Well-Maintained Warehouse with Income
15106 10th Ave SW Burien, WA
For Sale
Contact for pricing
Two-building property with renovated office and warehouse space for sale.
Property Size14,425 SF
Lot Size0.35 Acres
Price / SF$242.63
Days on Market468
Property Features for 15106 10th Ave SW
General Information
Standard status
Active
Size
14,425 SF
Lot size
0.35 Acres
Property subtype
INDUSTRIAL
Listing Agency:
NWC - KV LLC
(253) 606-7610
Listed By:
Tim Pavolka
(253) 606-7610
Source:
Moodyscre
Added: Apr 16, 2025
Changed: Jul 6
Last Checked: Jul 22 at 4:12AM
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 NWC - KV LLC
Investment Insights
Based on property information with market context.
The property at 15106 10th Ave SW features two buildings. The main building provides 12,893 square feet, including renovated office space and 5,500 square feet of open warehouse area with a 20-foot clear height, plus an additional shop area. The second building measures 1,532 square feet and is currently 100% occupied, providing additional income. The total available size is 14,425 square feet on a 15,240 square foot lot. Loading is facilitated by one grade-level door and two dock-high doors.
Key Highlights
- Two buildings on the property, totaling 14,425 SF of space.
- Main building features a renovated office space and a 5,500 SF open warehouse.
- Warehouse clear height of 20'.
Financial Insights For Warehouse
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 | $225.0k | $15.60 |
| − Vacancy | −$17.8k | −$1.23 |
| EGI | $207.3k | $14.37 |
| − OpEx | −$31.1k | −$2.16 |
| NOI | $176.2k | $12.21 |
14,425 SF · lease $15.60/SF/yr · vacancy 7.90% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.52M
$2.20M – $2.94M
NOI $176,165 @ 7.0% cap · market cap 5.03%
Second Best
Industrial
$2.07M
$1.81M – $2.42M
NOI $145,077 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$5.78M
$5.06M – $6.74M
NOI $404,431 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Warehouse - Two-building property with renovated office and warehouse space for sale.
Where is this warehouse located?
The property is located at 15106 10th Ave SW Burien, 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: Two buildings on the property, totaling 14,425 SF of space.; Main building features a renovated office space and a **5,500 SF open warehouse**.; **Warehouse clear height of 20'**.
