Warehouse with Operational Paint
For Sale
$3,100,000
17000 Valley Hwy, Tukwila, WA 98188
Warehouse with grade level door, fenced secure site, and operational paint booth plus office/showroom space.
Property Size9,800 SF
Price / SF$316.33
Days on Market68
Property Features for 17000 Valley Hwy
General Information
Standard status
Active
Size
9,800 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Building Details
Year Built
1980
Listing Agency:
NAI PUGET SOUND PROPERTIES
(425) 586-5609
Listed By:
JEFF FORSBERG, CCIM
Source:
Corcoran
Added: Jun 17
Changed: Aug 23
Last Checked: Aug 23 at 3:45AM
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.
For sale warehouse facility with approximately 9,800 square feet of warehouse space and about 1,200 square feet of office/showroom area. The building includes a grade level door and approximately 16’ clearance. A permitted paint booth is installed and operational.
The site is fenced and secured and offers exposure off W. Valley Hwy, with immediate freeway access available. The property is ready now.
This layout supports a mix of production and customer-facing presentation through the combined warehouse and office/showroom configuration, with the paint booth providing an on-site, operational capability.
The site is fenced and secured and offers exposure off W. Valley Hwy, with immediate freeway access available. The property is ready now.
This layout supports a mix of production and customer-facing presentation through the combined warehouse and office/showroom configuration, with the paint booth providing an on-site, operational capability.
Key Highlights
- 9,800 SF warehouse with 1,200 SF office/showroom space
- 1 grade level door and 16’ clearance with paint booth installed and operational
- Fenced and secured site
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
$206,653
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
6.67%
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%
$4,133,060
$4.1M
Cap Rate 7%
$2,952,186
$3.0M
Cap Rate 9%
$2,296,144
$2.3M
Market Conditions
NOI Build-Up for 9,800 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
$352.8K $36.00/SF
− Vacancy
−$77.3K −$7.88/SF
EGI
$275.5K $28.12/SF
− OpEx
−$68.9K −$7.03/SF
NOI
$206.7K $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%
$4,133,060
Cap Rate 7%
$2,952,186
Cap Rate 9%
$2,296,144
Alternative Uses
Best Use
Office B
$2.95M
$2.58M – $3.44M
NOI $206,653 @ 7.0% cap · market cap 6.67%
Second Best
Warehouse
$1.71M
$1.50M – $1.99M
NOI $119,682 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$3.93M
$3.43M – $4.58M
NOI $274,761 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,120
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98188, WA
27,851
Population
12,025
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
88%
High-School Grad
8.1 sq mi
ZIP Area
3,438
Density / Sq Mi
$76,559
Median Household Income
$45,245
Median Earnings
$1,641
Median Rent
$452,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse with grade level door, fenced secure site, and operational paint booth plus office/showroom space.
Where is this warehouse located?
The property is located at 17000 Valley Hwy Tukwila, WA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 9,800 SF warehouse with 1,200 SF office/showroom space; 1 grade level door and 16’ clearance with paint booth installed and operational; Fenced and secured site
