Flex Building with Grade-Level
For Sale
Contact for pricing
13003 Tukwila International Blvd, Tukwila, WA 98168
Owner-user flex building features office, warehouse/showroom space, storage, and a 12’ x 12’ roll-up door.
Property Size5,856 SF
Price / SF$392.76
Days on Market181
Property Features for 13003 Tukwila International Blvd
General Information
Standard status
Active
Size
5,856 SF
Property subtype
INDUSTRIAL
Zoning
NCC
Warehouse & Industrial
Clear Height
19 ft
Office Build-Out
2,312 SF
Drive-In Doors
1
Additional Details
Road Access
Yes
Amenities
kitchenette
shower
Building Details
Buildings
1
Building Size
5,856 SF
Listing Agency:
City Closers Commercial Real Estate
(206) 915-6028
Listed By:
Kelsey Diller · License #24667
(206) 915-6028
Source:
Moodyscre
Added: Feb 10
Changed: Aug 8
Last Checked: Aug 10 at 6:13AM
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 City Closers Commercial Real Estate
Investment Insights
Based on property information with market context.
This flex building totals 5,856 SF and is designed for a mix of office and operational space. Approximately 2,312 SF is dedicated to office, with an additional 3,171 SF of warehouse/showroom space and 373 SF of storage. The building includes a 12’ x 12’ roll-up door and approximately 19’ warehouse ceiling height.
The property offers customer/employee parking and grade-level loading. Recent improvements include an updated office build-out, kitchenette, shower, HVAC, lighting, flooring, and finishes.
NCC zoning supports a range of commercial uses, making the space well-suited for contractors, service businesses, showroom users, trades, specialty retail, or owner-users seeking flexible operational space.
The property offers customer/employee parking and grade-level loading. Recent improvements include an updated office build-out, kitchenette, shower, HVAC, lighting, flooring, and finishes.
NCC zoning supports a range of commercial uses, making the space well-suited for contractors, service businesses, showroom users, trades, specialty retail, or owner-users seeking flexible operational space.
Key Highlights
- 5,856 SF owner‑user flex building on Tukwila International Boulevard with office, warehouse/showroom, storage, and grade‑level loading
- Space breakdown: ~2,312 SF office, 3,171 SF warehouse/showroom, and 373 SF storage
- 12' x 12' roll‑up door and approximately 19' warehouse ceiling height
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
$123,485
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
5.37%
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%
$2,469,700
$2.5M
Cap Rate 7%
$1,764,071
$1.8M
Cap Rate 9%
$1,372,056
$1.4M
Market Conditions
NOI Build-Up for 5,856 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
$210.8K $36.00/SF
− Vacancy
−$46.2K −$7.88/SF
EGI
$164.6K $28.12/SF
− OpEx
−$41.2K −$7.03/SF
NOI
$123.5K $21.09/SF
Area
King County, WA
Vacancy
21.90%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,469,700
Cap Rate 7%
$1,764,071
Cap Rate 9%
$1,372,056
Alternative Uses
Best Use
Office B
$1.76M
$1.54M – $2.06M
NOI $123,485 @ 7.0% cap · market cap 5.37%
Second Best
Retail
$1.50M
$1.31M – $1.75M
NOI $104,756 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,184 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19 ft
Clear height
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98168, WA
36,389
Population
13,338
Households
2.7
Avg Household Size
37
Median Age
24%
College-Educated
79%
High-School Grad
8.8 sq mi
ZIP Area
4,135
Density / Sq Mi
$84,937
Median Household Income
$44,630
Median Earnings
$1,724
Median Rent
$500,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- WUHA Ethiopian-American Cuisine — 14200 Tukwila International Blvd, Tukwila, WA 98168
- Karin Schnei — 14000 Tukwila International Blvd, Tukwila, WA 98168
Frequently Asked Questions
What type of property is this?
Flex space - Owner-user flex building features office, warehouse/showroom space, storage, and a 12’ x 12’ roll-up door.
Where is this flex space located?
The property is located at 13003 Tukwila International Blvd Tukwila, WA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 5,856 SF owner‑user flex building on Tukwila International Boulevard with office, warehouse/showroom, storage, and grade‑level loading; Space breakdown: ~2,312 SF office, 3,171 SF warehouse/showroom, and 373 SF storage; 12' x 12' roll‑up door and approximately 19' warehouse ceiling height
