Sumner Warehouse/Manufacturing Facility For
For Sale
$38,200,000
1607 136th Avenue E, Sumner, WA 98390
159,250 SF warehouse/manufacturing facility with convenient access to SR-167.
Property Size159,250 SF
Lot Size6.93 Acres
Price / SF$239.87
Days on Market167
Property Features for 1607 136th Avenue E
General Information
Standard status
Active
Size
159,250 SF
Lot size
6.93 Acres
Property subtype
Industrial
Listing Agency:
NAI Puget Sound Properties
(425) 586-5610
Listed By:
Jeff Forsberg, CCIM
Source:
Nai-psp
Added: Mar 6
Changed: Jul 6
Last Checked: Aug 20 at 4:16AM
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
Investment Insights
Based on property information with market context.
This 159,250 square foot warehouse and manufacturing facility, constructed in 2015, is available for sale in Sumner, Washington. The property includes 3,370 square feet of office space and is situated on a 6.93-acre lot. It features 23 dock-high doors and 2 grade-level doors for loading. The building is equipped with an ESFR sprinkler system and offers a clear height of 30 feet. It has heavy power capabilities with 1,600 amps, 480-v, 3-phase. There are 91 parking stalls available. The property is zoned M-1, Light Industrial, and provides convenient access to SR-167.
Key Highlights
- Excellent freeway access to SR‑167
- 159,250 SF total warehouse/manufacturing space**
- Heavy Power: 1,600 amps, 480‑v, 3‑phase
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
$1,944,834
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
5.09%
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%
$38,896,680
$38.9M
Cap Rate 7%
$27,783,343
$27.8M
Cap Rate 9%
$21,609,267
$21.6M
Market Conditions
NOI Build-Up for 159,250 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
$2.48M $15.60/SF
− Vacancy
−$196.3K −$1.23/SF
EGI
$2.29M $14.37/SF
− OpEx
−$343.2K −$2.16/SF
NOI
$1.94M $12.21/SF
Area
Pierce County, WA
Vacancy
7.90%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
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%
$38,896,680
Cap Rate 7%
$27,783,343
Cap Rate 9%
$21,609,267
Alternative Uses
Best Use
Warehouse
$27.78M
$24.31M – $32.41M
NOI $1,944,834 @ 7.0% cap · market cap 5.09%
Second Best
Industrial
$22.88M
$20.02M – $26.69M
NOI $1,601,628 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$43.01M
$37.64M – $50.18M
NOI $3,010,819 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 98390, WA
11,727
Population
4,836
Households
2.4
Avg Household Size
39
Median Age
23%
College-Educated
91%
High-School Grad
9.2 sq mi
ZIP Area
1,275
Density / Sq Mi
$97,815
Median Household Income
$56,909
Median Earnings
$1,886
Median Rent
$471,500
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Manufacturing property - 159,250 SF warehouse/manufacturing facility with convenient access to SR-167.
Where is this manufacturing property located?
The property is located at 1607 136th Avenue E Sumner, WA.
What is the asking price?
The asking price for this property is $38,200,000.
What are key features of this property?
This property features: Excellent freeway access to SR‑167; 159,250 SF total warehouse/manufacturing space**; Heavy Power: 1,600 amps, 480‑v, 3‑phase
