Open-Layout Retail
New
For Sale
Contact for pricing
213 - 235 1st Ave S, Kent, WA 98032
A flexible suite can accommodate open-concept arrangements for retail or service businesses.
Property Size1,825 SF
Price / SF$0.01
Days on Market3
Property Features for 213 - 235 1st Ave S
General Information
Standard status
Active
Size
1,825 SF
Property subtype
Retail
Lease Term
NNN
Site & Location
Neighborhood
Kent Downtown
Highway Access
Yes
Properties For Sale
at 213 - 235 1st Ave S
231 1st Ave S
Size
1,825 SF
Term
Negotiable
Listing Agency:
NAI Puget Sound Properties
Listed By:
Steve Balkman, CCIM · License #17203
(425) 586-5606
Source:
Nai-psp
Added: Oct 28
Last Checked: Oct 30 at 11:39AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Suite 231 offers 1,825 square feet of retail space with an open layout that can be arranged for retail or service use.
The property is in downtown Kent, with access to SR-167, Kent Station and transit. Parking is available nearby.
The property is in downtown Kent, with access to SR-167, Kent Station and transit. Parking is available nearby.
Key Highlights
- Suite 231 contains 1,825 SF
- Open layout suited to retail or service use
- Downtown Kent location with access to SR‑167
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,791
Suggested Prices Based on Cap Rates
Cap Rate 5%
$535,820
$535.8K
Cap Rate 7%
$382,729
$382.7K
Cap Rate 9%
$297,678
$297.7K
Market Conditions
NOI Build-Up for 1,825 SF
Gross rent
$40.1K $21.96/SF
− Vacancy
−$1.8K −$0.99/SF
EGI
$38.3K $20.97/SF
− OpEx
−$11.5K −$6.29/SF
NOI
$26.8K $14.68/SF
Area
Kent, WA
Vacancy
4.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$535,820
Cap Rate 7%
$382,729
Cap Rate 9%
$297,678
Alternative Uses
Best Use
Retail
$382.7K
$334.9K – $446.5K
NOI $26,791 @ 7.0% cap · market cap 133,955.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$683.9K
$598.4K – $797.9K
NOI $47,874 @ 7.0% cap · market cap 239,370.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,665
Businesses Nearby
Explore this area
Business Placement
Demographics for 98032, WA
38,744
Population
15,639
Households
2.5
Avg Household Size
35
Median Age
28%
College-Educated
84%
High-School Grad
17.0 sq mi
ZIP Area
2,279
Density / Sq Mi
$77,413
Median Household Income
$46,105
Median Earnings
$1,782
Median Rent
$473,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - A flexible suite can accommodate open-concept arrangements for retail or service businesses.
Where is this retail space located?
The property is located at 213 - 235 1st Ave S Kent, WA.
What are key features of this property?
This property features: Suite 231 contains 1,825 SF; Open layout suited to retail or service use; Downtown Kent location with access to SR‑167
