Listing Agency: West Coast Commercial Realty, LLC Show Phone

Listed By: Marcus Figueroa Show Phone

Source: Moodyscre

Added: Oct 13 Changed: Oct 15 Last Checked: Oct 15 at 2:38AM

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Investment Insights

Based on property information with market context.

Unit 6 is a 2,160-square-foot flex condominium at 1721 West Valley Highway North in Auburn. Its office portion has a reception area, private office, conference room, kitchenette and restroom, alongside open warehouse space with a grade-level roll-up door and ceilings approximately 16 feet high. The unit is delivered vacant and includes 2 assigned parking spaces.

The property is zoned M1 and sits minutes from SR-167. A dedicated loading and access area extends along the north side of the building. Park 17 has an 8-unit association with no debt and no special assessments planned.

Key Highlights

• 2,160 SF flex condominium with office and warehouse space
• Office area includes reception, private office, conference room, kitchenette and restroom
• Warehouse has a grade‑level roll‑up door and ceilings around 16 feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,010

Cap Rate

4.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$620,200 $620.2K

Cap Rate 7%

$443,000 $443.0K

Cap Rate 9%

$344,556 $344.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,160 SF

Gross rent

$59.5K $27.54/SF

− Vacancy

−$11.8K −$5.45/SF

EGI

$47.7K $22.09/SF

− OpEx

−$16.7K −$7.73/SF

NOI

$31.0K $14.36/SF

Area

King County, WA

Vacancy

19.80%

Lease Rate

$27.54 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$620,200

Cap Rate 7%

$443,000

Cap Rate 9%

$344,556

Alternative Uses

Best Use

Flex RnD

$443.0K

$387.6K – $516.8K (±1% cap)

NOI $31,010 @ 7.0% cap · market cap 4.77%

Second Best

Warehouse

$376.8K

$329.7K – $439.7K (±1% cap)

NOI $26,379 @ 7.0% cap · market cap 4.06%

Theoretical Best

Office A

$865.1K

$757.0K – $1.01M (±1% cap)

NOI $60,559 @ 7.0% cap · market cap 9.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Sun Press Printing ... Marketing & Advertising Northwest Scale Systems ... (Bike/Boat/Book/etc) Store Alta Pest Control Garden Center Greentec Hybrid & EV ... Big Box & Wholesale Store Mortgage Solutions Financial ... Loan Service

Suggested Use

Top Pick Real Estate Agency Dental Office Spa & Massage Center Pharmacy Restaurant Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16 ft

Clear height

1

Drive-in doors

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

329

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 98001, WA

36,073

Population

12,369

Households

2.9

Avg Household Size

39

Median Age

28%

College-Educated

87%

High-School Grad

18.6 sq mi

ZIP Area

1,939

Density / Sq Mi

$107,218

Median Household Income

$54,332

Median Earnings

$1,927

Median Rent

$538,800

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - A separate loading and access area runs along the building’s north side, apart from neighboring units.

Where is this flex space located?

The property is located at 1721 West Valley Highway North Auburn, WA.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: 2,160 SF flex condominium with office and warehouse space; Office area includes reception, private office, conference room, kitchenette and restroom; Warehouse has a grade‑level roll‑up door and ceilings around 16 feet