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    412-418 W Meeker St Kent, WA 98032

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    For Sale
    $1,725,000

    Stabilized mixed-use property with immediate cash flow in revitalized Downtown.

    Lot size:
    0.19 Acres

    Property Features for 412-418 W Meeker St

    General Information

    Lot size
    0.19 Acres

    Source: The Foundation Group Agent Ethan Szmania

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

    Overview

    Mixed-Use Investment in Downtown Kent

    The Melbourne Building presents a mixed-use investment opportunity in Downtown Kent. The property is priced at a 7.39% cap rate. It offers immediate cash flow and value-add potential through residential unit renovations and rent increases. The property features a mix of residential and commercial tenants, diversified income streams, and minimal near-term rollover risk within a walkable downtown core. The retail portion is anchored by Aladdin Bail Bonds, a national tenant with approximately 7 years remaining on their lease plus renewal options, providing predictable income. Two additional tenants include a local business with years of tenancy. Located in Kent, Washington, a city with a population of over 135,000, the property benefits from a diverse economic base anchored by aerospace, manufacturing, logistics, and technology. The city has a median household income above $80,000 and renter demand driven by affordability and proximity to major job centers like Seattle, Bellevue, and Tacoma. Downtown Kent is experiencing revitalization.
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Kent
    County
    King
    State
    Washington
    Longitude
    -122.2291476
    Latitude
    47.3814755

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    FAQs

    What type of property is this?
    Mixed-use property - Stabilized mixed-use property with immediate cash flow in revitalized Downtown.
    Where is this mixed-use property located?
    The property is located at 412-418 W Meeker St Kent, WA.
    What is the asking price?
    The asking price for this property is $1,725,000.
    What are key features of this property?
    This property features: - High 7.39% Cap Rate: Offers immediate cash flow.; - Stabilized Mixed-Use Property: Balanced mix of residential and commercial tenants provides diversified income streams and minimal near-term rollover risk.; - Value-Add Potential: Opportunity for increased revenue through residential unit renovations and strategic rent increases.
    (206) 774-5419
    Request Owner's contact information
    412-418 W Meeker St 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
    412-418 W Meeker St Kent, WA 98032
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