Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    702 Lewis St Pasco, WA 99301-5540

    • Office Properties & Spaces
    • 2,845 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Mar 31, 2022
    $362,000
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0098509
    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

    • Showcase Specialties / Promotional Products Supplier
    • Costa Azul Travel / Travel Agency

    Property Details for 702 Lewis St

    Year built
    1968
    Lot size
    0.16 lot acres
    Property size
    2,845 SF
    Property type
    Office Properties & Spaces
    APN
    112044065
    APU
    112044065

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $285,000
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $284,000
      Market price range: $285k - $1.71M
      AI Estimate
      $177,000
      Market price range: $178k - $859k

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

    Location Insight

    • Map
    • Local Demand
    City
    Pasco
    County
    Franklin
    State
    Washington
    Longitude
    -119.096
    Latitude
    46.2293
    CBSA code
    28420
    CBSA name
    KENNEWICK-RICHLAND-PASCO, 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
    2021
    $1,633
    $79,500
    $189,500
    $269,000
    -
    $79,500
    $189,500
    $269,000

    Comparable in this City

    • Value Estimation
      $360,000
      924 SF

      1150 Klundt Rd

      OFFICE (GENERAL) • 924 SF
      1150 Klundt Rd, Pasco, WA 99301-9710
      View Details
    • Value Estimation
      $380,000
      10,010 SF

      3330 Travel Plz Way

      OFFICE (GENERAL) • 10,010 SF
      3330 Travel Plz Way, Pasco, WA 99301-9791
      View Details
    • Value Estimation by Request
      1,908 SF

      315 Ct St

      OFFICE (GENERAL) • 1,908 SF
      315 Ct St, Pasco, WA 99301-5361
      View Details
    • Value Estimation by Request
      2.45 Acres

      2911 20Th Ave

      Office Properties & Spaces • 2.45 Acres
      2911 20Th Ave, Pasco, WA 99301
      View Details
    • Value Estimation by Request
      20,166 SF

      1110 Osprey Pointe Blvd

      OFFICE (GENERAL) • 20,166 SF
      1110 Osprey Pointe Blvd, Pasco, WA 99301-5827
      View Details
    • Value Estimation
      $325,000
      7,440 SF

      1330 Kartchner St

      OFFICE (GENERAL) • 7,440 SF
      1330 Kartchner St, Pasco, WA 99301-7502
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.38 Acres

      Pasco Office For Sale

      Commercial office property available in Pasco, Washington.
      320 N 20Th Ave, Pasco, WA 99301
      View Details
    • Contact for pricing
      0.45 Acres

      Pasco Office For Sale

      Office property available for purchase in Pasco, Washington.
      2211 W Court St, Pasco, WA 99301
      View Details
    • $4,200,000
      0.81 Acres

      Pasco Office For Sale

      Office property available for purchase in Pasco, Washington.
      9425 Sandifur Pkwy, Pasco, WA 99301
      View Details
    • Contact for pricing
      2.20 Acres

      Pasco Office Opportunity

      Office property for sale in Pasco, Washington.
      6825 Burden Blvd, Pasco, WA 99301
      View Details
    • $1,125,000
      0.92 Acres

      Pasco Office For Sale

      Commercial office property available for purchase in Pasco, Washington.
      1620 Road 44 N, Pasco, WA 99301
      View Details
    • $2,875,000
      6,993 SF

      West Pasco Medical Office Building

      High-Cap Rate Medical Office in Pasco, WA
      6825 Burden Blvd, Pasco, WA 99301
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      5,806 SF

      Prime Pasco Executive Office Space

      1,600 SF Office, Excellent Location
      1320 4Th Ave, Pasco, WA 99301
      View Details
    • $28 SF/Yr
      1,512 SF

      Versatile Plaza on 20th Avenue

      Office, retail, or medical space with tenant improvement options.
      2911-2925 N 20Th Ave, Pasco, WA 99301
      View Details
    • $1.35 SF/Yr
      1,500 SF

      Flex Space in Columbia East

      New flex space with shop, warehouse, and office areas.
      2201 N Commercial Ave, Pasco, WA 99301
      View Details
    • $1,930 /Mo
      1,000 SF

      Turn-Key Office Space Available

      Commercial office space in a prime location, ready for occupancy.
      1915 Sun Willows Blvd, Pasco, WA 99301
      View Details
    • $24 SF/Yr
      2,797 SF

      Modern Office Space in Pasco

      Class A office space in Pasco's growing business district.
      2713 N 20Th Ave, Pasco, WA 99301
      View Details
    • $26 SF/Yr
      24,668 SF

      Pasco Plaza: Versatile Commercial Space

      Prime Pasco location suitable for office, retail, or medical use.
      2915 N 20Th Ave, Pasco, WA 99301
      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.
    702 Lewis St
    Pasco, WA 99301-5540
    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.