Ground-Floor Office End
For Sale
$1,490,000
14524 Main Street NE #109, Duvall, WA 98109
Commercial condo with direct customer parking, dual entry points, and ADA access.
Property Size5,700 SF
Price / SF$261.40
Days on Market141
Property Features for 14524 Main Street NE #109
General Information
Standard status
Active
Size
5,700 SF
Property subtype
Commercial
Zoning
Commercial, Office, Retail
Occupancy
100%
Site & Location
End Cap
Yes
Road Access
Yes
Additional Details
Floor
Ground Floor
Taxes and HOA fees
Annual Taxes
$11,579
Building Details
Year Built
2003
Units
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
Kelly Right RE of Seattle LLC
(206) 525-5235
Listed By:
Caroline Xu
(206) 525-5235
Source:
Multifamilyspecialist
Added: Apr 1
Changed: Aug 16
Last Checked: Aug 19 at 2:17PM
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 Kelly Right RE of Seattle LLC
Investment Insights
Based on property information with market context.
This ground-floor commercial condominium occupies an end position and provides over 5,700 sq. ft. of office space. Two independent entry points support flexible access, while customer parking is positioned immediately outside the unit. ADA access is also available.
The property is located on Main Street in Duvall, within a commercial setting that includes Subway, Edward Jones Investment, Duvall Eye Care, and Evergreen Medical. Zoning supports commercial, office, and retail uses. The unit is currently leased through 2028, providing an established occupancy profile for the next owner.
The property is located on Main Street in Duvall, within a commercial setting that includes Subway, Edward Jones Investment, Duvall Eye Care, and Evergreen Medical. Zoning supports commercial, office, and retail uses. The unit is currently leased through 2028, providing an established occupancy profile for the next owner.
Key Highlights
- Over 5,700 sq. ft. of ground‑floor office space
- End‑unit commercial condominium
- Two separate entrances for flexible access
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
$120,196
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
8.07%
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%
$2,403,920
$2.4M
Cap Rate 7%
$1,717,086
$1.7M
Cap Rate 9%
$1,335,511
$1.3M
Market Conditions
NOI Build-Up for 5,700 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
$205.2K $36.00/SF
− Vacancy
−$44.9K −$7.88/SF
EGI
$160.3K $28.12/SF
− OpEx
−$40.1K −$7.03/SF
NOI
$120.2K $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%
$2,403,920
Cap Rate 7%
$1,717,086
Cap Rate 9%
$1,335,511
Alternative Uses
Best Use
Office B
$1.72M
$1.50M – $2.00M
NOI $120,196 @ 7.0% cap · market cap 8.07%
Second Best
Retail
$1.46M
$1.27M – $1.70M
NOI $101,965 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$2.28M
$2.00M – $2.66M
NOI $159,810 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Explore this area
Business Placement
Demographics for 98109, WA
34,551
Population
23,162
Households
1.5
Avg Household Size
32
Median Age
78%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
18,185
Density / Sq Mi
$130,845
Median Household Income
$104,202
Median Earnings
$2,329
Median Rent
$986,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial condo with direct customer parking, dual entry points, and ADA access.
Where is this office units located?
The property is located at 14524 Main Street NE #109 Duvall, WA.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Over 5,700 sq. ft. of ground‑floor office space; End‑unit commercial condominium; Two separate entrances for flexible access
