Renton Industrial Property for
For Sale
$2,950,000
Pending
263 Rainier Ave S, Renton, WA 98057
Industrial property in Renton, WA, with convenient access to major cities.
Property Size11,530 SF
Days on Market829
Property Features for 263 Rainier Ave S
General Information
Standard status
Pending
Size
11,530 SF
Property subtype
Commercial
Building Details
Year Built
1980
Listing Agency:
MAPLE LEAF REAL ESTATE LLC
Listed By:
ROBERT GASCA
Source:
Corcoran
Added: May 15, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:41AM
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 MAPLE LEAF REAL ESTATE LLC
Investment Insights
Based on property information with market context.
Renton is recognized as a pro-business city with convenient access to Seattle, Bellevue, Tacoma, and SeaTac International Airport. The city is home to 99,692 residents and has become one of the most affluent areas in the region. Located approximately 11 miles from Seattle and 9 miles from Bellevue, Renton is a desirable location for commercial tenants. The city is known for manufacturing, technology, and healthcare organizations, including the Boeing 737 family of commercial airplanes, Valley Medical Center, Amazon Fulfillment Center, IKEA, Wizards of the Coast and Providence Health Services. The property offers 11,530 square feet of space.
Key Highlights
- Renton's emergence as a rapidly growing and desirable neighborhood.
- Convenient access to Seattle, Bellevue, Tacoma, and SeaTac International Airport.
- Pro‑business city environment.
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
$106,264
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
3.60%
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%
$2,125,280
$2.1M
Cap Rate 7%
$1,518,057
$1.5M
Cap Rate 9%
$1,180,711
$1.2M
Market Conditions
NOI Build-Up for 11,530 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
$164.6K $14.28/SF
− Vacancy
−$12.8K −$1.11/SF
EGI
$151.8K $13.17/SF
− OpEx
−$45.5K −$3.95/SF
NOI
$106.3K $9.22/SF
Area
Renton, WA
Vacancy
7.80%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
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%
$2,125,280
Cap Rate 7%
$1,518,057
Cap Rate 9%
$1,180,711
Alternative Uses
Best Use
Industrial
$1.52M
$1.33M – $1.77M
NOI $106,264 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.76M
$3.29M – $4.38M
NOI $262,967 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,058
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Industrial property in Renton, WA, with convenient access to major cities.
Where is this industrial property located?
The property is located at 263 Rainier Ave S Renton, WA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Renton's emergence as a rapidly growing and desirable neighborhood.; Convenient access to Seattle, Bellevue, Tacoma, and SeaTac International Airport.; Pro‑business city environment.
