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    Property profile & analytics

    9805 224Th St E Graham, WA 98338

    • Strip malls
    • 6,943 SF
    • 0.83 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1264140
    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

    • Strip malls

    Property Details for 9805 224Th St E

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.83 lot acres
    Property size
    6,943 SF
    Zone code
    RAC
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    6022200010
    APU
    6022200010

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,155,000
      6.5%
      $1,070,000
      7%
      $990,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Graham
    County
    Pierce
    State
    Washington
    Longitude
    -122.3
    Latitude
    47.0535
    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
    2024
    $17,627
    $688,300
    $715,500
    $1,403,800
    -
    $688,300
    $715,500
    $1,403,800

    Comparable in this City

    • Value Estimation
      $1,375,000
      14,538 SF

      22205 Meridian E

      SHOPPING CENTER, STRIP CENTER • 14,538 SF
      22205 Meridian E, Graham, WA 98338-9781
      View Details
    • Value Estimation
      $1,020,000
      11,334 SF

      10220 196th St E Ct

      SHOPPING CENTER, STRIP CENTER • 11,334 SF
      10220 196th St E Ct, Graham, WA 98338-8473
      View Details
    • Value Estimation
      $1,010,000
      11,334 SF

      10221 198th E St

      SHOPPING CENTER, STRIP CENTER • 11,334 SF
      10221 198th E St, Graham, WA 98338-8038
      View Details
    • Value Estimation
      $1,010,000
      8,040 SF

      9909 224th E St

      SHOPPING CENTER, STRIP CENTER • 8,040 SF
      9909 224th E St, Graham, WA 98338-7086
      View Details
    • Value Estimation by Request
      418 SF

      5401 Waterfront Drb219

      VEHICLE SALES, RENTALS • 418 SF
      5401 Waterfront Drb219, Graham, WA 98338
      View Details
    • Value Estimation by Request
      1,836 SF

      9921 224th E St

      FINANCIAL BUILDING • 1,836 SF
      9921 224th E St, Graham, WA 98338-7074
      View Details

    Similar Nearby for Sale

    • $3,500,000
      17,471 SF

      Former Retail Space on Meridian

      High-traffic location, former Rite Aid available for sale.
      22201 Meridian Ave E, Graham, WA 98338
      View Details
    • $3,967,444

      8.28 Acres in Graham, WA

      8.28 acre parcel in a Rural Activity Center.
      23108 Meridian Ave E, Graham, WA 98338
      View Details
    • $1,012,300
      1.16 Acres

      Graham Commercial Land - Prime Location

      1.16 Acres, R-10 Zoning, High Traffic Area
      22006 Meridian Ave, Graham, WA 98338
      View Details
    • $1,995,000

      Corner Lot Development Opportunity

      248,292 sq. ft. corner lot near Pierce County Fair.
      10301 Eustis Hunt Rd E, Graham, WA 98338
      View Details
    • $399,500

      Graham Land For Sale

      Prime land with high traffic exposure and development potential.
      22010 Meridian Ave E, Graham, WA 98338
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,010 SF

      Retail Space in Graham, WA

      Retail space available for lease in Graham, Washington.
      9807-9915 224Th St E, Graham, WA 98338
      View Details
    • $2,329 /Mo
      1,215 SF

      Retail Space in Graham Center

      1,215 SF retail space ready for custom buildout.
      9805 224Th St E, Graham, WA 98338
      View Details
    • $2,126 /Mo
      1,215 SF

      Retail Space Near Graham Town

      Retail space in a growing area with heavy traffic.
      9805 224Th St E, Graham, WA 98338
      View Details
    • $2,400 /Mo
      1,200 SF

      Retail Space in High-Growth Area

      Retail space with high visibility and ample parking available for rent.
      9909 224Th St E, Graham, WA 98338
      View Details
    • $2,500 /Mo
      2,000 SF

      Retail/Office Space in Graham

      Flexible retail or office space with tenant improvement allowance.
      21110 Meridian Ave E, Graham, WA 98338
      View Details
    • Contact for pricing
      1,215 SF

      Retail Space in Graham Center

      1,215 SF retail space in well-maintained Graham center.
      9805 224Th St E, Graham, WA 98338
      View Details
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    Graham, WA 98338
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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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