Tukwila Flex Industrial
11521 Marginal Way, Tukwila, WA 98168
Flex industrial property with office space and warehouse components.
Property size:
31,363 SFLot size:
2.10 AcresPrice / SF:
$291/SF- Added:
- Mar 20, 2026
- Days on Market:
- 101
- Last Refresh:
- Mar 20 at 8:08 pm
Property Features for 11521 Marginal Way
General Information
- Standard status
- Active
- Size
- 31,363 SF
- Lot size
- 2.10 Acres
Building Details
- Year Built
- 1996
Listing office NEWMARK
Listing date Mar 20, 2026
Source Corcoran
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 NEWMARK
HighLights
- Significant Income: Current NNN lease generates $40,647.95 per month, increasing to $41,878.67 on 10/1/26.
- Substantial Building Size: Total building area of 31,363 SF on a 91,608 SF lot.
- Ample Office Space: Approximately 14,000 SF of total office space across two stories.
- Functional Loading Capabilities: Equipped with 6 Dock High doors and 2 Grade Level doors.
- High Ceiling Clearance: Features a 24’ clear height.
- Recent Upgrades: Roof and HVAC system replaced within the last decade.
Overview
This flex industrial property features a total building area of 31,363 square feet situated on a 91,608 square foot lot. Constructed in 1996, the property includes approximately 14,000 square feet of office space spread across two stories. The north office component comprises approximately 8,000 square feet, including a 3,000 square foot mezzanine, while the south office area offers approximately 6,000 square feet, also with a 3,000 square foot mezzanine. The warehouse area is equipped with six dock-high doors and two grade-level doors. The building provides a clear height of 24 feet. The roof and HVAC systems have been replaced within the last decade. Zoned as MIC/LL, the property is currently under lease with an expiration date of October 1, 2027. The current rent is $40,647.95 per month, NNN, with an increase to $41,878.67 scheduled for October 1, 2026. The lease expires on September 30, 2027.
Local Financial Insights For Office B
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 | $1.13M | $36.00 |
| − Vacancy | −$247.3k | −$7.88 |
| EGI | $881.8k | $28.12 |
| − OpEx | −$220.5k | −$7.03 |
| NOI | $661.4k | $21.09 |
31,363 SF · lease $36.00/SF/yr · vacancy 21.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$9.45M
$8.27M – $11.02M
NOI $661,352 @ 7.0% cap · market cap 7.23%
Second Best
Flex RnD
$6.43M
$5.63M – $7.50M
NOI $450,266 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$12.56M
$10.99M – $14.66M
NOI $879,318 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Flex space
Similar Places Nearby
- Delightful Cuisine — 10836 E Marginal Wy S, Tukwila, WA 98168
- TCG Catering & Events — 10836 E Marginal Wy S, Tukwila, WA 98168
- Subtle Approach Catering — 10836 E Marginal Wy S, Tukwila, WA 98168
- Savory Kitchen Catering — 10836 E Marginal Wy S, Tukwila, WA 98168
- ktchen Mechanic — 10836 E Marginal Wy S, Tukwila, WA 98168
Location Insight
- Map
- Local Demand
- City
- Tukwila
- County
- King
- State
- Washington
- Longitude
- -122.2887894
- Latitude
- 47.4997514
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Flex industrial property with office space and warehouse components.
Where is this flex space located?
The property is located at 11521 Marginal Way Tukwila, WA.
What is the asking price?
The asking price for this property is $9,150,000.
What are key features of this property?
This property features: Significant Income: Current NNN lease generates $40,647.95 per month, increasing to $41,878.67 on 10/1/26.; Substantial Building Size: Total building area of 31,363 SF on a 91,608 SF lot.; Ample Office Space: Approximately 14,000 SF of total office space across two stories.
