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

    708 Race St Port Angeles, WA 98362-6441

    • Medical offices
    • 1,233 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Feb 14, 2025
    $400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2796195
    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

    • Strait Occupational & Hand, P.S. / Physician
    • Farmers Insurance - Michael J Holliday Agency / Insurance Agency
    • Lynda Williamson, OTRL / Physician
    • Angeles Chiropractic Clinic / Alternative Medicine Practice
    • Lee A. Jacobson, DC / Alternative Medicine Practice

    Property Details for 708 Race St

    Year built
    1982
    Lot size
    0.32 lot acres
    Property size
    1,233 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    630017200003100
    APU
    630017200003100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Angeles
    County
    Clallam
    State
    Washington
    Longitude
    -123.424
    Latitude
    48.1077
    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
    $1,988
    $76,945
    $105,000
    $181,945
    -
    $76,945
    $105,000
    $181,945

    Comparable in this City

    • Value Estimation
      $775,000
      2,343 SF

      426 8th St

      MEDICAL BUILDING • 2,343 SF
      426 8th St, Port Angeles, WA 98362-6220
      View Details
    • Value Estimation by Request
      1,164 SF

      630 8th St

      MEDICAL BUILDING • 1,164 SF
      630 8th St, Port Angeles, WA 98362-6224
      View Details
    • Value Estimation by Request
      1,743 SF

      806 8th St

      MEDICAL BUILDING • 1,743 SF
      806 8th St, Port Angeles, WA 98362-6419
      View Details
    • Value Estimation by Request
      784 SF

      934 Caroline St

      MEDICAL BUILDING • 784 SF
      934 Caroline St, Port Angeles, WA 98362-3910
      View Details
    • Value Estimation
      $540,000
      2,648 SF

      430 Lauridsen Blvd

      MEDICAL BUILDING • 2,648 SF
      430 Lauridsen Blvd, Port Angeles, WA 98362-7978
      View Details
    • Value Estimation by Request

      228 Lauridsen Blvd

      MEDICAL BUILDING
      228 Lauridsen Blvd, Port Angeles, WA 98362-7821
      View Details

    Similar Nearby for Sale

    • $935,000
      5,347 SF

      Port Angeles Medical Office Condo

      Class A Medical Office Building, Vacant
      811 Georgiana St, Port Angeles, WA 98362
      View Details
    • $935,000
      5,367 SF

      Port Angeles Commercial Office Building

      Premier office building near Olympic Medical Center and retail shops.
      811 E Georgiana St, Port Angeles, WA 98362
      View Details
    • $799,950
      0.16 Acres

      Downtown Building with Harbor Views

      Commercial building with warehouse and parking in downtown Port Angeles.
      229 W 1St St, Port Angeles, WA 98362
      View Details
    • $282,000
      5.00 Acres

      Port Angeles Vacant Land

      5-acre vacant land in upscale rural neighborhood with strait views.
      Harrington Rd, Port Angeles, WA 98362
      View Details
    • Contact for pricing
      0.64 Acres

      Port Angeles Land with Creek View

      Residential land in Port Angeles with utilities and creek view.
      9999 Blk 186, Port Angeles, WA 98362
      View Details
    • $549,000
      15.33 Acres

      Port Angeles Residential Development Land

      Large residential land parcel suitable for development in Port Angeles.
      9999 E Greentree Ln, Port Angeles, WA 98362
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo
      1,980 SF

      Downtown Port Angeles Office/Retail Space

      Prime downtown Port Angeles office/retail space with ample parking.
      228 W 1St St, Port Angeles, WA 98362
      View Details
    • $1,000 /Mo
      400 SF

      Downtown Port Angeles Retail/Office Space

      400 SF commercial space in high-visibility downtown location.
      222 N Lincoln St, Port Angeles, WA 98362
      View Details
    • $1,250 /Mo
      750 SF

      Port Angeles Retail or Office

      Commercial space in downtown Port Angeles near Black Ball Ferry.
      222 N Lincoln St, Port Angeles, WA 98362
      View Details
    • $800 /Mo
      520 SF

      Downtown Port Angeles Retail/Office Space

      520 SF commercial space in high-visibility downtown Port Angeles building.
      222 N Lincoln St, Port Angeles, WA 98362
      View Details
    • $1,000 /Mo
      424 SF

      Downtown Port Angeles Retail/Office Space

      Commercial space in high-visibility HarborTowne building, downtown Port Angeles.
      222 N Lincoln St, Port Angeles, WA 98362
      View Details
    • $3,000 /Mo

      Commercial Warehouse Space For Lease

      3,000 sqft warehouse space available for lease.
      2450 W Highway 101, Port Angeles, WA 98362
      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.
    708 Race St
    Port Angeles, WA 98362-6441
    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.