Renton Office Space For
For Sale
$3,950,000
200 SW 41st St, Renton, WA 98057
High-quality office space in Renton, near various amenities and lodging.
Property Size13,385 SF
Price / SF$295.11
Days on Market206
Property Features for 200 SW 41st St
General Information
Standard status
Active
Size
13,385 SF
Class
C
Property subtype
Office
Building Details
Building Size
13,385 SF
Year Built
2006
Listing Agency:
The Andover Company, Inc.
(206) 550-4176
Listed By:
Mike Hemphill
(206) 550-4176
Source:
Corfac
Added: Jan 26
Changed: Aug 19
Last Checked: Aug 20 at 5:37AM
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 The Andover Company, Inc.
Investment Insights
Based on property information with market context.
This high-quality office space is located in the Renton neighborhood. The building is situated within walking distance of various restaurants, including Starbucks, Burger King, Subway, and Jersey Mike’s. Several lodging accommodations are located blocks away, such as Clarion Hotel, Hilton Garden Inn, Springhill Suites, Larkspur Landing, and Towneplace Suites. The property is one block from IKEA. Surface stalls are available at a ratio of 4 per 1,000 square feet in a lighted parking lot. The building has a total size of 13,385 square feet.
Key Highlights
- High‑quality office space in Renton.
- Walking distance to numerous restaurants including Starbucks, Burger King, and Subway.
- Close proximity to lodging accommodations such as Clarion Hotel and Hilton Garden Inn.
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
$236,864
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
6.00%
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%
$4,737,280
$4.7M
Cap Rate 7%
$3,383,771
$3.4M
Cap Rate 9%
$2,631,822
$2.6M
Market Conditions
NOI Build-Up for 13,385 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
$441.7K $33.00/SF
− Vacancy
−$125.9K −$9.41/SF
EGI
$315.8K $23.60/SF
− OpEx
−$79.0K −$5.90/SF
NOI
$236.9K $17.70/SF
Area
Renton, WA
Vacancy
28.50%
Lease Rate
$33.00 /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%
$4,737,280
Cap Rate 7%
$3,383,771
Cap Rate 9%
$2,631,822
Alternative Uses
Best Use
Office B
$3.38M
$2.96M – $3.95M
NOI $236,864 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.36M
$3.82M – $5.09M
NOI $305,274 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,658
Businesses Nearby
Explore this area
Business Placement
Demographics for 98057, WA
13,493
Population
6,656
Households
2
Avg Household Size
38
Median Age
34%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
2,176
Density / Sq Mi
$68,097
Median Household Income
$53,994
Median Earnings
$1,767
Median Rent
$606,500
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 - High-quality office space in Renton, near various amenities and lodging.
Where is this office units located?
The property is located at 200 SW 41st St Renton, WA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: High‑quality office space in Renton.; Walking distance to numerous restaurants including Starbucks, Burger King, and Subway.; Close proximity to lodging accommodations such as Clarion Hotel and Hilton Garden Inn.
