Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3516 116Th St Tukwila, WA 98168

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,439 /Mo ($3 SF/Yr)

    5,756 SF divisible office/flex space for lease in Tukwila.

    Property size:
    5,756 SF
    Lot size:
    5,756 SF

    Property Features for 3516 116Th St

    General Information

    Standard status
    Active
    Size
    5,756 SF

    Building Details

    Year built
    1996

    We can help!

    Listing Contact
    Al Robertson
    Source: Corcoran

    Listing Agency: NAI PUGET SOUND PROPERTIES Listing Agent: Al Robertson

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

    Learn more

    Overview

    Divisible Office/Flex Space in Tukwila

    This property offers 5,756 total square feet of divisible space, including 2,756 square feet on the ground floor and 3,000 square feet on the mezzanine level. It is located in a high-image building with a central location that provides quick access to I-5, both north and south. The property includes substantial employee parking capacity. The property is available for lease at $1.50 per square foot, gross monthly. The Tax ID number is 1023049076.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Tukwila
    County
    King
    State
    Washington
    Longitude
    -122.2874916
    Latitude
    47.4996846

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      WA, Seattle - Andover Park W

      Discover many ways to work your way in Highland Pointe
      555 Andover Park, Tukwila, WA 98188
      View Details
    • $2.00 SF/Yr
      2,526 SF

      Tukwila Flex Space Available

      Centrally located office and industrial spaces with quick freeway access.
      701 Industry Dr, Tukwila, WA 98188
      View Details
    • Contact for pricing

      Modern Office Spaces in Tukwila

      Prime office spaces with flexible layouts and convenient transportation access.
      12620 Interurban Ave South, Tukwila, WA 98168
      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
    • $0.70 SF/Yr
      126,060 SF

      Tukwila Specialty Property for Lease

      Specialty property available for lease in Tukwila, Washington.
      1000 Andover Park West, Tukwila, WA 98188
      View Details
    • $24 SF/Yr
      1,992 SF

      Tukwila Office Space Available

      Office space for rent with convenient access to transportation.
      14220 Interurban Ave S, Tukwila, WA 98168
      View Details
    • $26 SF/Yr
      1,795 SF

      Tukwila Office Space for Rent

      Office space in park-like setting with Green River views.
      14900 Interurban Ave S, Tukwila, WA 98168
      View Details
    • $28 SF/Yr
      1,889 SF

      Tukwila Office Space Available

      Market-ready office space in a centrally located Southcenter campus.
      635 Andover Park West, Tukwila, WA 98188
      View Details
    • $1.10 SF/Yr
      4,842 SF

      Tukwila Flex Space Available

      Centrally located office and industrial spaces with quick freeway access.
      1001-1099 Industry Dr, Tukwila, WA 98188
      View Details
    • $2.00 SF/Yr
      3,456 SF

      Tukwila Flex Space Available

      Centrally located office and industrial spaces with quick freeway access.
      742 Industry Dr, Tukwila, WA 98188
      View Details
    • $28 SF/Yr

      Flexible Office Spaces Near Southcenter

      Office spaces for lease with excellent highway and transit access.
      5200 Southcenter Pkwy, Tukwila, WA 98188
      View Details
    • $28 SF/Yr

      Southcenter Office Campus For Rent

      Premier office campus in Southcenter with on-site amenities.
      555 Andover Park W, Tukwila, WA 98188
      View Details

    FAQs

    What type of property is this?
    Office units - 5,756 SF divisible office/flex space for lease in Tukwila.
    Where is this office units located?
    The property is located at 3516 116Th St Tukwila, WA.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    What are key features of this property?
    This property features: - 5,756 total square feet available.; - Divisible space offering flexibility (2,756 sq ft ground floor & 3,000 sq ft mezzanine).; - Centrally located with quick access to I-5 North and South.
    (206) 388-6030
    Request Owner's contact information
    3516 116Th St Tukwila, WA 98168
    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.
    3516 116Th St
    Tukwila, WA 98168
    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
    3516 116Th St Tukwila, WA 98168
    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

    We can help!
    Listing Contact
    Al Robertson
    (206) 388-6030
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!