Downtown Enumclaw Retail/Office/Restaurant
For Sale
$2,400,000
Pending
1627 Cole St, Enumclaw, WA 98022
Two buildings totaling 6,500 SF in downtown Enumclaw.
Property Size6,500 SF
Days on Market646
Property Features for 1627 Cole St
General Information
Standard status
Pending
Size
6,500 SF
Property subtype
Commercial
Building Details
Year Built
2005
Listing Agency:
KW MOUNTAINS TO SOUND REALTY
Listed By:
TODD HUIZENGA · License #82949
(360) 825-6505
Source:
Corcoran
Added: Jan 8, 2025
Changed: Oct 15
Last Checked: Oct 14 at 11:18PM
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 KW MOUNTAINS TO SOUND REALTY
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Investment Insights
Based on property information with market context.
This property features two buildings, constructed in 2005, totaling approximately 6,500 square feet of retail, office, and restaurant space located in the downtown core of Enumclaw. The first building is fully leased and contains seven separate offices ranging in size from 230 to 729 square feet, along with three ADA-compliant bathrooms. The second building offers 3,257 square feet of clear-span construction, including two ADA-compliant bathrooms, one private office, and a storage room. This space is available for lease or owner occupancy. The property includes a PVC roof and three rooftop HVAC units. The property consists of two tax parcels.
Key Highlights
- Prime downtown Enumclaw location on Cole Street.
- Two buildings totaling approximately 6500 SF of retail/office/restaurant space.
- Building 1 is fully leased with 7 offices and 3 ADA bathrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,938
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,778,760
$2.8M
Cap Rate 7%
$1,984,829
$2.0M
Cap Rate 9%
$1,543,756
$1.5M
Market Conditions
NOI Build-Up for 6,500 SF
Gross rent
$195.0K $30.00/SF
− Vacancy
−$9.8K −$1.50/SF
EGI
$185.3K $28.50/SF
− OpEx
−$46.3K −$7.13/SF
NOI
$138.9K $21.38/SF
Area
King County, WA
Vacancy
5.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,778,760
Cap Rate 7%
$1,984,829
Cap Rate 9%
$1,543,756
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.74M – $2.32M
NOI $138,938 @ 7.0% cap · market cap 5.79%
Second Best
Office B
$1.96M
$1.71M – $2.28M
NOI $137,066 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$2.60M
$2.28M – $3.04M
NOI $182,239 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 98022, WA
22,874
Population
9,828
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
726.5 sq mi
ZIP Area
31
Density / Sq Mi
$116,613
Median Household Income
$59,360
Median Earnings
$1,626
Median Rent
$577,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Retail space - Two buildings totaling 6,500 SF in downtown Enumclaw.
Where is this retail space located?
The property is located at 1627 Cole St Enumclaw, WA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Prime downtown Enumclaw location on Cole Street.; Two buildings totaling approximately 6500 SF of retail/office/restaurant space.; Building 1 is fully leased with 7 offices and 3 ADA bathrooms.
