Auburn, WA 98002
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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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