Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Tukwila Office Space Available Title is generated by Realmo AI

    565 Andover Park W, Tukwila, WA 98188

    View on Map
    Claim this Listing
    For Lease
    $27,224 SF/Yr $25,123,214/Mo (calc)

    Full floor office space in Southcenter with building signage.

    Type:Commercial
    Property size:
    11,074 SF
    Added:
    Mar 13, 2023
    Days on Market:
    1182
    Last Refresh:
    Apr 5 at 11:19 pm

    Property Features for 565 Andover Park W

    General Information

    Standard status
    Active
    Size
    11,074 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    MIKE GEORGE

    Listing agent MIKE GEORGE

    Listing office NAI PUGET SOUND PROPERTIES

    Listing date Mar 13, 2023

    Source Corcoran

    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 NAI PUGET SOUND PROPERTIES

    HighLights

    • Abundant parking with a ratio of 4+/1,000 SF.
    • Centrally located in Southcenter within a 200,000 SF office campus.
    • On‑site amenities include a 50‑person conference room and fitness center.
    • No local business occupation tax.
    • Building signage available.
    • Strong responsive local ownership.

    Overview

    This full floor office space offers exposure to Andover Park West and includes the availability of building signage. The property is part of a 10-building, 200,000 square foot office campus centrally located in Southcenter. On-site amenities include a 50-person conference room, a fitness center, and a two-story atrium lounge. Several improvements are planned for 2021, including updated common areas and new restrooms. Abundant parking is available, with a ratio of 4+ per 1,000 square feet. There is no local business occupation tax. The property benefits from strong, responsive local ownership. Several high-speed fiber internet providers are available. The tax ID number is 2623049144. The property size is 11,074 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Auto Repair Shop Dental Office Building Supply Big Box & Wholesale Store Hair Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Tukwila
    County
    King
    State
    Washington
    Longitude
    -122.2549632
    Latitude
    47.4512819

    Nearby Similar for Lease

    • Sponsored
      $129-$5,516/Mo
      11-1,292 SF

      WA, Seattle - Andover Park W

      555 Andover Park, Tukwila, WA 98188
      View Details
    • $12,600/Mo
      13,484 SF

      Tukwila Warehouse/Distribution Facility Sublease

      Warehouse/distribution facility with office space available for sublease in Tukwila.
      17640 West Valley Highway, Tukwila, WA 98188
      View Details
    • $12,600/Mo
      13,484 SF

      Tukwila Warehouse/Distribution Facility Sublease

      Warehouse/distribution facility with office space available for sublease in Tukwila.
      17640 West Valley Highway, Tukwila, WA 98188
      View Details
    • $14,000/Mo
      9,374 SF

      Tukwila Showroom/Flex/Office Space Available

      High-visibility Tukwila corner location near Westfield Southcenter.
      131 Andover Park East, Tukwila, WA 98188
      View Details
    • $21 SF/Yr
      251 SF

      Tukwila Flex Space Near Freeways

      Centrally located flex, industrial, and office spaces with quick freeway access.
      596 Industry Dr, Tukwila, WA 98188
      View Details
    • $5,279/Mo
      2,514 SF

      Tukwila Flex/Industrial/Office Space For Rent

      Centrally located park with office and industrial spaces for rent.
      605 Industry Dr, Tukwila, WA 98188
      View Details
    • $3,942/Mo
      1,877 SF

      Tukwila Flex Space Near Freeways

      Centrally located office and industrial spaces with quick freeway access.
      830 Industry Dr, Tukwila, WA 98188
      View Details
    • $6,006/Mo
      3,003 SF

      Tukwila Flex and Industrial Space

      Centrally located flex, industrial, and office spaces for lease.
      1158 Industry Dr, Tukwila, WA 98188
      View Details
    • $6,432/Mo
      3,216 SF

      Tukwila Flex/Industrial/Office Space Available

      Centrally located park with office and industrial spaces for lease.
      825 Industry Dr, Tukwila, WA 98188
      View Details
    • $130 SF/Yr
      782 SF

      Tukwila Flex Space Near Mall

      Centrally located flex space with quick freeway and airport access.
      625 Strander Boulevard, Tukwila, WA 98188
      View Details
    • $3,389/Mo
      1,614 SF

      Tukwila Flex Space Near Freeways

      Centrally located flex, industrial, and office spaces for lease.
      970 Industry Dr, Tukwila, WA 98188
      View Details
    • $4,450/Mo
      2,119 SF

      Tukwila Flex Space Available

      Centrally located office and industrial spaces with quick freeway access.
      950 Industry Dr, Tukwila, WA 98188
      View Details

    FAQs

    What type of property is this?
    Office units - Full floor office space in Southcenter with building signage.
    Where is this office units located?
    The property is located at 565 Andover Park W Tukwila, WA.
    What is the lease rate?
    The lease rate is $27,224.
    What are key features of this property?
    This property features: Abundant parking with a ratio of 4+/1,000 SF.; Centrally located in Southcenter within a 200,000 SF office campus.; On‑site amenities include a 50‑person conference room and fitness center.
    (425) 586-5618
    We can help!
    Listing Contact
    MIKE GEORGE
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    565 Andover Park W, Tukwila, WA 98188
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!