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    235 1St Ave S Kent, WA 98032

    For Sale
    $3,500,000

    Two-story mixed-use property with income upside in South King County.

    Property size:
    26,536 SF

    Property Features for 235 1St Ave S

    General Information

    Size
    26,536 SF

    Source: Kyle Sterling Agent Kyle Sterling

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Asset in Active Submarket

    Originally constructed in 1906, this two-story mixed-use property is located in an active submarket of South King County. The 24,000 square foot building features nine ground-floor commercial suites and eighteen residential units on the second floor. The property offers immediate income upside, with one 3,224 square foot commercial suite and one residential unit currently vacant. Recent capital improvements have been made. The property is located steps from the Sounder Train, Metro routes, parks, and new mixed-use developments, placing it within a high-demand rental corridor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    King
    State
    Washington
    Longitude
    -122.2337321
    Latitude
    47.3798925

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    FAQs

    What type of property is this?
    Mixed-use property - Two-story mixed-use property with income upside in South King County.
    Where is this mixed-use property located?
    The property is located at 235 1St Ave S Kent, WA.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: - Attractive 7.87% CAP Rate.; - Immediate income upside through lease-up of vacant commercial suite (3,224 SF) and residential unit.; - Mixed-use asset with nine ground-floor commercial suites and eighteen residential units.
    (425) 586-5608
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    235 1St Ave S Kent, WA 98032
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    Kent, WA 98032
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    235 1St Ave S Kent, WA 98032
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