Kent Commercial Lot with
For Sale
Contact for pricing
418 Central Ave N, Kent, WA
24,246 SF lot with 2,438 SF building in Kent.
Property Size24,240 SF
Lot Size1.37 Acres
Price / SF$226.90
Days on Market1185
Property Features for 418 Central Ave N
General Information
Standard status
Active
Size
24,240 SF
Lot size
1.37 Acres
Property subtype
RETAIL
Listing Agency:
Keller Williams Realty - Federal Way
(253) 335-3019
Listed By:
Austin Scarsella · License #115168
(253) 335-3019
Source:
Moodyscre
Added: May 10, 2023
Changed: Jul 6
Last Checked: Jul 21 at 3:00AM
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 Keller Williams Realty - Federal Way
Investment Insights
Based on property information with market context.
This property features a 2,438-square-foot building situated on a 24,246-square-foot lot in downtown Kent. The building is equipped with single-phase 110V and 220V electrical systems and includes three bay doors ranging from 9 feet to 11 feet 7 inches in height. Located in a well-established commercial district, the property offers significant potential. The zoning allows for a variety of commercial, industrial, and retail uses.
Key Highlights
- 24,246 sq ft lot in downtown Kent
- Versatile GCMU zoning allows for commercial, industrial, and retail uses
- Includes a 2,438 sq ft building
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
$355,850
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
6.47%
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%
$7,117,000
$7.1M
Cap Rate 7%
$5,083,571
$5.1M
Cap Rate 9%
$3,953,889
$4.0M
Market Conditions
NOI Build-Up for 24,240 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
$532.3K $21.96/SF
− Vacancy
−$24.0K −$0.99/SF
EGI
$508.4K $20.97/SF
− OpEx
−$152.5K −$6.29/SF
NOI
$355.8K $14.68/SF
Area
Kent, WA
Vacancy
4.50%
Lease Rate
$21.96 /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%
$7,117,000
Cap Rate 7%
$5,083,571
Cap Rate 9%
$3,953,889
Alternative Uses
Best Use
Retail
$5.08M
$4.45M – $5.93M
NOI $355,850 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.08M
$7.95M – $10.60M
NOI $635,873 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,579
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail property - 24,246 SF lot with 2,438 SF building in Kent.
Where is this retail property located?
The property is located at 418 Central Ave N Kent, WA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 24,246 sq ft lot in downtown Kent; Versatile GCMU zoning allows for commercial, industrial, and retail uses; Includes a 2,438 sq ft building
