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

    7203 129th SE Ave Newcastle, WA 98056-1412

    • Medical offices
    • 16,073 SF
    • 1.15 lot acres
    OFF-MARKET
    Value Estimations
    $3,385,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0836064
    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

    • Medical offices

    Property Details for 7203 129th SE Ave

    Year built
    2003
    Construction
    STEEL FRAME
    Lot size
    1.15 lot acres
    Property size
    16,073 SF
    Zone code
    DT
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    282405-9120
    APU
    2824059120

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $5,525,000
      Current use
      WAREHOUSE, STORAGE
      $4,750,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Newcastle
    County
    King
    State
    Washington
    Longitude
    -122.168
    Latitude
    47.538
    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
    $5,605
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $6,640,000
      46,072 SF

      1920 Bronson NE Way

      MEDICAL BUILDING • 46,072 SF
      1920 Bronson NE Way, Renton, WA 98056
      View Details
    • Value Estimation
      $540,000
      3,201 SF

      1124 Kirkland NE Ave

      MEDICAL BUILDING • 3,201 SF
      1124 Kirkland NE Ave, Renton, WA 98056
      View Details
    • Value Estimation
      $675,000
      5,325 SF

      3218 12th St

      MEDICAL BUILDING • 5,325 SF
      3218 12th St, Renton, WA 98056-3405
      View Details
    • Value Estimation
      $1,820,000
      8,631 SF

      3001 4th St

      MEDICAL BUILDING • 8,631 SF
      3001 4th St, Renton, WA 98056-4122
      View Details
    • Value Estimation
      $925,000
      6,704 SF

      1080 Kirkland NE Ave

      MEDICAL BUILDING • 6,704 SF
      1080 Kirkland NE Ave, Renton, WA 98056-3415
      View Details
    • Value Estimation by Request
      0.23 Acres

      1414 Monroe NE Ave

      HOMES (RETIRED, NURSING) • 0.23 Acres
      1414 Monroe NE Ave, Renton, WA 98056-3355
      View Details

    Similar Nearby for Sale

    • $3,350,000

      Renton Office Building For Sale

      Office building for sale in Renton, Washington.
      3800 NE 4Th St, Renton, WA 98056
      View Details
    • $1,350,000

      Waterfront Lot with Fixer Home

      Rare waterfront lot with fixer home on Lake Boren.
      13055 SE 76Th St, Newcastle, WA 98056
      View Details
    • $1,380,000

      Redevelopment Opportunity in Renton Highlands

      Three homes on a large lot with redevelopment potential.
      1409 Monroe Ave NE, Renton, WA 98056
      View Details
    • $4,925,000
      20,145 SF

      Updated Multifamily Asset in Renton

      22-unit multifamily property in Renton's Highland Park neighborhood.
      1177 Harrington Ave, Renton, WA 98056
      View Details
    • $3,150,000
      7,041 SF

      Fully Leased Retail Strip Center

      Multi-tenant retail strip center in Renton, Washington.
      3904 4Th St, Renton, WA 98056
      View Details
    • $2,495,000

      Newcastle Development Site Opportunity

      27,635 SF development site in Newcastle, Washington.
      12901 Newcastle Way, Newcastle, WA 98056
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      2,234 SF

      Former Gym Retail Space Available

      Open retail space in Renton, Washington, formerly a gym.
      3154-3200 NE Sunset Blvd, Renton, WA 98056
      View Details
    • Contact for pricing

      Renton Retail Space Available

      Retail space for rent in Renton, Washington.
      1107 Lake Washington Blvd North, Seattle, WA 98056
      View Details
    • $36 SF/Yr
      9,582 SF

      New Retail Space in Renton

      New construction retail space in mixed-use building, available Q4 2024.
      2950-2955 NE 11Th St, Renton, WA 98056
      View Details
    • $12 SF/Yr
      1 SF

      Renton Highlands Retail Space Available

      Former Joann store in Renton Highlands, adjacent to new apartments.
      2823 NE Sunset Blvd, Renton, WA 98056
      View Details
    • $25 SF/Yr
      1,576 SF

      Retail Space in Newport Hills

      Street-level retail space with high visibility and parking.
      12833 Newcastle Way, Newcastle, WA 98056
      View Details
    • $22 SF/Yr
      5,555 SF

      Renton Flex Space For Lease

      Industrial/Retail flex space in Renton with highway access.
      414 Monroe Ave NE, Renton, WA 98056
      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.
    7203 129th SE Ave
    Newcastle, WA 98056-1412
    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.