Warehouse with Dock
For Sale
Contact for pricing
17300 W Valley Hwy, Tukwila, WA 98188
Updated warehouse includes a dock platform and outside storage on a large land parcel with major highway access.
Property Size21,025 SF
Lot Size1.61 Acres
Price / SF$423.31
Days on Market98
Property Features for 17300 W Valley Hwy
General Information
Standard status
Active
Size
21,025 SF
Lot size
1.61 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Listing Agency:
Newmark
(425) 362-1400
Listed By:
Thad Mallory, SIOR
(425) 362-1410
Source:
Moodyscre
Added: Jun 8
Changed: Sep 9
Last Checked: Sep 13 at 10:52AM
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 Newmark
Investment Insights
Based on property information with market context.
This updated warehouse totals 21,025 square feet within a 70,132 square foot land parcel. The building includes a dock platform loading area and outside storage, supporting flexible logistics and distribution operations.
The property provides exposure to West Valley Highway and offers immediate access to I-405, I-5, and SR-167, making it convenient for regional connectivity.
The site configuration combines indoor warehouse space with dedicated outside storage to accommodate time-sensitive staging and material handling needs.
The property provides exposure to West Valley Highway and offers immediate access to I-405, I-5, and SR-167, making it convenient for regional connectivity.
The site configuration combines indoor warehouse space with dedicated outside storage to accommodate time-sensitive staging and material handling needs.
Key Highlights
- 21,025 SF building on 70,132 SF of land
- Updated warehouse with dock platform loading
- Outside storage included
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
$256,767
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
2.89%
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%
$5,135,340
$5.1M
Cap Rate 7%
$3,668,100
$3.7M
Cap Rate 9%
$2,852,967
$2.9M
Market Conditions
NOI Build-Up for 21,025 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
$328.0K $15.60/SF
− Vacancy
−$25.9K −$1.23/SF
EGI
$302.1K $14.37/SF
− OpEx
−$45.3K −$2.16/SF
NOI
$256.8K $12.21/SF
Area
King 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%
$5,135,340
Cap Rate 7%
$3,668,100
Cap Rate 9%
$2,852,967
Alternative Uses
Best Use
Warehouse
$3.67M
$3.21M – $4.28M
NOI $256,767 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.42M
$7.37M – $9.82M
NOI $589,474 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,169
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Warehouse - Updated warehouse includes a dock platform and outside storage on a large land parcel with major highway access.
Where is this warehouse located?
The property is located at 17300 W Valley Hwy Tukwila, WA.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: 21,025 SF building on 70,132 SF of land; Updated warehouse with dock platform loading; Outside storage included
