Renton Office Building For
For Sale
$2,490,000
Pending
1131 7th Street, Renton, WA 98057
Office building in Blackriver Corporate Park with excellent regional access.
Property Size9,760 SF
Days on Market341
Property Features for 1131 7th Street
General Information
Standard status
Pending
Size
9,760 SF
Property subtype
Commercial
Building Details
Year Built
1986
Listing Agency:
HEARTLAND, LLC
(206) 682-2500
Listed By:
MATT ANDERSON
Source:
Corcoran
Added: Sep 3, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:51AM
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 HEARTLAND, LLC
Investment Insights
Based on property information with market context.
This property offers an opportunity for owner-users to acquire a building in the Blackriver Corporate Park. Located in Renton, Washington, the property is situated within a professionally managed business park, providing a corporate environment. The building features modern infrastructure and on-site parking. The location provides regional access.
Key Highlights
- Highly desirable Blackriver Corporate Park location.
- Excellent regional access in central Renton.
- Abundance of on‑site parking.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$172,715
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,454,300
$3.5M
Cap Rate 7%
$2,467,357
$2.5M
Cap Rate 9%
$1,919,056
$1.9M
Market Conditions
NOI Build-Up for 9,760 SF
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.
Gross rent
$322.1K $33.00/SF
− Vacancy
−$91.8K −$9.41/SF
EGI
$230.3K $23.60/SF
− OpEx
−$57.6K −$5.90/SF
NOI
$172.7K $17.70/SF
Area
Renton, WA
Vacancy
28.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,454,300
Cap Rate 7%
$2,467,357
Cap Rate 9%
$1,919,056
Alternative Uses
Best Use
Office B
$2.47M
$2.16M – $2.88M
NOI $172,715 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.18M
$2.78M – $3.71M
NOI $222,598 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
Explore this area
Business Placement
Demographics for 98057, WA
13,493
Population
6,656
Households
2
Avg Household Size
38
Median Age
34%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
2,176
Density / Sq Mi
$68,097
Median Household Income
$53,994
Median Earnings
$1,767
Median Rent
$606,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building in Blackriver Corporate Park with excellent regional access.
Where is this office building located?
The property is located at 1131 7th Street Renton, WA.
What is the asking price?
The asking price for this property is $2,490,000.
What are key features of this property?
This property features: Highly desirable Blackriver Corporate Park location.; Excellent regional access in central Renton.; Abundance of on‑site parking.
