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

    Washington Ave N, WA

    • Office Properties & Spaces
    • 1,608 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Nov 13, 2023
    $264,074
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    6.6%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US90-0608375
    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

    • Office Properties & Spaces

    Property Details for Washington Ave

    Year built
    1979
    Construction
    WOOD FRAME
    Lot size
    0.14 lot acres
    Property size
    1,608 SF
    Zone code
    C1
    Property type
    Office Properties & Spaces
    APN
    3605002860
    APU
    3605002860

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $290,000
      ML approach
      $315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $480,000
      6.5%
      $440,000
      7%
      $410,000

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

    Location Insight

    • Map
    • Local Demand
    City
    N
    County
    Pierce
    State
    Washington
    Longitude
    -122.266
    Latitude
    46.8674
    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
    $0.00
    $87,200
    $253,000
    $340,200
    -
    $87,200
    $253,000
    $340,200

    Comparable in this City

    • Value Estimation
      $345,000
      20,403 SF

      Station

      OFFICE (GENERAL) • 20,403 SF
      Station, Dr, WA
      View Details
    • Value Estimation
      $405,000
      15,213 SF

      702 To 704

      OFFICE (GENERAL) • 15,213 SF
      702 To 704, Broadway, WA
      View Details
    • Value Estimation
      $480,000
      12,272 SF

      4th Ave

      OFFICE (GENERAL) • 12,272 SF
      4th Ave, Ne, WA
      View Details
    • Value Estimation
      $235,000
      6,052 SF

      Peacock Hill

      OFFICE (GENERAL) • 6,052 SF
      Peacock Hill, Ave, WA
      View Details
    • Value Estimation
      $295,000
      1,007 SF

      Stevens Ave, WA

      OFFICE (GENERAL) • 1,007 SF
      102, Stevens Ave, WA
      View Details
    • Value Estimation
      $280,000
      1,152 SF

      Guthrie Rd, WA

      OFFICE (GENERAL) • 1,152 SF
      Guthrie Rd, WA
      View Details

    Similar Nearby for Sale

    • $200,000

      Office Space For Sale

      Office property available for purchase in Airway Heights, WA.
      1414 S Mullen St, Airway Heights, WA
      View Details
    • $2,850,000
      10,266 SF

      Kennewick Office Building For Sale

      First-class office building in the heart of west Kennewick.
      6921 Crosswind Blvd, Kennewick, WA
      View Details
    • $2,450,000
      11,562 SF

      Income-Generating Office/Retail Building For Sale

      Two-story office/retail building with high visibility and income potential.
      717 Vandercook Way, Kelso, WA
      View Details
    • $1,040,000

      Poulsbo Office Building For Sale

      Office building for sale in Poulsbo, Washington.
      18925 Front St NE, Poulsbo, WA
      View Details
    • $1,050,000

      Prime Corner Lot on Peninsula

      One-acre corner lot suitable for various commercial developments.
      15610 92 St, Lakebay, WA
      View Details
    • $1,150,000

      Stand Alone Burien Building

      Office or retail building in Burien with ample parking.
      112 SW 157 St, Burien, WA
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      1,160 SF

      Spokane Valley Office Space Available

      Office suite available for lease in Spokane Valley, Washington.
      708-720 N Argonne Rd, Spokane Valley, WA
      View Details
    • Contact for pricing
      44,500 SF

      Bellevue Office Space Available

      44,500 SF office space for rent in Bellevue, WA.
      12343 NE Spg Blvd, Bellevue, WA
      View Details
    • Contact for pricing
      1,491 SF

      Woodinville Office Space Available

      Office space available for rent in Woodinville, Washington.
      14000 Vlg Rd, Woodinville, WA
      View Details
    • $24 SF/Yr
      1,800 SF

      Tumwater Office Space For Rent

      Professional office space available in Tumwater Center North.
      344 Cleveland Ave Southeast, Olympia, WA
      View Details
    • Contact for pricing
      12,000 SF

      Seattle Office Space Available

      12,000 square foot office space for rent in Seattle.
      18435 Olympic Ave South, Seattle, WA
      View Details
    • $28 SF/Yr
      5,701 SF

      Bonney Lake Office Space Available

      5,701 SF office space for lease in Bonney Lake.
      18209 Sr 410, Bonney Lake, WA
      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.
    Washington Ave
    N, WA
    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.