Listing Agency: Kelly Right RE of Seattle LLC p***@kellyright.com

Listed By: Wen Xu Show Phone

Source: Exprealty

Added: Apr 1 Changed: Oct 3 Last Checked: Oct 11 at 9:07AM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kelly Right RE of Seattle LLC

Investment Insights

Based on property information with market context.

This ground floor commercial condo is located in historic Duvall. The end unit offers over 5,700 sq. ft. with two separate entrances: a main entrance with double doors and a side entrance with a single door. Customer parking is available directly in front of the unit, which also offers ADA access. Situated on Main Street in a high-traffic area, the property benefits from excellent visibility and is surrounded by established businesses, including Subway, Edward Jones Investment, Duvall Eye Care, and Evergreen Medical. The property is currently leased through 2028 with a long-term, stable tenant, providing immediate income potential. The tenant may be open to renewal, offering continued investment stability. Upon lease expiration, a future owner may choose to occupy or reposition the space. This versatile opportunity is located in a prime location.

Key Highlights

• Prime location on Main Street in Historic Duvall with high visibility and traffic.
• Currently leased through 2028 with a long‑term, stable tenant, providing immediate income.
• Over 5,700 sq. ft. of flexible office/retail space with two separate entrances.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$120,196

Cap Rate

8.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,403,920 $2.4M

Cap Rate 7%

$1,717,086 $1.7M

Cap Rate 9%

$1,335,511 $1.3M

Market Conditions

NOI Build-Up for 5,700 SF

Gross rent

$205.2K $36.00/SF

− Vacancy

−$44.9K −$7.88/SF

EGI

$160.3K $28.12/SF

− OpEx

−$40.1K −$7.03/SF

NOI

$120.2K $21.09/SF

Area

King County, WA

Vacancy

21.90%

Lease Rate

$36.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,403,920

Cap Rate 7%

$1,717,086

Cap Rate 9%

$1,335,511

Alternative Uses

Best Use

Office B

$1.72M

$1.50M – $2.00M (±1% cap)

NOI $120,196 @ 7.0% cap · market cap 8.07%

Second Best

Retail

$1.46M

$1.27M – $1.70M (±1% cap)

NOI $101,965 @ 7.0% cap · market cap 6.84%

Theoretical Best

Office A

$2.28M

$2.00M – $2.66M (±1% cap)

NOI $159,810 @ 7.0% cap · market cap 10.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Big Box & Wholesale Store HVAC Service Auto Repair Shop Auto Parts Store Electrical Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

366

Businesses Nearby

Explore this area Business Placement

Demographics for 98019, WA

12,284

Population

4,090

Households

3

Avg Household Size

39

Median Age

53%

College-Educated

97%

High-School Grad

35.7 sq mi

ZIP Area

344

Density / Sq Mi

$156,003

Median Household Income

$84,728

Median Earnings

$2,652

Median Rent

$746,500

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Ground-Floor Office Condo

14524 Main St NE Unit 109, Duvall, WA 98109

$1,490,000

View details

Sponsored

Residential Income Property in Duvall, WA

32255 197Th St, Duvall, WA 98019

$2,750,000

2,860 SF

View details

Frequently Asked Questions

What type of property is this?

Retail space - Mid-Town commercial condo with long-term tenant and high visibility.

Where is this retail space located?

The property is located at 109-14524 Main St Ne Duvall, WA.

What is the asking price?

The asking price for this property is $1,490,000.

What are key features of this property?

This property features: Prime location on Main Street in Historic Duvall with high visibility and traffic.; Currently leased through 2028 with a long‑term, stable tenant, providing immediate income.; Over 5,700 sq. ft. of flexible office/retail space with two separate entrances.