Leased Restaurant with Built-In
21224 84th Avenue S Kent, WA 98032
21224 84th Avenue S, Kent, WA, 98032
$150,000
For Sale
$150,000
Other - Kent, WA
Property Size1,125 SF
Price / SF$133.33
Days on Market96
Property Features for 21224 84th Avenue S
General Information
- Property type
- Other
- Property subtype
- Business
- Standard status
- Active
- APN
- 0722059101
Utilities
- Heating system
- None (Heating)
Building Details
- Architectural style
- Other
Listing agency
Engel & Völkers Seattle Downtown
(206) 623-9697
Listed by
Robert Laing
(206) 623-9697
Added: Apr 17 Updated: Jul 15 at 3:03AM Checked: Jul 21 at 10:06AM
MLS# 2486661
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully built-out restaurant opportunity offers a leased space designed for food preparation and service. The commercial kitchen includes a Type I hood system with fire suppression, walk-in cooler and freezer, grease trap, and a tankless gas water heater, along with substantial gas and electrical capacity. The included equipment package features a 6-burner gas range with oven, multiple commercial microwaves, commercial convection ovens, an air compressor, and operational systems including a POS system and security system. An efficient layout supports dine-in configuration and high-volume production.
The sale is an asset sale only and includes assignment of the existing lease with approximately 2.5+ years remaining in the current term and a renewal option. The lease assignment is subject to landlord approval. Trade name, recipes, and intellectual property are not included.
Shown by appointment only; do not disturb staff.
The sale is an asset sale only and includes assignment of the existing lease with approximately 2.5+ years remaining in the current term and a renewal option. The lease assignment is subject to landlord approval. Trade name, recipes, and intellectual property are not included.
Shown by appointment only; do not disturb staff.
Key Highlights
- Fully built‑out 1,125 SF restaurant space with existing lease assignment (2.5+ years remaining).
- Substantial commercial kitchen infrastructure: Type I hood, walk‑in cooler/freezer, grease trap, tankless water heater.
- Includes essential asset package: 6‑burner range, commercial microwaves/ovens, POS and security systems.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.3k | $14.52 |
| − Vacancy | −$1.0k | −$0.90 |
| EGI | $15.3k | $13.62 |
| − OpEx | −$4.6k | −$4.09 |
| NOI | $10.7k | $9.53 |
1,125 SF · lease $14.52/SF/yr · vacancy 6.20% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$266.6K
$233.3K – $311.0K
NOI $18,662 @ 7.0% cap · market cap 12.44%
Second Best
Industrial
$153.2K
$134.1K – $178.8K
NOI $10,726 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$421.6K
$368.9K – $491.9K
NOI $29,511 @ 7.0% cap · market cap 19.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Paparepas Venezuelan Food
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Fully built-out restaurant space includes a Type I hood system, walk-ins, grease trap, and substantial gas and electrical capacity.
Where is this conventional restaurant located?
The property is located at 21224 84th Avenue S Kent, WA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Fully built‑out 1,125 SF restaurant space with existing lease assignment (2.5+ years remaining).; Substantial commercial kitchen infrastructure: Type I hood, walk‑in cooler/freezer, grease trap, tankless water heater.; Includes essential asset package: 6‑burner range, commercial microwaves/ovens, POS and security systems.
